Gulf Resources, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:16 pm EDT
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Gulf Resources, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 8.01 million compared to USD 15.71 million a year ago. Net loss was USD 0.681816 million compared to net income of USD 3.9 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to basic earnings per share from continuing operations of USD 0.37 a year ago.
For the six months, sales was USD 17.31 million compared to USD 24.64 million a year ago. Net loss was USD 1.24 million compared to net income of USD 3.78 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to basic earnings per share from continuing operations of USD 0.36 a year ago.
Gulf Resources, Inc. is a holding company. The Company manufactures and trades bromine and crude salt; manufactures and sells chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling, wastewater processing, papermaking chemical agents and inorganic chemicals, and manufactures and sells materials for human and animal antibiotics. The Company operates in three segments: bromine, crude salt and chemical products. Crude salt is the principal material in alkali production, as well as chlorine alkali production and is used in the chemical, food and beverage, and other industries. Its Chemical products include Hydroxyl guar gum, Demulsified agent, Corrosion inhibitor for acidizing, Bactericide, Iron ion stabilizer, Flocculants agent, Bromopropane, Solid lubricant, Polyether lubricant and Chlorantraniliprole. Its production sites are located in the Shandong Province in northeastern China.
GULF RESOURCES, INC. 
