Armco Metals Holdings, Inc. (AMCO) Reports Q3 EPS of $0.09

Armco Metals Holdings, Inc. (NYSE: AMCO) reported Q3 EPS of $0.09, versus ($0.14) reported last year. Revenue for the quarter came in at $32.2 million, versus $20.5 million reported last year.

In reviewing the financial performance for the third quarter of 2014, Mr. Kexuan Yao, Chairman and CEO of Armco Metals, remarked that, "In the third quarter of 2014 we continued to gain momentum in our metal recycling business and recorded strong revenue growth and profitability despite a continued weak environment in our end markets. Through effective management of the recycling process we were able to extract a substantial amount of additional value from our raw materials helping us to significantly improve our financial performance. We also were able to recover some of the previous write downs of inventory. We are excited to return to profitability, not only in the quarter but for the first nine months as well, and we will look to build on that profitability in the fourth quarter. We will also focus on opportunistically improving performance in our trading business in a challenging global environment. One of the ways we believe we can accomplish this is through our recent agreement with a supplier in Chile to purchase and distribute wood chips. We believe this new opportunity can provide healthy gross margins and help to diversify our trading business to reduce volatility. We look forward to providing additional updates as to our progress in this new opportunity in the coming quarters as we set the stage for 2015 and beyond."

For earnings history and earnings-related data on Armco Metals Holdings, Inc. (AMCO) click here.

You May Also Be Interested In

• Biogen (BIIB) tops earnings expectations but revenue falls short
• QNB Corp. (QNBC) Reports Q1 EPS of $0.71
• Norfolk Southern (NSC) Misses Q1 EPS by 12c