Gulf Resources Q1 net loss widens to $557,747; bromine price drop hits margins

GULF RESOURCES, INC.

Revenue $9.30M, +4% YoY; net loss $557,747 vs loss $119,946; EPS -$0.05 vs -$0.01.
Bromine segment gross margin fell to 27% from 52%; avg selling price $4,193/ton vs $8,082/ton.
Operating loss $799,558 vs $65,087; cash from operations $4.83M vs $8.45M.
Cash $115.77M ($11.10/share); book value $274.84M ($26.35/share); cash ~4x market cap.
Chemical factory equipment expected by Q2/Q3 2023; installation/testing ~5–7 months after.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GULF RESOURCES, INC. reported three months ended March 31, 2023 results: revenue $9,302,007, net income ($557,747), EPS loss of $0.05.

Period: three months ended March 31, 2023
Revenue: $9,302,007
Net income: ($557,747)
EPS: loss of $0.05
Result: reported results

Exact text from the filing

today announced financial results for the three months ended March 31, 2023. · Revenues: $9,302,007, representing an increase of 4% over the same period of 2022. · The Net Loss was ($557,747) compared to a net loss of ($119,946) for the same period last year. · Earnings per share were a loss of $0.05 versus a loss of $0.01 for the same period last year.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

GULF RESOURCES, INC. filing history →

Source: SEC EDGAR

accession 0001193805-23-000733

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