Gulf Resources Inc (GURE)

[James salmon]

Wow great results just out from GURE;

In the second quarter, net revenues grew to $49.35m from $31.75m in the same quarter of the previous year, an increase of 55%. Gross profit grew to $17.1m from $9.2m, an increase of 86%. Net income grew to $10.78m from $5.66m, an increase of 90%. Diluted earnings per share grew to $0.23 from $0.14, an increase of 64%. "We are extremely pleased with these very strong results," Mr. Liu Xiaobin, the President and CEO of Gulf Resources stated.

Gulf Resources ended the quarter with cash of $118m ($2.55 per share), working capital of $176.7m ($3.82 per share), and shareholders' equity of $342.2m, ($7.40 per share). "Our balance sheet is very strong," Mr. Liu continued. "It gives us the flexibility to pursue natural gas leases, make acquisitions, and potentially provide capital enhancement strategies for our shareholders."

For the six months ended June 30, 2015, net revenues grew to $84.3m from $57.3m, an increase of 47%. Gross profits grew to $26.5m from $16.0m, an increase of 65%. Net income grew to $16.1m from $9.95m, an increase of 62%. Earnings per diluted share grew to $0.36 from $0.25, an increase of 44%.