DALIAN, China, Aug. 15, 2013 (GLOBE NEWSWIRE) -- Andatee China Marine Fuel Services Corporation (Nasdaq:AMCF), a leading independent operator engaged in the production, storage, distribution, trading of blended marine fuel oil for cargo and fishing vessels in China, today announced its unaudited financial results for the second quarter ended June 30, 2013. Second Quarter 2013 Highlights
- Revenue in the second quarter of 2013 was $75.8 million, a 9.6% increase from the second quarter of 2012
- Gross profit increased 44% year over year to $3.9 million as compared to $2.7 million in the same period of 2012, while gross profit margin during the quarter improved 120 base points year over year to 5.2% from 4%
- Operating income in the second quarter of 2013 was $1.1 million, a 2.0% increase from the corresponding period in 2012
- The Company ended the quarter with cash balance of approximately $3.5 million and restricted cash of $46.9 million.