It tech packaging, inc. announces fourth quarter and fiscal year 2020 financial results

Baoding, china, march 23, 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 fourth quarter and audited financial results for the fiscal year ended december 31, 2020. fourth quarter 2020 financial results  for the three months ended december 31,  ($ millions) 2020 2019  % change  revenues 32.48 33.61 -3.4%  regular corrugating medium paper ("cmp")* 19.68 19.61 0.3%  light-weight cmp** 5.24 5.08 3.1%  offset printing paper 4.88 7.16 -31.9%  tissue paper products 2.65 1.75 51.3%   face masks 0.04 nm nm  gross profit 0.75 5.60 -86.7%  gross profit (loss) margin 2.3% 16.7% -14.4 pp****  regular corrugating medium paper ("cmp")* 1.4% 15.4% -14.0 pp****  light-weight cmp** 3.9% 18.3% -14.4 pp****  offset printing paper 13.6% 33.7% -20.1pp****  tissue paper products*** -15.0% -43.1% 28.1 pp****  face masks 5.81% nm nm  operating income (loss) -1.97 3.19 -161.7%  net income -2.69 2.16 -224.8%  ebitda 1.56 6.98 -77.6%  basic and diluted earnings (loss) per share -0.06 0.10 -160.0%  * products from pm6  ** products from pm1  *** products from pm8 and pm9  **** pp represents percentage points   revenue slightly decreased by 3.4% to $32.48 million, primarily attributable to a decrease in sales volume of offset printing paper.
ITP Ratings Summary
ITP Quant Ranking