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ossen innovation co-spon adr (OSN) Snapshot

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09/29/14 - $1.55
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01/20/15 - $0.62
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ossen innovation co-spon adr (OSN) Details

Ossen Innovation Co., Ltd. manufactures and sells various plain surface prestressed steel materials, and rare earth coated and zinc coated prestressed steel materials in the People’s Republic of China. The company provides plain surface products, including plain surface prestressed concrete (PC) strands that are used as precast concrete plates on the riding surface of bridges; Unbonded plain surface PC strands for the construction of bridges and buildings. It also offers plain surface PC wires and indented PC wires used in the construction of buildings; and helical rib PC wires for the construction of railway ties or sleepers, and buildings, as well as offers coated prestressed products comprising zinc coated PC products and rare earth coated PC products. The company markets its products under the brand name of Ossen. It also exports its products to the United States, Canada, Spain, South Korea, Taiwan, Australia, South Africa and Saudi Arabia, and others. The company is based in Shanghai, the People’s Republic of China.

209 Employees
Last Reported Date: 04/29/14

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ossen innovation co-spon adr (OSN) Key Developments

Ossen Innovation Co., Ltd. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Ossen Innovation Co., Ltd. announced consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income attributable to the company of USD 0.5 million, or USD 0.02 per diluted share. This was a 72% decline over net income attributable to the company of USD 1.7 million, or USD 0.08 per diluted share, in third quarter of the prior fiscal year. Revenues were USD 27.9 million, a 16% decline over USD 33.1 million over revenues in third quarter of fiscal 2013. Revenue fell 16% due to the weaknesses in Zinc coated products and plain surface pre-stressed strands sales. Income from operations was USD 856,782 against USD 2,871,404 a year ago. Income before taxes was USD 617,565 against USD 2,182,392 a year ago. For the nine months, the company posted revenue at USD 91.8 million, up 28% compared with USD 71.9 million in the same period in 2013, as sales of plain surface PC strands, Rare Earth and Zinc coated products all grew on a year-over-year basis. Income from operations was USD 4,183,236 against USD 5,644,400 a year ago. Income before taxes was USD 3,046,982 against USD 3,320,413 a year ago. Net income attributable to holders of the company was USD 2.4 against USD 2.5 a year ago. Earnings per basic and diluted share were USD 0.12 against USD 0.12 a year ago. Net cash provided by operating activities was USD 7,531,583 against USD 17,975,628 a year ago. A purchase of plant and equipment was USD 36,984 against USD 14,806 a year ago. Prepayment for plant and equipment was USD 7,807,417.

Ossen Innovation Co., Ltd. to Report Q3, 2014 Results on Dec 26, 2014

Ossen Innovation Co., Ltd. announced that they will report Q3, 2014 results at 5:00 PM, China Standard Time on Dec 26, 2014

Ossen Innovation Co., Ltd., Q3 2014 Earnings Call, Dec 29, 2014

Ossen Innovation Co., Ltd., Q3 2014 Earnings Call, Dec 29, 2014


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