Ossen Innovation FY20 Profit Flat, Revenues Edge Down - Quick Facts

(RTTNews) - Ossen Innovation Co., Ltd. (OSN), a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, reported that net income attributable to Ossen for the full-year 2020 remained flat at $11.1 million or $0.56 per share. Earnings per ADS were also flat at $1.68.

Revenues for the quarter edged down 0.2 percent to $138.6 million from $138.9 million for the same period of last year, due to the decrease in sales of rare earth coated PC wires and PC strands, plain surface products and other products, partially offset by the increase in zinc coated PC wires and PC strands.