Yulong Expects to Announce 50% Jump in Fiscal 2016 Q1 Earnings
By Business Wire News
By Business Wire News
Yulong Eco-Materials Limited (NasdaqCM:YECO), an eco-friendly building products and construction waste management company, today announced it expects to report that its fiscal 2016 Q1 net income for the three months ended September 30, 2015 will increase by about 50 percent to approximately $3.5 million, compared to the $2.3 million in net income reported in the same quarter last year.
The main reason for this anticipated improvement is the estimated $2 million in fiscal 2016 Q1 revenue contributed by the company’s waste hauling and recycling division, which commenced operations in the fourth quarter of fiscal 2015. The gross margin on this revenue is about 60 percent, the highest of all company divisions.
Yulong expects to report that its overall fiscal 2016 Q1 revenue grew by about 14 percent to over $13 million.
The company will issue its full fiscal 2016 Q1 financial results on or around November 16, 2015.
About Yulong Eco-Materials
Yulong is a vertically integrated manufacturer of eco-friendly building products and a construction waste recycling company located in the city of Pingdingshan in Henan Province, China. The Company is currently Pingdingshan’s leading producer of fly-ash bricks and concrete as well as its exclusive provider of waste management services.
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