During the three month period ended March 31, 2010, the Company posted revenues of $10.2 million, a 24.4% increase from $8.2 million in the same year ago period, which benefited from higher sales volumes to customers as the global economy recovered. International sales in the first quarter of 2010 contributed 30.7% of revenues versus 36.8% in the same period in 2009, while sales to Chinese customers accounted for approximately 69.3% compared to 63.2 % in each respective period. Primary export products from the Company include; Hydroxypropyl Methyl Cellulose (known as "HPMC") which is used in the construction industry, PVC used in the petrochemical industry and for various products in the pharmaceutical industry. 27.6% of overall sales for the first quarter emanated from customers, which produce premium pharmaceutical, food and cosmetic products. China Ruitai has sales agents located in thirty offices throughout the PRC, including Beijing and Shanghai, with branch offices in seven other tier two cities. Capacity utilization during the first quarter of 2010 was 83% vs. 70% in the year ago period, as the Company produced 1,700 tons compared to 1,430 tons.
During the three month period ended March 31, 2010, the Company's cost of
sales increased 39.3% to $6.9 million'/>"/>
SOURCE China Ruitai International Holdings Co., Ltd.
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