China Armco logs $824,181 loss in qtr.

Nov 30, 2009 | 01:15 PM | Paul Schaffer

China Armco Metals Inc., an ore trader that is building a shredder scrapyard in China with help from U.S. investors, posted an $824,181 net loss for the third quarter ended Sept. 30 on sales that rose 33.8 percent to $27.3 million.

In the year-earlier quarter, the company recorded net income of a little more than $1.5 million on sales of $20.4 million.

For the first nine months of the year, net income totaled $2.6 million, up from $3.9 million in the same period a year earlier, on sales that rose 27.9 percent to $55.4 million.....

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