China Treasure reports third quarter results.HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and ORLANDO Orlando, city, United States Orlando (ôrlăn`dō), city (1990 pop. 164,693), seat of Orange co., central Fla., in a lake region; inc. 1875. In a citrus fruit and farm area, it is one of the world's most visited vacation spots. , Fla.--(BUSINESS WIRE)--Nov. 1, 1995-- China Treasure Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHNA CHNA Community Health Network Area CHNA Community Health Needs Assessment CHNA Canadian Holistic Nurses Association CHNA College Hill Neighborhood Association CHNA Castleberry Hill Neighborhood Association CHNA Converium Holdings North America ) Wednesday Wednesday: see week. reported unaudited results for the third quarter ended Sept. 30, 1995. For the third quarter ended Sept. 30, 1995, sales totaled $23,369,000, compared to no sales for the third quarter ended June 30, 1994. The company reported net income of $2,532,000, or $.18 per share, compared to a net loss of $272,000, or $.02 per share, during the comparable period in 1994. "Our third quarter 1995 performance reflects revenues and profits generated from the Chengdu Chengkang Iron & Steel Corp., a portion of which we acquired recently. The iron and steel works provides products that are essential to the strengthening and further development of infrastructure in a bustling bus·tle 1 intr. & tr.v. bus·tled, bus·tling, bus·tles To move or cause to move energetically and busily. n. Excited and often noisy activity; a stir. and vibrant area of China," stated Clement Clement, in the Bible Clement, in Philippians, one of Paul's coworkers. He is traditionally identified with St. Clement of Rome, the likely author of a letter written from there to the Corinthian church in c.A.D. 96. Mak, chairman of China Treasure. "We are, of course, very pleased with the performance of Chengdu, and in our ongoing monitorization and evaluation of the plant's operations, we are seeking additional opportunities for more cost-efficiency and the elimination of operating redundancies." Mak continued: "We're continuing to progress with the development of Sun City, a one-of-its-kind upscale high tech business, research and residential hub located in the Peoples' Republic of China, near Hong Kong. We believe that a very strong and fundamental integration exists between our real estate development ventures and our infrastructure operations. China Treasure is looking to expand its presence in both of these areas. As evidenced by our third quarter 1995 results, this integration has impacted positively on the company and its shareholders." -0-
CHINA TREASURE INC.
COMPARATIVE OPERATING HIGHLIGHTS
(Unaudited)
(In Thousands, except per share data)
For the Three Months Ended
Sept. 30,
1995 1994
Sales $ 23,369 $ -- Selling & Administrative Expenses 1,285 (538) Cost of Goods 17,301 -- Interest Expenses 573 14 Other (Income) expenses, net (140) (10) Total Costs & Expenses 19,019 (524) Income Tax (20) -- Profit after tax, before minority interest 4,330 -- Minority Interest 1,798 (262) Net Income (loss) $ 2,532 $ (272) Earnings (Loss) per share $ .18 $(.02) Common shares outstanding 14,330,714 14,285,714 CONTACT: Market Management International Inc., Orlando Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs L. Tedrow, 407/645-0207 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion