China Industrial Steel announces Q3 result
China
Industrial Steel, Inc announced its earnings for the three months ended
September 30, 2013. The Company filed its Form 10-Q with the Securities
and Exchange Commission on November 14, 2013.
Mr
Liu Shenghong CEO and chairman of the Company commented on the
Company's performance said that " China Industrial Steel's continued
growth stems from increasing market demand. Our ability to generate
improved revenue and net income despite the lingering pressure on the
average unit sales price of our steel products, reflects the strength of
our sales and marketing team as well as the efficiency of our
production and distribution channels. I am confident that these efforts
will continue to positively impact our financial performance going
forward, most notably as pricing returns to prior levels." Beijing Topensea
Highlights of 2013 Third Quarter Financials
1.
Revenues increased 11% to $188 million in the three months ended
September 30, 2013 from $169 million for the same period in 2012
2.
Steel products tonnage sales up 12% for the quarter ended September 30 ,
2013, to 390,234 metric tons as compared to 346,977 metric tons
Source - NewsRx LLC
