TTCM China Announces Full Year 2006 Results

TIANJIN, China--(BUSINESS WIRE)--TTCM China, Inc. (Pink Sheets:TTCH), a leading producer and supplier of glass-reinforced fiber plastic pipes, today announced 2006 earnings results.

Revenue for the year ending December 31, 2006 was $7.5 million versus revenue of $6.9 million for the year ending December 31, 2005. Net profit after taxes for full year 2006 was $134,549 versus net profit of $578,598 in 2005.

Despite strong demands for the company’s products as evidenced by a growing backlog, the Company’s revenue growth in 2006 was approximately 10% primarily due to a working capital shortage. TTCM China is currently trying to negotiate with several parties to obtain new lines of equity. If and when the cash infusion is completed, TTCH China expects to begin filling the outstanding orders.

Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, “We are pleased by the demand for TTCM China’s products and are focused on fulfilling orders in 2007 and beyond. We are currently looking into several financing options to enable us to realize the revenue in 2007.”

600450 TTCM China Announces Full Year 2006 Results glassonweb.com
Date: 5 April 2007
Source: Businesswire.com

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