Lihua International Inc. (LIWA) Posts Record Profit, up 117% for Q1
Lihua International Inc., a leading Chinese developer, designer and manufacturer of low-cost, high-quality alternatives to pure copper products, yesterday announced financial results for the first quarter ended March 31, 2011. Sales for the first quarter of 2011 increased 117 percent to $136.9 million compared with sales of $63.2 million in the first quarter of 2010. Gross profit for the first quarter of 2011 was $16.9 million, up 43 percent from gross profit of $11.8 million for the first quarter of 2010. Gross margin decreased to 12.3 percent in the first quarter of 2011 from 18.7 percent for the same period…