From AFX News Limited

NEW YORK -- Wonder Auto Technology Inc. said on Monday it received a $32 million, three-year contract to supply 800,000 automotive alternators to a Shanghai-registered international auto parts procurement center.

The alternators are expected to be exported overseas to a major global automotive maker in the largest supply contract to date for a foreign auto company, according to the China-based manufacturer.

"With this large new customer and the other new and existing customers, we are optimistic that our anticipated sales in 2008 could exceed $140 million, with more than $20 million in net income," the company stated.

The mean estimate of analysts polled by Thomson Financial is for fiscal 2008 net income of $19 million and revenue of $139 million.

Shares of the Jinzhou City, China-based automotive electrical parts and suspension products manufacturer closed Friday at $8.30.

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