Beijing-based China Advanced Construction Materials Group Inc. (China ACM) is a leading producer of advanced construction materials for large scale commercial, residential and infrastructure developments. The company today announced its fourth-quarter and fiscal results for the three months ended June 30, 2009, posting a quarter of proven growth and profitability.

The company posted revenue for the quarter at $14.5 million, as compared to $7.7 million for the three months ended June 30, 2008. Net income for the three months ended June 30 2009, was $5.7 million, or $0.40 per diluted share, compared to net income of $1.4 million, or $0.12 per diluted share, for the same quarter last year.

Xianfu Han, chairman and CEO of China ACM, said the results reflect the company’s efforts to secure and execute additional contracts.

“We are pleased to report that careful strategic planning and aggressive bidding for new projects has resulted in another quarter

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United Technologies Corp.'s (UTX) Pratt & Whitney unit recently announced that it was investing substantially to lower costs for the F-35 engine in the longer term. Of late, the company has been working extensively with the government in this respect.

The measures undertaken by the company include engineering changes, which might require government investment in some cases, extensive efforts to cut supplier costs and improve the production process of engines.

The estimated price for Pratt engine was slated to rise to $8.3 million per engine from $6.7 million, the biggest increase since 2001.

While the company’s efforts could result in prices dropping below the third lot of low-rate production engines, it would not be as low as the price after production of 250 engines.

Pratt & Whitney is trying to improve the quality of certain engine parts but the overall acceptance level is currently around 97%. Certain parts

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