China Sun Group (CSGH.OB) Posts Q3 2010 Results, Future Outlook
China Sun Group High-Tech Co. Ltd. produces cobalt-based raw materials for rechargeable Lithium-ion (Li) batteries in China. The company today announced its financial results for the third quarter ended February 28, 2010, and its business outlook for the upcoming years. The company reported third-quarter revenues at $10.8 million, up 22.7 percent from $8.8 million for the third quarter of 2009, an increase attributable mainly due to sales of the company's newly launched LIP product, which accounted for about 19.7 percent of total sales in the quarter. Gross profit was $3.4 million, up 42 percent compared to $3.2 million for the…