NEW YORK (TheStreet) -- Shares of Gulf Resources Inc. (GURE) are higher by 11.24% to $1.98 in after-hours trading on Friday following the company's 2014 first quarter earnings report which showed net income was $4.3 million, or 11 cents per basic and diluted share, compared to $1.9 million, or 5 cents per basic and diluted share from the year ago quarter.
The bromine and crude salt manufacturer reported net revenue increased 14% to $25.6 million, from $22.5 million for the 2013 first quarter.
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TheStreet Ratings team rates GULF RESOURCES INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GULF RESOURCES INC (GURE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."
Highlights from the analysis by TheStreet Ratings Team goes as follows: