China Linen Textile Industry, Ltd. Reports First Quarter 2011 Results
China Linen Textile Industry, Ltd. (OTC Bulletin Board: CTXIF) ("China Linen" or the "Company"), one of China's leading linen fabric and linen yarn producers and exporters, today announced financial results for the first quarter ended March 31, 2011.
Q1 2011 revenues increased 79% to $15.8 million.
Q1 2011 gross profit increased 109% to $5.7 million, gross margin up 507 basis points to 36.0%
Q1 2011 net income increased 50% to $3.2 million; diluted EPS of $0.46 vs. $0.36 a year ago.
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