Orient Paper Q3 Net Income Decreases

(RTTNews) - Orient Paper, Inc. (ONP), a leading manufacturer and distributor of diversified paper products in North China, reported third-quarter net income of $1.7 million or $0.08 per share compared to $3.4 million or $0.18 per share, last year. Revenue decreased to $32.4 million from $40.8 million, a year ago.

The company noted that its third quarter results largely reflected the negative impact of the temporary production suspension from August 20 to September 4, 2015 mandated by the Baoding City government in connection with the International Association of Athletics Federations World Championship Games.

Orient Paper said its production has resumed on September 5, 2015, and the company expects to operate consistent with ordinary course of business in the fourth quarter.