ERJ staff report (DS)
New York -- Asia Carbon Industries, Inc.reported reduced revenues and profits for the quarter ended June 30, 2012. Tonnage sales of carbon black increased to 13,158 tons.
Revenues for the quarter ended June 30, 2012 were $13.2 million, down 2percent from $13.5 million for the same period in 2011.
Gross profit was $2.94 million in the quarter ended June 30, 2012, a decrease of 0.4 percent from $2.95 million for the same period in 2011.
During the three months ended June 30, 2012 and 2011, the Company sold 13,158 tons and 12,608 of carbon blacks, respectively, an increase of 460 tons or 4%. Management attributes the increase in sales quantity to the quality of Asia Carbon's products and the increase in the number of new customers.
The Company's total carbon black production capacity is 61,000 tons per annum. The annualized production/total capacity utilization rate was 86 percent and 83 percent during three months ended June 30, 2012 and 2011, respectively.
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Press release from Asia Carbon