IT Tech Packaging Q3 net loss $1.89M; revenue falls 29.7% to $31.71M

IT TECH PACKAGING, INC.

2022-Q3 EPS reported -$0.07 revenue$78,979,716

Net loss of $1.89M vs net income of $1.54M in Q3 2021; loss per share $0.03.
Revenue $31.71M, down 29.7% YoY, driven by lower sales of CMP, offset printing paper, and tissue paper.
Gross profit up 52.8% to $2.78M; gross margin improved to 8.8% from 4.0%.
EBITDA $2.43M, down 54.4% from $5.32M in prior-year quarter.
Factory operations constrained by COVID-19 lockdowns in China during the quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IT TECH PACKAGING, INC. reported the three months ended September 30, 2022 results: revenue $31.71 million, net income $1.89 million, EPS loss per share of $0.03.

Period: the three months ended September 30, 2022
Revenue: $31.71 million
Net income: $1.89 million
EPS: loss per share of $0.03
Result: reported results

Exact text from the filing

-0.03 0.03 -200.0 % * Products from PM6 ** Products from PM1 *** Products from PM8 and PM9 **** pp represents percentage points · Revenue decreased by 29.7% to approximately $31.71 million, mainly due to the decrease in sales volume of CMP, offset printing paper and tissue paper products. · Gross profit increased by 52.8% to approximately $2.78 million. Total gross

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Source: SEC EDGAR

accession 0001213900-22-071251

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