Orient Paper, Inc. (ONP) Monday said it expects first-quarter revenues to be lower than the same quarter in 2012. The China-based producer of paper products said it believes 2013 to continue to be a challenging year in terms of earnings growth.
For the full-year 2013, the firm expects net income to be between $9 million and $10 million, and earnings per share to be in the range of $0.51 and $0.56.
Revenues for the year are expected to range of between $144 million and $159 million.
Last week, Orient Paper reported 63.6% percent fall in fourth-quarter net income to $2.0 million. Earnings per share were $0.11, compared to $0.30 in the preceding year. However, total revenues increased 11.9 percent to $43.5 million.
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