GURE - Fourth Quarter 2012 Highlights
•Revenue was $22.0 million, a year-over-year decrease of 27.8%
•Gross profit was $4.2 million, a year-over-year decrease of 59.5%
•Gross margin decreased to 19.1% from 34.1% for the fourth quarter of 2011
•Income from operations was $2.6 million as compared to $1.9 million in the fourth quarter of 2011
•Operating margin was 12.0% compared to 6.2% for the fourth quarter of 2011
•Net income was $1.9 million or $0.05 per basic and diluted share, versus $1.0 million, or $0.03 per basic and diluted share a year ago, a year-over-year increase of 90%
Business Outlook
According to the economic statistic and market observations for the first quarter in 2013, we believe that the economic condition is recovering at a low pace as we previously predicted. As the increase in industrial activities leads to more market demand for our segment products, the market price of bromine also reached 20,000RMB in the beginning of March 2013. Although the uncertainties of economic policies and the rising cost of labor and materials will continue to bring challenges to our operation, we are confident that we can achieve the earning targets set forth in the financial guidance announced in January this year.
