Net Sales for Third Quarter 2007 Rose 12.8% to US$14.3 Million (RMB 107.7
Million) Compared to Third Quarter 2006
BEIJING, Nov. 12 /Xinhua-PRNewswire-FirstCall/ -- Fuwei Films (Holdings) Co. Limited (Nasdaq: FFHL), a manufacturer and distributor of high-quality BOPET plastic film located in China, today announced preliminary financial results for the third quarter and for the nine months ended September 30, 2007 which have not undergone a review by an independent accountant due to the resignation last week of Fuwei's existing independent accountant.
Third Quarter 2007 Financial Highlights
-- Net Sales of US$14.3 million (RMB 107.7 million) for the three months
ended September 30, 2007, an increase of 12.8% from the same period in
-- Gross Profit of US$3.1 million (RMB 23.6 million) for the three months
ended September 30, 2007, an increase of 5.4% from the same period in
-- Net Income of US$1.8 million (RMB 13.9 million) for the three months
ended September 30, 2007, a decrease of 2.1% from the same period in
-- Basic and Diluted Earnings per Share of US$0.14 (RMB 1.07) for the
three months ended September 30, 2007.
''We were pleased that during the third quarter, we began to enter the thick film market, and we have experienced increased demand for our specialty films,'' said Xiaoan He, Chairman and CEO of Fuwei Films. ''This was reflected primarily in the 13% increase in our net sales compared to the corresponding period last year. We believe the result validates management's strategy of shifting our focus.''
''Our strategic initiatives continued to yield promising res
|SOURCE Fuwei Films (Holdings) Co. Limited|
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