Gulf Resources, Inc. Provides Earnings Guidance for Third Quarter and Full Year of 2021
September 14, 2021 at 08:30 am EDT
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Gulf Resources, Inc. provided earnings guidance for third quarter and full year of 2021. For third quarter, the company expected net revenues of between $16.2 and $16.7 million compared to net revenues of $11.1 million in the second quarter of 2021 and $10.5 million in the same quarter of 2020. Net income expected to be between $4.0 and $4.7 million compared to a net loss of $2.9 million in the same quarter of 2020 and net loss of $2.7 million in the second quarter of 2021.
For full year, expected net revenues of between $46.0 and $46.7 million compared to 2020 net revenues of $28.2 million. Net income expected to be between $4.0 and $4.6 million compared to 2020 net loss of $8.4 million. In the first six months of 2021, company had a net loss of $5.2 million. This means company currently expect strong profits in both the third and fourth quarter 2021.
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. 
