Ossen Innovation (OSN) Reports FY2016 EPS of $0.24

Ossen Innovation (NASDAQ: OSN) reported FY2016 EPS of $0.24 versus FY2015 EPS of $0.30. Revenue for the FY2016 came in at $117 million, versus $117.9 reported last year.

"We saw slight dip in 2016 revenues as we continued to scale-back our plain surface PC strands business in light of its gross margin deterioration in recent quarters. However, revenues from the coated products snapped back after a down year in 2015 and grew 14.8% in 2016 as a result of the increase in sales volume that more than offset the decrease in average selling price for coated products. We remain cautious on our near-term outlook on the back of continuing headwinds facing the Chinese economy and our industry" commented Dr. Liang Tang, Chairman of Ossen Innovation.

For earnings history and earnings-related data on Ossen Innovation (OSN) click here.

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