This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Liuyang Fireworks earns $401,657 in third quarter 2009-11-20 07:28 ET - News Release Mr. Miao Hu reports LIUYANG FIREWORKS REPORTS THIRD QUARTER RESULTS
Liuyang Fireworks Ltd. today released its financial results for the three- and nine-month periods ended Sept. 30, 2009.
"We are extremely pleased with our third quarter performance, our first full quarter as a public company," said Miao Hu, president and chief executive officer, Liuyang Fireworks. "We experienced strong revenue growth and increased orders for our fireworks products in advance of the busy Christmas and year-end season in Europe and North America as well as for Chinese new year celebrations. Our progress, we believe, is the result of our strong relationships with distributors around the world and our commitment to quality products, innovative packaging and customer safety."
Third quarter financial results
Revenue for the third quarter of 2009 was $4-million, up 28 per cent from $3.1-million for third quarter of 2008. Revenue for the nine-month period of 2009 was $8.7-million, an increase of 41 per cent from $6.1-million for the same period of 2008. Revenue growth was due to an expanded international distribution network, higher sales emanating from Europe and an increased focus on strategic clients.
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