Gulf Resources Inc. (GFRE.OB) Posts Q1 Financials, Reporting Increases across the Board Due to Eco-Friendly Chemical Sales
Chemical products manufacturer Gulf Resources Inc. today announced its financial results for the first quarter of 2009, posting increases in sales revenue and an update to shareholders on its business outlook for the future. For the three months ended March 31, 2009, Gulf Resources reported a 7.3 percent increase in net revenue at $23.6 million, up from $22.0 million the year prior. Net income for the first quarter was $8.9 million, up 5 percent from $8.4 million the same period of 2008. Xiaobin Liu, CEO of Gulf Resources, said the company’s move toward eco-friendly products attributed to its revenues increase.…