Gushan Environmental Energies Ltd (GU) Releases 3rd Quarter Results

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09:40:48 am on November 12, 2008

Gushan Environmental Energies released its 3rd quarter results today. Revenues increased 82.9% compared to last year’s third quarter, coming in at $66 million.  Also compared to last year, gross profit is up 47.8% to $24.0 million. Compared to last year, income from operations is up 36.6% to $19.9 million. Non-GAAP net income, however, decreased by 3.5% from last year, coming in at $12.7 million. Since this time last year, Gushan has increased their biodiesel capacity by 120,000 tons, and their sales volume has increased to 63,632 tons, an increase of 44.8% from last year.

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