NEW YORK (TheStreet) -- Shares of China Ceramics (CCCL) - Get Report were gaining 29.8% to $1.70 on heavy trading volume Tuesday after the ceramic tile manufacturer announced its fiscal fourth quarter results.
China based-China Ceramics reported earnings of RMB 0.23 (4 cents) for the fourth quarter, compared to a loss of RMB 0.52 a share in the year-ago quarter. Revenue increased 9% year over year to RMB 240.1 million ($38.7 million) for the quarter, up from RMB 220.3 million in the year-ago quarter.
Analyst estimates were not available for the company.
"The fourth quarter saw nearly a 9% increase in our average selling price attributable to a moderately improved macroeconomic environment, our strong marketing efforts and long-standing reputation for best-in-class products and service," China Ceramics CEO Jiadong Huang said in a statement.
About 2.4 million shares of China Ceramics were trading by 10:04 a.m. Tuesday, well above the company's average trading volume of about 47,000 shares a day.