Home / Knowledge / News / Textiles / China Linen plans to expand its operations across industrial value chain
China Linen plans to expand its operations across industrial value chain
15
Mar '10
China Linen Textile Industry, Ltd., a China-based company engaged in the production and sale of linen yarn and various types of linen fabric, revised certain guidance for the full fiscal year ending December 31, 2010. Guidance for the full fiscal year 2010 was previously disclosed on February 23, 2010 during a virtual presentation through RedChip Companies, Inc., its investor relations firm.

The presentation included 2010 guidance for the Company's estimated revenue, gross profit, net income and fully diluted earnings per share in the amounts of $38.1 million, $12.7 million, $9.3 million and $0.46, respectively. The Company has reassessed the assumptions that underlie its fully diluted earnings per share guidance for 2010, and is withdrawing its projection of fully diluted earnings per share of $0.46 for 2010. The Company has determined that its estimated fully diluted earnings per share for 2010 is $0.39 per share.

James Shaofeng Qi, Chief Financial Officer of China Linen, stated: "We are pleased with our results for 2009, which we attribute to scientific and technological innovation and the achievement of certain of our development goals. At the end of 2009, the Company's revenue grew 31.2 percent to $30.1 million, up from $22.95 million in 2008; and comprehensive net income grew 35.6 percent to $6.06 million, up from $4.47 million. In the past five years, the Company has maintained high growth, achieving a compound annual growth rate of 39 percent in revenue, 45 percent in gross profit and 42 percent in net income. We continue to expect double-digit growth in 2010."

China Linen plans to expand its operations across the industrial value chain, to upstream and downstream,particularly in dyeing, yarn-dyed finishing and home textile areas so as to increase profitability and reinforce risk control capacity.

A copy of the Company's February 23rd presentation is available as part of the Company's Form 6-K furnished to the Securities and Exchange Commission.

China Linen Textile Industry Ltd


Must ReadView All

New US alliance to promote postal package delivery service

Textiles | On 15th Aug 2018

New US alliance to promote postal package delivery service

A group of US retailing, e-commerce and logistics firms recently...

Courtesy: Industriall Union

Apparel/Garments | On 15th Aug 2018

IndustriALL-Esprit agreement to improve workers' rights

IndustriALL Global Union recently signed a global framework agreement ...

Indian minister orders fresh consultations on e-com policy

Textiles | On 15th Aug 2018

Indian minister orders fresh consultations on e-com policy

Indian commerce and industry minister Suresh Prabhu has asked for...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search