Orient Paper Inc. New (NYSE AMEX:ONP)

Monday, April 3, 2017 | Web News
BAODING, China, April 3, 2017 /PRNewswire/ -- Orient Paper, Inc. (NYSE MKT: ONP) ("Orient Paper"...
Thursday, March 23, 2017 | Web News
Fourth Quarter 2016 Financial Results Revenue decreased by 10.6% to $31.4 million. Net income was $3.1...
Thursday, March 2, 2017 | Web News
Fourth Quarter 2016 Financial Results Revenues were $31.4 million vs. last years same quarter of $35.1 Diluted EPS was $0....

At least one VIE exists in the corporate structure

First Quarter 2017 Financial Results

  • Revenue decreased by 9.4% to $25.3 million, primarily attributable to decrease in overall sales volume and partially offset by increase in blended average selling prices, particularly for CMP products.
  • Net income was $1.7 million, or $0.08 per diluted share, compared to net loss of $1.4 million, or loss of $0.06 per diluted share, for the same period of the prior year.

"Our revenue decreased by 9.4% in the first quarter mainly as a result of a government mandated temporary restriction on production that has been in place since November 2016 that adversely affected our production and sales volume for light-weight corrugating medium paper ("CMP"), offset printing paper and tissue paper. However, margins and profitability improved significantly in the first quarter thanks to continued uptick in average selling price for regular CMP as well as decrease in operating expenses," said Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper. "While we continue to face the uncertainties of government mandated production restriction/suspension from time to time, we expect the overall price environment to remain relatively stable for the remainder of the year."

Web site: http://www.orientalpapercorporation.com/

Last updated May 11, 2017