Ossen Innovation FY19 Net Income Rises - Quick Facts

(RTTNews) - Ossen Innovation Co., Ltd. (OSN) reported that its fiscal 2019 net income attributable to Ossen increased by 6.7%, to $11.1 million from $10.4 million, prior year. Earnings per ordinary share was $0.56, compared to $0.52. Earnings per ADS was $1.68 compared to $1.56.

Fiscal 2019 revenues increased by 2.1%, to $138.9 million from $136.1 million, last year. The company said the increase was mainly attributable to a 3.8% increase in sales of rare earth coated PC wires and PC strands and a 151.8% increase in other products, partially offset by a 41.4% decrease in plain surface products and a 2.9% decrease in zinc coated PC wires and PC strands.