logo
Share SHARE
FONT-SIZE Plus   Neg

China Armco Metals Q4 Loss Narrows

China Armco Metals Inc. (CNAM) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts. Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share.
comments powered by Disqus
Follow RTT