Puda Coal, Inc. (AMEX:PUDA), a consolidator of coal mines in China, as well as producer of clean metallurgical coal, has filed a registration with the U.S. Securities and Exchange Commission Tuesday in order to be able to sell any combination of Common Stock, Preferred Stock, Warrants and Units for up to $90 million.
Earnings for Puda in the last quarter were $0.36 a share, while the street was looking for $0.24 a share. Revenue came in at $82 million.
Sales of clean coal in the quarter rose to 601,000 metric tons, a 36.5 percent gain over last year in the same quarter. The average selling price of the coal increased to $137 a metric ton, up 25.7 percent over last year.
Gross margins almost doubled for 7.5 percent last year to 14.7 percent this year.
Profits grew to $12.1 million, soaring 235.2 percent.
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