Orient Paper is expected to report earnings next year corrugating medium
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Orient Paper Dec. 9 release its fiscal 2010 fourth quarter and full year fiscal 2011 expectations. 2011 fiscal year, the company expects revenue in the 186 million to 206 million U.S. dollars between the gross margin in the 36 to 40 million U.S. dollars, net profit from 24 million to 27 million U.S. dollars, earnings per share in the 1.33 to 1.46 U.S. dollars between. In the fourth quarter of fiscal 2010, the company expects revenue of 3,300 million dollars, adjusted net profit over $ 5,000,000. Annual output of 36 million tons of Orient Paper corrugated paper production line is expected to start production in the first quarter of use. The company expects fiscal 2011 production of corrugated paper will be between 260,000 to 288,000 tons, output of high-grade offset paper in between 110 thousand to 104 thousand tons, digital photo paper production in between 2300-2500 t . Meanwhile, the company expects to end of 2011, corrugating medium production will exceed 20,000 tons per month, annual rate (annualized utilization rate) to reach 67%. Orient Paper Chairman and President Liu Zhenyong, said: "the end of fiscal 2010, fiscal year 2011, we hope, the introduction of new corrugated paper, digital photo paper and the continued production and demand China's paper market prices caused by the situation , will give impetus to the company's growth. Overall, we are optimistic about the company's business prospects and look forward to seize the market opportunity brought to us. "