IT Tech Packaging, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:31 pm EST
Share
IT Tech Packaging, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 15.77 million compared to USD 31.71 million a year ago. Net loss was USD 1.98 million compared to USD 1.89 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to USD 0.19 a year ago. Diluted loss per share from continuing operations was USD 0.2 compared to USD 0.19 a year ago.
For the nine months, sales was USD 65.58 million compared to USD 78.98 million a year ago. Net loss was USD 5.96 million compared to USD 4.66 million a year ago. Basic loss per share from continuing operations was USD 0.59 compared to USD 0.47 a year ago. Diluted loss per share from continuing operations was USD 0.59 compared to USD 0.47 a year ago.
IT Tech Packaging, Inc., formerly Orient Paper, Inc. is a holding company for the Hebei Baoding Orient Paper Milling Company Limited (Orient Paper HB), a producer and distributor of paper products in China. The Company is engaged in production and distribution of four categories of paper products: corrugating medium paper (CMP), offset printing paper, digital photo paper and tissue paper products. The Company, through Baoding Shengde Paper Co., Ltd. (Orient Paper Shengde), is engaged in production and distribution of digital photo paper. The Company operates through two segments: Orient Paper HB, which produces printing paper and CMP, and Orient Paper Shengde, which produces digital photo paper. CMP is used in the manufacturing of cardboard. The Company has over two corrugating medium paper production lines, including PM6 and PM1. The Company also produces finished tissue paper products that are marketed and sold under the Orient Paper brand.
IT TECH PACKAGING, INC. 
