Market Watch: China Armco Metals - April 1, 2010
01 April 2010 - 3:38PM
Marketwired
Stock Market Alerts' performance stock list includes: China Armco
Metals, Inc. (AMEX: CNAM), Freeport-McMoRan Copper & Gold Inc.
(NYSE: FCX), CONSOL Energy Inc. (NYSE: CNX) and Alcoa, Inc. (NYSE:
AA).
Yesterday after the markets closed, China Armco Metals, Inc.
(AMEX: CNAM) announced record financial results for the year ended
December 31, 2009.
For the full year of 2009 China Armco generated
record revenue of $86.9 million as compared to revenue of $55.4
million for the same period of 2008, an increase of 57%. The
performance for the full year of 2009 reflected a marked
improvement in the Chinese economy, particularly in the steel
production industry resulting in an increase in demand and prices
of metal ore in China Armco's metal ore distribution business.
Performance was also aided by an increase in capital available to
China Armco through various credit facilities obtained throughout
2009.
Cost of goods sold for the full year of 2009 were $78.0 million,
an increase of $26.8 million compared to the full year of 2008.
Gross margins were 10.3% for the year ended
December 31, 2009 versus gross margins of 7.5% in 2008.
Overall margins were favorably impacted by a rising price
environment for a number of metal ore distributed by China Armco
coupled with China Armco's effective sourcing capabilities. China
Armco derives profits from sales of several types of ore. Each type
of ore has a target gross margin and when [combined] produced the
10.3% blended gross profit margin for China Armco. Operating
expenses for the full year of 2009 were $1.7 million as compared to
$1.3 million for the same period in 2008. The increase is mainly a
result of costs associated with the launching of its metal
recycling operations in 2010.
For the year ended December 31, 2009 net income rose to $5.1
million as compared to $3.3 million in 2008, an increase of 55%. On
a basic and diluted basis, earnings per share for the full year of
2009 were $0.51 per share based on 10.1 million weighted average
common shares outstanding as compared to $0.44 per basic and
diluted share in 2008 on 7.5 million weighted average common shares
outstanding.
Investors are urged to read yesterday's press release for
complete details.
The stock closed yesterday at $9.39 cents a share.
For an in-depth profile of China Armco Metals,
visit
http://www.wallstreetenews.com/view-company-profiles.php?profile=CNAM_080909.
To receive FREE Mobile Stock Alerts formatted especially for
your cell phone, text the word "press" in the subject line to
68494.
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) down 0.1% on
8.2 million shares traded. FCX is a leading international mining
company with headquarters in Phoenix, Arizona.
CONSOL Energy Inc. (NYSE: CNX) up 0.8% on 8.1 million shares
traded. CONSOL Energy, a high-Btu bituminous coal and natural gas
company, is a member of the Standard & Poor's 500 Equity Index
and the Fortune 500.
Alcoa, Inc. (NYSE: AA) down 1.1% on 23.3 million shares traded.
Alcoa, Inc. is one of the world leaders in the production and
management of primary aluminum, fabricated aluminum and alumina
combined, through its active and growing participation in all major
aspects of the industry.
This advertisement is provided by Wall Street Enews, a division
of Stock Market Alerts LLC, an electronic broadcaster and publisher
of this release, and hereafter referred to as "the company". The
company also maintains a contractual, working relationship with
Wall Street Capital Funding LLC. and its Wall Street News Alert
brand. For current services performed for China Armco Metals, Inc.
(AMEX: CNAM), China Direct Industries, Inc. ("China Direct
Industries"), Dragon Capital Group Corp, China America Holdings,
and Dragon International Group Corp., the company has been
compensated a total of Three Hundred Thousand Dollars (Two Hundred
and Fifty Thousand dollars for current services and Fifty Thousand
dollars for previous services) by China Direct Investments Inc., a
Florida corporation, and a wholly owned subsidiary of China Direct.
The company does not hold any shares of the stock. Because the
company received compensation for its services, there is an
inherent conflict of interest in the company statements and
opinions and such statements and opinions cannot be considered
independent.
The information contained in this press release is for
informational purposes only, and not to be construed as an offer to
sell or solicitation of an offer to buy any security. The company
makes no representation or warranty relating to the validity of the
facts presented nor does the company represent or warrant that all
material facts necessary to make an investment decision are
presented above. Stock Market Alerts LLC is an advertising company
and therefore, this release should be viewed for informational
purposes only.
The company relies exclusively on information gathered on the
public company, such as public filings, press releases and its web
sites. Investors should use the advertising information contained
in this release as a starting point for conducting additional
research on the public company in order to allow the investor to
form his or her own opinion regarding the public company. Factual
statements contained in this publication are made as of the date
stated and they are subject to change without notice. The company
is not a registered investment adviser, broker or a dealer.
Investing in the public company that this release is providing
service for should be reviewed as speculative and a high-risk and
may result in the loss of some or all of any investment.
This release may contain statements that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended. The words "may," "would," "will,"
"expect," "estimate," "anticipate," "believe," "intend," and
similar expressions and variations thereof are intended to identify
forward-looking statements.
AMEX:CNAM NYSE:FCX NYSE:CNX NYSE:AA
Freeport McMoRan (NYSE:FCX)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Freeport McMoRan (NYSE:FCX)
Historical Stock Chart
Von Jul 2023 bis Jul 2024