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Stock Alert: Viomi Technology 19% Higher On Q4 Results, Share Buyback

Shares of Chinese smart-home products maker Viomi Technology Co., Ltd (VIOT) are surging more than 19% after the company's fourth-quarter revenue beat estimates. Viomi also announced a share buyback.

Net revenues for the quarter increased 82.2% year-on-year to $250.2 million on strong product sales. The consensus estimate of 5 analysts polled by Thomson Reuters was at $289.87 million.

Net income in the fourth quarter increased 64.4% to $13 million or $0.18 per ADS from last year-quarter. Excluding items, earnings of $0.20 per ADS, however, missed estimates at $0.23.

For the first quarter, Viomi expects net revenues to be approximately flat as compared to the corresponding period last year.

The company today announced a share repurchase program of up to US$10 million worth of its Class A ordinary shares in the form of American depository shares over the next twelve-month period.

VIOT is currently trading at $5.65. It has traded in the range of $4.20- $15.84 in the past one year.

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