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China Linen Textile Industry, Ltd. Reports Third Quarter 2011 Results; Revenues Increase 15.2% to $16.2 Million, Net Income Increases 8.2% to $3.1 Mil
HARBIN, China, Nov. 15, 2011 /PRNewswire-Asia/ -- China Linen Textile Industry, Ltd. (OTCBB: CTXIF) ("China Linen" or the "Company"), one of China's leading linen fabric and linen yarn producers and exporters, today announced financial results for the third quarter ended September 30, 2011.
Q3 2011 revenues increased 15.2% to $16.2 million.Q3 2011 gross profit increased 25.5% to $5.5 million, gross margin up 280 basis points to 34.3%Q3 2011 net income increased 8.2% to $3.1 million; diluted EPS was $0.45.SUMMARY FINANCIALS
Three Months Ended September 30, 2011 and 2010
Q3 2011
Q3 2010
CHANGE
Net Sales
$16.2 million
$14.0 million
+15.2%
Gross Profit
$5.5 million
$4.4 million
+25.5%
Net Income
$3.1 million
$2.8 million
+8.2%
...
First Quarter of 2010 Analysis and Forecast of the Textile Industry
The gradual warming of the global economic environment, stable domestic macroeconomic trends and other comprehensive factors, China's textile industry to undertake recovery in Q4 2009, the trend during the first 2 months 2010 production start for a smooth running operation, continued to show a favorable situation for the better stabilization, produce a steady recovery, export growth accelerated, balance production and sales results have increased
Hackman's novel a good yarn
While some of his fellow actors were busy writing memoirs, Gene Hackman was working on his first solo novel. We know from movies like "Unforgiven" and "Bite the Bullet" that the Oscar winner can ride a horse, but how well can he wrangle Western fiction?
Hollow fibre, Polyester fibre and Polyester filament yarn
Polyester fibre is used on mass scale in making apparels. Polyester fibre is a lot in demand because of some of its special properties which are not found in any other fibre.
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