Fuwei Films (FFHL) Reports Q4 EPS of $0.46

Fuwei Films (NASDAQ: FFHL) reported Q4 EPS of $0.46. Revenue for the quarter came in at $12.5 million.

4Q 2019 Highlights

• Net revenues were RMB86.8 million or US$12.5 million, down 3.7% year-over-year.
• Sales of specialty films were RMB47.7 million or US$6.9 million, up 19.8% year-over-year.
• Gross margin was 35.7%, compared to 23.7% a year ago.
• Basic and diluted profit per share was RMB3.17 or US$0.46, compared to loss per share of RMB1.06 a year ago.
• Full Year 2019 Highlights
• Net revenues were RMB335.6 million or US$48.2 million, up 0.6% year-over-year.
• Sales of specialty films were RMB162.4 million or US$23.3 million, up 9.1% year-over-year. Gross margin was 24.9%, compared to 16.4% a year ago.
• Basic and diluted profit per share was RMB3.48 or US$0.50, compared to loss per share of RMB6.79 a year ago.
• Net cash provided by operating activities was RMB54.4 million or US$7.8 million, compared to RMB25.4 million a year ago.

"Despite persisting oversupply in the BOPET plastic films market, our revenues and gross margins continued to grow. Sales of specialty films increased by 9.1% year-over-year and accounted for 48.4% of our total revenues in 2019. Our gross margin increased by 8.5 percentage points to 24.9% for the year of 2019, as compared to 16.4% in 2018. We believe that our focus on innovation will enable the Company to expand end-user product applications and attract new clients and expand relationships with existing customers. We are encouraged by positive trends in revenues and gross margins which we expect to enable us to better navigate the industrial and economic landscape ahead," commented Mr. Zengyong Wang, CEO and Chairman of the Company.

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

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