Gushan Environmental Energy Limited (GU)
Q4 2010 Earnings Call Transcript
March 30, 2011 8:30 am ET
Wilson Kwong – President
Frank Chan – Principal Financial Officer
JinMing Liu – Ardour Capital Investments
Good morning, and thank you for participating in the fourth quarter and fiscal year 2010 earnings conference call of Gushan Environmental Energy. At this time all participants are in a listen-only mode. After the call, we will conduct a question-and-answer section. Today's conference is being recorded. I would now like to turn the call over to Mr. Wilson Kwong, President of Gushan Environmental Energy. Please proceed sir.
Good morning, ladies and gentlemen, and welcome to Gushan’s fourth quarter 2010 earnings call. Joining me on the call is Frank Chan, Principal Financial Officer of Gushan. Please note that today's discussion may contain forward-looking statements made under the Safe Harbor Provisions of US Federal Securities laws. Please also see today’s press release under the section Safe Harbor statement for a discussion of risk and uncertainties that may affect our results. Before opening the call to questions, I would like to briefly review our fourth-quarter and full-year 2010 results.
Gushan reported strong revenue growth and a return to profitability in the fourth quarter of 2010. The improvement is attributable to the impact of the company's acquisition in November 2010 of a majority stake in Mianyang Jin Xin Copper Limited, which operates the recycled copper product business. Gushan acquired Jin Xin as part of its ongoing efforts to diversify into related environmental and energy businesses. As a result, total revenues for the quarter rose 223.9% year-to-year and 463.4% quarter-on-quarter to 35.4 million.