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China Ruitai International Holdings Co., Ltd. Reports Financial Results for the Second Quarter 2010
Date:8/17/2010

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China Ruitai International Holdings Co., Ltd. Reports Financial Results for the Second Quarter 2010

 

FEICHENG, China, Aug. 17 /PRNewswire-Asia-FirstCall/ -- China Ruitai International Holdings Co., Ltd. ("China Ruitai", "TaiAn" or the "Company") (OTC Bulletin Board: CRUI), a manufacturer and distributor of cellulose ether additives for use in the production of pharmaceuticals, construction materials, PVC products, foods and beverages and cosmetics, today announced its financial results for its second quarter ended June 30, 2010.

Second Quarter 2010 Highlights -- Revenue was $11.2 million, up 32.0% from 2Q 2009; Company expands customer base by 330 customers in 2Q2010 -- Gross profit was $2.9 million, unchanged from 2Q 2009 due increases in raw material costs -- Net income was $1.4 million, up 19.2% from 2Q 2009 and earnings per diluted shares were $0.054 based on 26.0 million shares Second Quarter 2010 Results 2Q 2010 2Q 2009 CHANGE Net Sales $ 11.2 million $ 8.4 million + 32.0 % Gross Profit $ 2.9 million $2.9 million 0 % Net Income $ 1.4 million $ 1.2 million + 19.2 % EPS (Diluted) $0.054 $0.046 + 19.3 %

Company Overview and Second Quarter 2010 Results

China Ruitai is one of the largest manufactures of non-ionic cellulose ether products in China with approximately 28% market share. Cellulose either is an organic chemical derived from cotton that serves as a thickener, stabilizer and binding agent for a wide variety of commercial industries and products, including; pharmaceuticals, construction materials, petrochemicals, food and beverage products and cosmetics. Specifically, the Company's cellulose ether is a stabilizer and thickener in latex paint and dry mix for concrete mortar and, used as
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SOURCE China Ruitai International Holdings Co., Ltd.
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