Gulf Resources (GURE) Sees FY16 Revenue of $160M-$170M

Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced its Sales and Earnings Guidance for 2016.

For the year 2016, Gulf Resources projects annual revenue from $160-$170 million compared to revenues of $162 million in 2015. Net Income is projected to be between $35-36 million, compared to $34.1 million in 2015. Fully diluted EPS should equal or somewhat exceed the $0.74 reported in 2015.

For the second quarter, revenues should be between $49-$50 million, compared to $49.35 million the second quarter of 2015. Net income should be between $10-$11 million, as compared to $10.8 million in the second quarter of 2015. EPS should be between $0.21-$0.24, compared to $0.23 in the second quarter of 2015.

These projections represent management’s best estimates at the current time. They assume no improvement in the current weakened state of the Chinese economy or in some of the economically sensitive industries that are customers of Gulf Resources. While management does believe that the economy will improve at some point, it wants to maintain its conservative approach.

These projections also assume that there will be costs but no revenues associated with the natural gas drilling project in Sichuan. Once drilling has begun, Gulf Resources will update these projections.

In addition, to further keep investors informed, Gulf Resources has posted a new investor presentation to its website. The presentation can be found in the “About Gulf” tab, under Corporate PPT.

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