It tech packaging, inc. announces second quarter 2021 unaudited financial results

Baoding, china, aug. 10, 2021 /prnewswire/ -- it tech packaging, inc. (nyse american: itp) ("it tech packaging" or the "company"), a leading manufacturer and distributor of diversified paper products in north china, announced today its unaudited financial results for the second quarter ended june 30, 2021. second quarter 2021 unaudited financial results  for the three months ended june 30,  ($ millions) 2021 2020  % change  revenues 46.53 26.36 76.5%  regular corrugating medium paper ("cmp")* 30.25 17.37 74.1%  light-weight cmp** 6.56 4.50 45.7%  offset printing paper 7.18 1.26 469.2%  tissue paper products 2.43 2.38 2.0%   face masks 0.11 0.85 -87.1%  gross profit 3.03 2.56 18.4%  gross profit (loss) margin 6.5% 9.7% -3.2 pp****  regular corrugating medium paper ("cmp")* 5.1% 9.0% -3.9 pp****  light-weight cmp** 6.7% 12.5% -5.8 pp****  offset printing paper 17.8% 23.7% -5.9pp****  tissue paper products*** -9.6% -15.7% 6.1 pp****  face masks 10.0% 59.5% -49.5 pp****  operating income (loss) 0.43 -0.80 154.0%  net loss -0.45 -0.98 -53.8%  ebitda 9.03 2.90 210.9%  basic and diluted earnings (loss) per share -0.01 -0.04 75.8%  * products from pm6  ** products from pm1  *** products from pm8 and pm9  **** pp represents percentage points revenue increased by 76.5% to $46.53 million, primarily attributable to the increase in sales volume of cmp and offset printing paper, as well as the increase in average selling prices ("asps") of cmp and tissue paper products.
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