Fushi Copperweld jumps 13% after Q1 revenue beats expectations
Fushi Copperweld, Inc. (Nasdaq:FSIN) shares are rising 13% after the China-based maker of wire products reported early Wednesday that its first-quarter revenue soared 156% to $54 million from $21.1 million a year earlier. Wall Street analysts were looking for $51.6 million. Quarterly profit matched Wall Street’s expectation of $7.6 million, or $0.26 per share, versus $4.9 million, or $0.21 per share, a year ago.
In Wednesday morning trading, FSIN shares are rising 13.3%, or $2.56, at $21.81. For detailed price information and recent news stories about Fushi Copperweld, click FSIN.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
Read More
(click a star)
Enter comment: