china Linen Textile Industry, Ltd. (OTCBB: CTXIF) ("China Linen" or the "Company"), one of China's leading linen fabric and linen yarn producers and exporters, today announced financial results for the third quarter ended September 30, 2011.
- Q3 2011 revenues increased 15.2% to $16.2 million.
- Q3 2011 gross profit increased 25.5% to $5.5 million, gross margin up 280 basis points to 34.3%
- Q3 2011 net income increased 8.2% to $3.1 million; diluted EPS was $0.45.
SUMMARY FINANCIALS
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Three Months Ended September 30, 2011 and 2010
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Q3 2011
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Q3 2010
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CHANGE
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Net Sales
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$16.2 million
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$14.0 million
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+15.2%
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Gross Profit
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$5.5 million
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$4.4 million
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+25.5%
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Net Income
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$3.1 million
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$2.8 million
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+8.2%
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EPS (Diluted)
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$0.45
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$0.49
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Diluted Shares Outstanding
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7.2 million
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5.8 million
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Nine Months Ended September 30, 2011 Financial Results
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Nine Months Ended September 30, 2011 and 2010
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Nine Months 2011
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Nine Months 2010
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CHANGE
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Net Sales
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$48.1 million
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$31.6 million
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+52.0%
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Gross Profit
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$17.1 million
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$9.8 million
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+73.8%
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Net Income
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$9.7 million
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$6.9 million
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+41.7%
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EPS (Diluted)
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$1.42
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$1.19
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Diluted Shares Outstanding
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7.2 million
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5.8 million
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About China Linen Textile Industry, Ltd.
China Linen Textile Industry, Ltd. (www.chinalinentextile.com) is principally engaged in the production and sale of linen yarn and various types of linen fabric. The Company is also involved in consultation and R&D related to linen technology and linen products. The Company carries on all of its business activities through its subsidiary, Heilongjiang Lanxi Sunrise Linen Textile Industry Co., Ltd. ("Lanxi Sunrise"), established in June 2002 and located in Lanxi County, the "Homeland of Flax in China," near Harbin City in China.
Last Trade: 1.90 52 Week: 3.50 – 1.01 Market Cap: 11.07 Million
