This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Gulf Resources Reports Fourth Quarter And Fiscal Year 2012 Financial Results

Income from operations for the fourth quarter of 2012 was $2.6 million, as compared to $1.9 million for the corresponding quarter of 2011. The operating margin was 12.0% for the fourth quarter of 2012, as compared to 6.2% for the fourth quarter of 2011.

For the fourth quarter of 2012, the Company incurred other income of $13,302, as compared to $18,707 for the corresponding quarter last year.

Income taxes were $0.8 million for the fourth quarter of 2012, a decrease of 11.1% from $0.9 million for the fourth quarter of 2011. The Company's effective tax rate was 27% during the quarter, as compared to 30% in the same quarter last year.

Net income was $1.9 million for the fourth quarter of 2012, an increase of 90% from $1 million for the fourth quarter of 2011. Basic and diluted earnings per share in the fourth quarter of 2012 were $0.05 per basic and diluted share as compared to $0.03 per basic and diluted share in the fourth quarter of 2011. Weighted average number of basic shares for the three months ended December 31, 2012 was 34,706,356, as compared with 34,560,743 for the three months ended December 31, 2011.

Fiscal Year 2012 Financial Results

Revenue for fiscal year 2012 was $101.7 million, a decrease of 38.4% from $165.0 million for fiscal year 2011. The decrease in revenue was primarily attributable to the decreased demand in both the bromine and crude salt segments which led to lower average selling prices in 2012 on an annual basis. Gross profit was $28.3 million, a decrease of 62.5% from $75.4 million for fiscal year 2011. Gross margin for fiscal 2012 was 27.8%, as compared to 45.7% for fiscal year 2011. Operating income was $20.5 million, a decrease of 53.7% from $44.3 million for fiscal year 2011. Net income was $15.0 million, or $0.43 per basic and diluted share, a decrease of 51.5%  from 31.0 million, or $0.89 per basic and diluted share, for fiscal year 2011.

3 of 5

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,128.61 +31.71 0.18%
S&P 500 2,101.38 +2.85 0.14%
NASDAQ 4,982.4940 +15.3530 0.31%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs