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

Baoding, china, may 11, 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, today announced its unaudited financial results for the first quarter ended march 31, 2021.  for the three months ended march 31,  ($ millions) 2021 2020  % change  revenues 24.21 8.74 176.9%  regular corrugating medium paper ("cmp")* 16.96 5.72 196.5%  light-weight cmp** 3.75 2.02 85.9%  offset printing paper 2.12 nm  nm  tissue paper products 1.25 1.01 24.4%   face masks 0.13 nm nm  gross profit 1.83 -0.17 1178.8%  gross profit (loss) margin 7.5% -1.9% 9.4 pp****  regular corrugating medium paper ("cmp")* 8.5% 4.9% 3.6 pp****  light-weight cmp** 10.9% 12.9% -2.0 pp****  offset printing paper 19.4% nm nm  tissue paper products*** -36.5% -70.7% 34.3 pp****  face masks 18.8% nm nm  operating income (loss) -0.72 -2.87 74.7%  net income（loss）  -4.34 -2.44 -78.1%  ebitda -0.07 1.04 -106.7%  basic and diluted earnings (loss) per share -0.12 -0.11 -8.6%  * products from pm6  ** products from pm1  *** products from pm8 and pm9  **** pp represents percentage points   revenue increased by 176.9% to $24.21 million, primarily attributable to 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.
ITP Ratings Summary
ITP Quant Ranking