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Sutor Technology Group Q3 Profit Falls

Steel products manufacturer Sutor Technology Group Limited (SUTR: Quote) reported third-quarter net income of $1.2 million or $0.03 per share, down from $3.5 million or $0.09 per share in the same period a year ago.

China-based Sutor's revenues for the quarter increased 8.4 percent to $109.9 million from $101.4 million in the year-ago quarter, mainly due to higher revenues from the company's HDG and acid-pickled steel products.

Total operating expenses for the quarter increased slightly to $3.15 million from $3.06 million last year.

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by RTT Staff Writer

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