Last $0.87 USD
Change Today -0.02 / -2.25%
Volume 2.7K
As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

ossen innovation co-spon adr (OSN) Snapshot

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52 Week High
10/21/13 - $1.79
52 Week Low
09/24/13 - $0.60
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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 Receives NASDAQ Notification Of Non-Compliance With Minimum Bid Price Rule

Ossen Innovation Co., Ltd. announced that on August 12, 2014 the Company received a letter from the NASDAQ Stock Market stating that for the previous 30 consecutive business days, the closing bid price of the Company's stock was below the minimum bid price of $1.00 per share for continued listing on the NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 5550(a)(2). The NASDAQ letter has no immediate effect on the listing of the Company's shares. In accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), the Company has been provided with a period of 180 calendar days, or until February 9, 2015, to regain compliance with the Minimum Bid Price Rule. If at any time during this 180-day period the closing bid price of the Company's American Depositary Shares is at least $1.00 for a minimum of ten consecutive days, NASDAQ will provide written confirmation of compliance and matter will be closed. The Company intends to evaluate available options to resolve the deficiency and regain compliance with the Minimum Bid Price Rule.

Ossen Innovation Co., Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Ossen Innovation Co., Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues of $28,036,908 against $14,592,753 a year ago. Income from operations was $1,196,023 against $1,045,234 a year ago. Income before income tax was $663,553 against $185,452 a year ago. Net income was $528,281 against $100,182 a year ago. Earnings per basic and diluted share were $0.02 against $0.004 a year ago. Net cash used in operating activities was $1,133,502 against net cash provided by operating activities of $9,087,176 a year ago. Purchases of plant and equipment were $1,150 against $12,671 a year ago. The overall increase in revenue was primarily due to increased demand because of the company's ability to use lower grade raw material for rare earth coated steel products, enabling the company to compete on price, as well as the addition of several new customers. The primary reasons for the cash outflows from operations were an increase in inventories and advances to suppliers, partially offset by an increase in net income and a decrease in accounts receivable.

Ossen Innovation Co., Ltd. to Report Q1, 2014 Results on Jun 27, 2014

Ossen Innovation Co., Ltd. announced that they will report Q1, 2014 results at 5:00 PM, China Standard Time on Jun 27, 2014


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