Longwei Petroleum Investment Holdings Ltd. (LPHI) Reports Strong Third Quarter
Longwei Petroleum Investment Holdings Ltd. reported income of $7.21 million, or $0.09 per share, for the third quarter of 2009. The company earned $5.5 million, or $0.07 per share, in the same quarter of last year Revenues also increased year over year to $59.3 million from $44.48 million. Longwei Petroleum Investment Holdings Ltd. had $9.4 million in cash, and no long-term debt as of September 30, 2009. Cai Yongjun, the CEO of Longwei Petroleum Investment Holding Ltd., said, “I am very pleased with our financial results for the first quarter of fiscal 2010. I can also say that plans to…