China Shen Zhou Releases Financial Information for Q1 of 2011

May 28th, 2011 - Posted in Mining Stocks

China Shen Zhou Mining & Resources, Inc. Financial information chart.

China Shen Zhou Mining & Resources Inc. has finally made the information of its financial report for the first quarter of 2011, available. An article in steelguru.com posted the highlights of the company’s financial information for Q1 for 2011.

The highlights give emphasis on:

1. The company’s revenue that reached to reached USD 1.9 million in Q1 of 2011 from 0.9 million.

2. The gross margin has increased to 35.0% compared with 8.0% in the first quarter of 2011.

3. Company’s cash equaled to USD 7.7 million.

The company got a total net sales of 1.9 million an approximate USD 975,000, showing an increase of 106% compared to the USD 0.9 million in the first quarter of 2010.

The sales of the company has dramatically increased because of the increase in demands of fluorite powder giving the company 6,000 tonnes, or an increase of 150% compared to 2,400 tonnes for the same quarter of 2010.

The company got a gross profit of USD 664,000 for the first quarter of 2011, compared to USD 73,000 in the first quarter of 2010. The increase is brought by the sales fluorite powder brought to the company, and the large produce of the product from its new processing plant that started operation in August 2010.

Moreover, the company spent USD 2.1 million in the first quarter of 2011 for its operating expenses, compared to USD 1.1 million in the first quarter of 2010. While the company has a net loss of USD 1.6 million in the first quarter of 2011, or USD 0.06 per for its basic share and diluted share. It got a net loss attributable to stockholders of USD 0.8 million in the first quarter of 2010, or USD 0.03 per diluted and basic shares.

According to CEO of China Shen Zhou, Ms Xiaojing Yu chairwoman, the company has made a remarkable progress in its operation and has gained strength financially.

“We have made great progress in our operations and gained financial strength through our equity offering. Our resources and assets have risen through our 55% ownership in the Xinyi Fluorite Company. We look forward to reaping the benefits of rising fluorite prices and our larger fluorite volumes. The 2011 year will be highlighted by marked improvement in sales and earnings,” Ms. Yu said.

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This entry was posted on Saturday, May 28th, 2011 at 4:40 pm and is filed under Mining Stocks. Tags: China Shen Zhou Mining & Resources Inc, Financial information, Mining Stocks, Q1 2011. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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