Fuwei Films (FFHL) Reports Q2 Loss of $0.40

Fuwei Films (NASDAQ: FFHL) reported Q2 EPS of ($0.40).

• Net sales during the second quarter ended June 30, 2018 increased to RMB79.6 million or US$12.0 million from RMB70.1 million last year;
• Sales of specialty films were RMB30.7 million or US$4.6 million or 38.6% of our total revenues;
• Overseas sales were RMB16.6 million or US$2.5 million;
• Our gross profit grew to RMB6.8 million or US$1.0 million from RMB5.0 million last year; gross margin was 8.5% compared to 7.2% last year.

.Mr. Zengyong Wang, Chairman and CEO of Fuwei Films, commented, "Our second quarter results reflect the intense competition as a result of excess capacity in the BOPET industry. In spite of this, I am pleased to share that our differentiated product strategy is showing results and sales of specialty films continued to grow. Riding on this positive momentum, we will work toward expanding our customer base through introducing innovative products and exploring overseas markets. We believe that capturing opportunities in new and emerging markets will help strengthen our competitive position."

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

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