ShengdaTech Inc.'s (NASDAQ:SDTH) fourth-quarter revenue jumps 23 percent. ShengdaTech Inc. trades on the “NASDAQ’ under the Stock Symbol, “SDTH” For the Latest information regarding “SDTH” make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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ShengdaTech Inc.'s (NASDAQ:SDTH) fourth-quarter revenue jumped 23 percent, better than Wall Street expected, as the chemical company reported stronger sales of an ingredient for tires. Net income was lower though, because of a one-time gain last year. ShengdaTech shares rose 4 cents, or 0.6 percent, to $6.94.
The company said Tuesday that its net income was $6.7 million, or 12 cents per share, versus $9.6 million, or 12 cents per share, in the year-ago period. They also reported a $5.5 million gain in the fourth quarter of 2008 from repurchasing convertible notes. There are now fewer outstanding shares because of the way the shares associated with the convertible debt were counted.
About ShengdaTech Inc:
ShengdaTech, Inc. engages in manufacturing, marketing, and selling nano precipitated calcium carbonate (NPCC) products. The company converts limestone into NPCC using its proprietary technology co-developed with
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