UNR Holdings (UNRH.OB) Posts Solid Q2 Results

QualityStocks would like to highlight UNR Holdings (OTCBB: UNRH), a holding company that has a 68% ownership in its subsidiary, 494 UNR. 494 UNR is a diverse construction company with more than 40 years of success serving the Russian construction market. The Company specializes in general and infrastructure construction services, such as designing and building multi-story apartment buildings for middle and upper middle class families, office buildings, highways, bridges, and production of a road base infrastructure construction product. It is also a provider of provider of infrastructure construction services for government oil and gas projects

In the company’s news yesterday,

UNR Holdings, Inc., posted its financial results for the second fiscal quarter ended June 30, 2010.

Net revenues for the second quarter increased 318.5 percent to $19.9 million, as compared to revenues of $4.8 million for the second quarter of 2009. The company attributes the positive numbers primarily to a gradual increase in demand for the apartments UNR constructs, as well as to improved demand for its proprietary road base and slopes stabilization material Prudon, which UNR supplies to infrastructure projects throughout Russia.

Gross profit for the quarter increased 220.4 percent to $6.2 million from $1.9 million in the same period a year ago. Gross margin was 31 percent for the second quarter, as compared to 40.5 percent in the same quarter last year.

UNR reported that selling, general and administrative expenses were $818,452 during the second quarter, as compared to $724,977 for the second quarter of 2009.

Income from operations for the second quarter of 2010 was $5.4 million, up 345.2 percent from $1.2 million in the second quarter of fiscal year 2009. Operating margin was 27 percent, up from 25 percent in the same quarter of 2009.

Net income attributable to the company in the second quarter increased 269.1 percent to $3.4 million, as compared to $918,873 during the comparable quarter of 2009.

As of June 30, 2010, UNR had approximately $39.0 million in cash and cash equivalents, $198.5 million in total assets, and no long-term debt; shareholders’ equity at June 30, 2010 was approximately $33.6 million, up 20.0 percent from approximately $28.0 million at December 31, 2009.

Alexey Kim, CEO of UNR, said the company’s solid second-quarter financials reflect the company’s strength throughout overall economic hardships, and may signal that Russia’s financial position is growing stronger.

“We are very excited to be able to share such strong financial results with our investors, and we believe that they are a testament to our economic resilience. We experienced an improvement in demand for our residential housing projects in the second quarter, which is a promising sign that Russia is emerging from the downturn caused by the global credit crisis in 2008 and 2009. We plan to continue leveraging our experience and reputation as one of the most respected construction firms in the Moscow area, and we believe that UNR is in a strong position to thrive both financially and competitively,” Kim stated in the press release.

About QualityStocks

QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 750,000+ subscribers that receive The Daily Stock Newsletters.

To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net

Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net

Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.