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Kandi Technologies Group, Inc. (NASDAQ:KNDI)

Thursday, May 15, 2008

Notes from 2007 Annual Earnings release:

"For the year ended Dec 31, 2007, the Company reported net income of $5,029,096, slightly exceeding its guidance, compared with $1,079,155 in 2006, an increase of 366%. On a per share basis, the Company reported EPS of $0.31 in 2007, compared with $0.10 per share in the prior year."

"Full year revenues in 2007, although slightly lower than anticipated, grew 139.6% to $34,702,168."

(Source: Press April 1, 2008 )

GeoTeam Note:

Adjusted EPS for 2007, assuming a normal tax rate, would have been approximately $0.19, up from $0.06.

Notes From 2008 First Quarter Earnings Release:

* Sales in its first quarter grew 76% to $9,487,285

* Operating margins increased to 17.3% from 13.7%

* Net income from continuing operations grew 27.5% to $1,110,019

* EPS were $0.06 vs $0.09 on a 66% increase in shares outstanding for a total of 19.96 million shares.

* The company had a small tax benefit of $40,000 as compared to no taxes paid in the first quarter of 2007.

GeoTeam Note:

Adjusted EPS for the quarter, assuming a normal tax rate, would have been approximately $0.03, down from $0.05.

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