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Monday, September 06, 2010 4:19:24 PM
WH $1.14 daily and weekly charts by XELA22 6 Sep 10.
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WUXI, China, Aug. 17 /PRNewswire-Asia-FirstCall/ -- WSP Holdings Limited (NYSE:WH - News) ("WSP Holdings" or the "Company"), a leading Chinese manufacturer of API (American Petroleum Institute) and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction ("Oil Country Tubular Goods" or "OCTG"), and other pipes and connectors, today announced its unaudited financial results for the second quarter ended June 30, 2010.
WSP Holdings reported higher revenues of $134.1 million in the second quarter of 2010 compared to $60.9 million in the previous quarter due to increases in both domestic and international sales. Domestic sales and international sales accounted for 62.8% and 37.2%, respectively, of total revenues for the second quarter of 2010.
On a quarter-over-quarter basis, domestic sales increased due to a 60.4% increase in domestic sales volume and a 27.5% increase in average selling prices. The quarter-over-quarter increase in international sales was due to a 149.8% increase in international sales volume mainly attributable to sales of API products to Venezuela and an 1.2% increase in average selling prices.
The year-over-year decline in domestic sales was due to a 13.6% decrease in domestic sales volume and a 20.6% decrease in average selling prices while the year-over-year increase in international sales was attributable a significant increase of 213.1% in sales volume to the international markets, especially to South America, offset by a 15.5% decrease in average selling prices.
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WUXI, China, Aug. 17 /PRNewswire-Asia-FirstCall/ -- WSP Holdings Limited (NYSE:WH - News) ("WSP Holdings" or the "Company"), a leading Chinese manufacturer of API (American Petroleum Institute) and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction ("Oil Country Tubular Goods" or "OCTG"), and other pipes and connectors, today announced its unaudited financial results for the second quarter ended June 30, 2010.
WSP Holdings reported higher revenues of $134.1 million in the second quarter of 2010 compared to $60.9 million in the previous quarter due to increases in both domestic and international sales. Domestic sales and international sales accounted for 62.8% and 37.2%, respectively, of total revenues for the second quarter of 2010.
On a quarter-over-quarter basis, domestic sales increased due to a 60.4% increase in domestic sales volume and a 27.5% increase in average selling prices. The quarter-over-quarter increase in international sales was due to a 149.8% increase in international sales volume mainly attributable to sales of API products to Venezuela and an 1.2% increase in average selling prices.
The year-over-year decline in domestic sales was due to a 13.6% decrease in domestic sales volume and a 20.6% decrease in average selling prices while the year-over-year increase in international sales was attributable a significant increase of 213.1% in sales volume to the international markets, especially to South America, offset by a 15.5% decrease in average selling prices.
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