Canada’s Yalian Steel announces Q3 results

Monday, 30 August 2010 02:12:57 (GMT+2)

Yalian reports its results in Canadian dollars, as reported here, unless otherwise stated.  

For the three month period ended June 30, 2010, Yalian reported revenues of $211,527; cost of sales of $316,100; expenses of $680,262 and other loss of $276,707. Net loss for the three month period was $1,061,542, and the comprehensive income for the period was $1,453,236.

For the nine month period ended June 30, 2010, Yalian reported revenues of $524,609; cost of sales of $673,261; expenses of $2,611,314 and other income of $169,487. Net loss for the nine month period was $2,590,479.

As at June 30, 2010, cash and cash equivalents were $12,028,033, inventory was $1,408,730, prepaid expenses were $8,934,528, other amount receivable was $3,657,192, prepayments for property plant and equipment totaled $6,234,222, property plant and equipment was $54,460,418 and the company's working capital position was $15,335,439.

Yalian Steel Corporation is a British Columbia corporation focused on the production of Longitudinally Submerged Arc Welded (LSAW) steel pipe to service Asia's rapidly growing energy transportation infrastructure market.

 previous article  /  next article