The company reported a 3767.4% year-over-year increase in net income to $2.9 million, up from a net loss of $79,414. Diluted earnings per share rose to 28 cents from a loss of a penny a share in the second quarter of 2013. Revenue surged 131.67% to $175.5 million from $75.8 million in the year-ago period.
The stock was up 58.63% to $2.78 at 11:24 a.m. More than 1.47 million shares changed hands, which eclipsed the average volume of 38,664.
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Separately, TheStreet Ratings team rates ANDATEE CHINA MARINE FUEL as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ANDATEE CHINA MARINE FUEL (AMCF) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk, disappointing return on equity and poor profit margins."
You can view the full analysis from the report here: AMCF Ratings Report