China Shen Zhou Mining & Resources, Inc. Announces Financial Results for the Second Quarter Ended June 30, 2010
Second Quarter 2010 Highlights:
Total net revenues increased by 210% in the second quarter of 2010 as compared to the same period in 2009 to US$2.2 million from US$0.7 million.
Gross profit increased by approximately 180% in the second quarter of 2010 as compared to the same period in 2009 to US$0.45 million from US$0.16 million.
Net loss attributable to the Company and subsidiaries decreased by approximately 70% in the second quarter of 2010 as compared to the same period in 2009 to US$0.5 million from US$1.7 million.
Net Loss from operations decreased by approximately 69% in the second quarter of 2010 as compared to the same period in 2009 to US$0.5 million from US$1.6 million.
Basic and diluted net loss per share from continuing operations was US$0.02 in the second quarter of 2010 and US$0.07 in the second quarter of 2009.
"I am proud of how our team executed our plans in the second quarter and first half of 2010. While global economic conditions continue to appear sluggish, we posted good results in the second quarter," said Ms. Xiaojing Yu, the Chairwoman and CEO of the Company. "We remain focused on executing our growth strategy by increasing the production of fluorite and exploration of new resources to achieve our financial target of 2010."
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