IT Tech Packaging Inc (ITP)

[loubigfish]

More Good News......




For the three months ended March 31, 2011, the Company is expecting to report total unaudited revenue increased 25.6% to approximately $33.2 million from $26.5 million in the first quarter of 2010. During the quarter, the Company experienced lower tonnage sales of corrugating medium paper and lower gross profit margin from sales of offset printing paper sourced from third party suppliers. The Company is expecting unaudited net income to be approximately $4.9 million, or $0.26 per diluted share, up 55.2% from $3.1 million, or $0.21 per diluted share, for the same period last year.