August 25, 2008 - 09:56 a.m.

SIOUX FALLS, S.D. (AP) - China-based A-Power Energy Generation Systems Ltd. in succession Monday reported a 4 percent profit increase in the second quarter, spurred by dint of. ongoing distributed power generation projects and wind turbine production.

The company reported net income of $6.2 million in the approve quarter of 2008, compared with $6 a thousand thousand in the second quarter of 2007. The gathering did not make provision per-share figures.

Excluding a stock option charge of $280,000, net income totaled $6.5 million, or 20 cents per share.

Revenue increased 22 percent to $65.7 million from $54 a thousand thousand in the year-ago period.

Analysts surveyed by Thomson Reuters, on average, expected earnings of 20 cents per share on revenue of $62.1 million. Analysts typically exclude one-time items from their earnings-per-share estimates.

The group during the quarter received a $150 million contract to develop a 300-megawatt distributed power generation theory in Thailand, and last month it signed a binding memorandum of understanding for a $300 million contract to develop a 600-megawatt distributed faculty system in Thailand.

Shares of the company prostrate 66 cents, or 3.2 percent, to $19.99 in morning trading.