China Armco Metals Inc. (CNAM: Quote) Friday reported fourth-quarter net loss of $1.51 million or $0.10 per share, compared to $1.6 million or $0.11 per share last year.
Sales for the quarter declined 61 percent to $9.46 million from $24.5 million last year, due mainly to the sharp price changes and market uncertainty. Gross margin, or percentage of sales left after deducting production cost, increased to 5.5 percent from 3.1 percent last year.
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by RTT Staff Writer
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