Gulf Resources, Inc. (GFRE.OB) Highlights a Healthy Fourth Quarter
Gulf Resources engages in the production of specialty industrial chemical products in The People's Republic of China. Investors in the company were pleased on Monday following the release of some very promising fiscal 2008 fourth quarter results. Along with revenues upwards of $24.1 million, which represents an increase over fourth quarter 2007 of more than 57 percent, Gulf Resources was happy to report a hefty gross profit of $9.9 million. That figure was a substantial year-over-year improvement of 61 percent. Cash-on-hand neared $31 million as well, along with a net income which overshadowed 2007's number by 137 percent. Company officials…