Fuwei Films (FFHL) Reports Q1 Loss of $0.40 on Revenues of $12.3M

Fuwei Films (NASDAQ: FFHL) reported Q1 EPS of ($0.40). Revenue for the quarter came in at $12.3 million.

Highlights

• Net sales increased 13.3% to RMB76.9 million or US$12.3 million during the first quarter ended March 31, 2018 compared to the same period in 2017
• Specialty film sales accounted for 42.8% of total revenues compared to 32.0% for the same period in 2017
• Gross margins increased to 12.3% compared to gross margin of 5.5% during the same period in 2017

Mr. Zengyong Wang, Chairman and CEO of Fuwei Films, commented, "While we continue to face headwinds due to oversupply in the marketplace, we are encouraged by continued positive trends in overall sales, sales of specialty films and our gross margin improvement. We believe our commitment to innovation and R&D has expanded our end-user applications that will enable the Company to capitalize on these opportunities despite challenging industry and economic conditions."

For earnings history and earnings-related data on Fuwei Films (FFHL) click here.

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