Coal Demand Drives Solid Q3 Results for L&L Energy (LLEN)
Seattle-based L&L Energy Inc., a company focusing on coal mining and distribution businesses in China, today announced its third-quarter results for fiscal year 2011, reporting record revenue net income. The company posted revenue for the quarter at $65.9 million, a 74 percent increase over the $38.0 million reported for the same quarter of fiscal 2010. The company attributes the sales growth to sustained demand for coal and subsequent price increases. Gross profit for the third quarter grew 33 percent to $21.4 million, compared to $16 million reported for the comparable quarter of fiscal 2010. Gross margin declined slightly sequentially to…