- IT Tech Packaging Inc ITP reported fourth-quarter FY21 sales growth of 38.7% year-on-year, to $45.1 million versus $32.48 million last year.
- The revenue increase was primarily driven by the higher sales volume of Corrugating Medium Paper (CMP) products.
- The gross profit jumped by 481.8% Y/Y to $4.34 million, and the gross margin expanded 730 basis points to 9.6%.
- The operating margin was 4.3%, and operating income for the quarter rose 199% to $1.95 million.
- The company held $11.2 million in cash and equivalents as of December 31, 2021.
- EBITDA of $8.66 million increased 229% Y/Y.
- The company reported EPS of $0.07 versus $(0.06) the previous year.
- Price Action: ITP shares are trading higher by 6.29% at $0.21 on the last check Tuesday.
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