China Gengsheng Minerals, Inc. (http://finance.yahoo.com/q?s=CHGS), a materials technology company, conducting its business through the BVI-registered subsidiary Gengsheng International Corporation (http://bvi-companies.blogspot.com/2008/02/gengsheng-international-corporation.html) and the Chinese subsidiaries, announced results for the fourth quarter and fiscal year ended December 31, 2009. For the fourth quarter period, the company reported sales revenue growth of 18% compared to the same period of 2008 – that is approximately $15.3 million. Company’s gross profit made $3.9 milliion – a 33.8% increase year-over-year. In the fourth quarter of 2009, China Gengsheng reported net income of approximately $1.0 million, that is $0.04 per share (basic or diluted), – compared with $643,000 net loss (or $0.03 per basic and dfiluted share) for the same period of the prior year.
According to the year end 2009 results reported by China Gengsheng, company’s sale revenues made approximately $57.0 million, compared with $49.8 million in 2008. Cost of sales in the fiscal year 2009 was $40.7 million – a 20.5% increase from approximately $33.8 million in 2008. Gross profit in 2009 was approximately $16.2 million, an increase of 1.6% from the last year. Net income made approximately $5.6 million in the fiscal year 2009, compared with $4.1 million in 2008.
As of December 31, 2009, company’s cash made about $1.0 million, working capital was approximately $24.6 million, and no long-term debt was reported. Total shareholders’ equity was 48.9 million, compared to $43.3 million at December 31, 2008. Total shares outstanding (both basic and diluted) were 24,038,183.
The company is optimistic about year 2010, and, based on its current sales estimate, is expecting growth to continue.
China Gengsheng Minerals, Inc., a materials technology company, conducting its business through the BVI-registered subsidiary Gengsheng International Corporation and the Chinese subsidiaries, announced results for the fourth quarter and fiscal year ended December 31, 2009. For the fourth quarter period, the company reported sales revenue growth of 18% compared to the same period of 2008 – that is approximately $15.3 million. Company’s gross profit made $3.9 milliion – a 33.8% increase year-over-year. In the fourth quarter of 2009, China Gengsheng reported net income of approximately $1.0 million, that is $0.04 per share (basic or diluted), – compared with $643,000 net loss (or $0.03 per basic and dfiluted share) for the same period of the prior year.
According to the year end 2009 results reported by China Gengsheng, company’s sale revenues made approximately $57.0 million, compared with $49.8 million in 2008. Cost of sales in the fiscal year 2009 was $40.7 million – a 20.5% increase from approximately $33.8 million in 2008. Gross profit in 2009 was approximately $16.2 million, an increase of 1.6% from the last year. Net income made approximately $5.6 million in the fiscal year 2009, compared with $4.1 million in 2008.
As of December 31, 2009, company’s cash made about $1.0 million, working capital was approximately $24.6 million, and no long-term debt was reported. Total shareholders’ equity was 48.9 million, compared to $43.3 million at December 31, 2008. Total shares outstanding (both basic and diluted) were 24,038,183.
The company is optimistic about year 2010, and, based on its current sales estimate, is expecting growth to continue.