DALLAS, Feb. 17, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring China Precision Steel Inc. (Nasdaq:CPSL). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
It is available at: http://www.beaconequity.com/i/CPSL
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China Precision Steel Inc. (CPSL) is a steel processing company principally engaged in the manufacture and sale of high precision cold-rolled steel products and in the provision of heat treatment and cutting of medium and high carbon hot-rolled steel strips. The Company conducts its operations principally in China through its wholly owned operating subsidiaries, Shanghai Chengtong Precision Strip Co. Ltd. (Chengtong) and Shanghai Blessford Alloy Co. Ltd. (Shanghai Blessford).
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In the report, the analyst notes:
"Gross profit in the second quarter was $3.6 million, up 5.3% from gross profit in the same period a year ago of $3.5 million. Gross margin was 13.5% compared to 19.6% in the second quarter of fiscal 2009. The decline in gross margin was mainly due to decrease in average selling prices, which was partially offset by decrease in average cost per unit sold period-on-period.
"CPSL began initial production runs at its new mill in January 2010 and is currently in the process of ramping up production capacity. The mill is expected to reach its full design capacity of 100,000 tons in approximately four years, increasing the Company's total production design capacity by 33%. CPSL expects to incur an additional $900,000 in capital expenditure for the completion of the new mill and annealing furnaces."
To read the entire report visit: http://www.beaconequity.com/i/CPSL
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