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25.03.2015 22:08:04
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Orient Paper Profit Falls On Lower Revenue, Margins
(RTTNews) - Chinese paper products company Orient Paper Inc (ONP) on Wednesday reported fourth-quarter net earnings of $2.2 million or $0.11 per share compared with $3.5 million or $0.19 per share last year.
Revenues for the quarter slid 7.1% to $32.7 million from $35.2 million in the prior year.
The company said its production was hurt by government mandated output halt during the APEC Summit and the absence of digital photo manufacturing during the mandated relocation of the facility.
Results were also hurt as gross margin slid 3.2 percentage points to 17.1%.
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