This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gulf Resources Provides 2013 Fiscal Year Financial Guidance

SHANDONG, China, Jan. 21, 2013 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (Nasdaq:GURE) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced financial guidance for fiscal year 2013.

Due to the influence of the European debt crisis and the slowdown in the domestic economy, the Company has not been able to meet its previously announced earnings forecast set forth in the Company's 2012 financial guidance. As the market demand driven by the economy condition continues to fall, the bromine sales price experienced significant decline over the year, which adversely affected the Company's operating performance.

"Due to the impact of the decrease in market demand driven by the worsen economic condition, the average selling price of price had declined to as low as RMB18,500 per tonne in September, which was significantly lower than the estimated lower range of RMB23,150 per tonne in the Company's 2012 financial guidance. Despite the fact that we have implemented a series of cost-saving and control measures throughout the year to overcome the tough operating environment, such low bromine price level still resulted in a decrease of approximately 15% in our performance in fiscal 2012, as compared to the previously announced earnings forecasts." Mr. Liu, the CEO of the Company continues, "We expect that in the year 2013, stimulus plans to be issued as a result of the replacement of the top officials in China's central government will stimulate the weak economic environment. We believe the average selling price of bromide in the year 2013 will further increase and drive our business performance to grow at least 30% year on year basis."

Based on the current business outlook and the anticipated bromine price levels, the Company forecasts its total revenue and net income to record approximately $122.8 million and $18.7 million, respectively, in fiscal year 2013.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.24 1.30%
FB $99.80 -4.10%
GOOG $683.10 -0.07%
TSLA $148.02 -9.00%
YHOO $27.05 -3.30%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs