GFRE Second Quarter 2010 Highlights
-- Revenue was $46.8 million for the three months ended June 30, 2010, a year-over-year increase of 58.0%
-- Gross profit was $23.1 million for the three months ended June 30, 2010, a year-over-year increase of 75.4%
-- Gross margin increased to 49.3% from 44.4% for the three months ended June 30, 2010
-- Income from operations was $21.9 million for the three months ended June 30, 2010, a year-over-year increase of 82.0%
-- Operating margin was 46.8%, compared to 40.6% for the three monthsnended June 30, 2010
-- Net income was $16.4 million, or $0.47 per basic and diluted share for the three months ended June 30, 2010, an increase of 83.1% from $9.0 million, or $0.29 per basic and diluted share, a year ago
-- Cash totaled $55.2 million as of June 30, 2010
-- Acquired bromine and crude salt production assets, bringing total annual bromine production capacity to 46,300 tonnes and annual crude salt production capacity to 550,000 tonnes
-- Completed production line for wastewater treatment chemical additives and began trial production
--The Company reiterates guidance for revenue between $146 million and $150 million and net income between $44 million and $46 million for fiscal year 2010. This guidance does not take into account the Company's most recent acquisition of bromine and crude salt production assets.
AI
