logo
Share SHARE
FONT-SIZE Plus   Neg

Sutor Technology Group Q3 Profit Falls

Steel products manufacturer Sutor Technology Group Limited (SUTR) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
United Parcel Service, Inc. has started to test the use of drones to make commercial deliveries of packages to remote or difficult-to-access locations. On Thursday, the package delivery giant and drone-maker CyPhy Works staged a mock delivery of urgently needed medicine from Beverly, Massachusetts to Children's Island, which is about three miles off the Atlantic coast. Luxury electric car maker Tesla Motors Inc. (TSLA), Thursday filed a lawsuit against state officials over its right to sell vehicles directly to consumers in Michigan. The lawsuit has been filed against Governor Rick Snyder, Secretary of State Ruth Johnson and Attorney General Bill Schuette as defendants. Tesla... e.l.f. Beauty (ELF), a maker of cosmetic products, priced its initial public offering above its target range and raised about $141 million. The Oakland-based company opened sharply up on Thursday's trading on the New York Stock Exchange. The company said it sold about 8.3 million shares at $17 in...
comments powered by Disqus
Follow RTT