Sutor Technology Group Limited, a leading China based private manufacturer and distributor of high end fine finished steel products and welded steel pipes used by a variety of downstream applications, announced preliminary financial results for the fourth fiscal quarter ended June 30 2011.
Based on preliminary estimates, the company anticipates that its revenues, gross profits, gross margin, net income and earnings per share will be as follows:
| Q4 FY'11 | Q4 FY'10 | Change | |
| Revenue | 129 | 125.3 | 3.00% |
| Gross Profits | 13.9 | 10.5 | 32.40% |
| Gross Margin | 10.80% | 8.30% | 30.10% |
| Net income | 5.4 | 3.4 | 58.80% |
In million USD
Ms Lifang Chen chairwoman and CEO of Sutor Technology Group said "We believe that our strong financial performance for the fourth fiscal quarter 2011 reflects the benefits and advantages of our diversified product mix, vertically integrated business model, strong brand name recognition, and our ability to continue market expansion, which distinguishes Sutor from its competitors. Despite the uncertainty in the global economy and high volatility in the capital market, we remain focused on seeking operating excellence and delivering outstanding customer services. We encourage investors to tour around our manufacturing facilities and visit our website for the latest developments of our company. We will provide more details on our fourth fiscal quarter and full fiscal year performance when we submit our annual report on Form 10-K at the end of September."
