Chindex Press Room
INDUSTRIAL EXCHANGE, INC.
Bethesda, Maryland - August 14, 1996 - U.S. -China Industrial Exchange, Inc. (NASDAQ:CHDX, CHDXU), a leading American company in market representation, sales and consulting services for Western business in China since 1981, today announced its results for the second quarter and six months ended June 30, 1996. For the second quarter the company reported a net profit of $918,000 or $0.27 per share compared with a net loss of ($578,000) or ($0.17) per share in the second quarter of 1995. For the six month period in 1995, the Company reported a net loss of ($790,000) or ($0.23) per share. The Company attributes the significant improvement in performance to the timing of sales and Ex-Im Bank funded sales recorded in the second quarter.
Total revenue for the quarter, comprised of net sales plus net commission income, increased 384.0% to $9,056,000 as compared to the same period in 1995. For the six month period, total revenue increased 158.4% to $12,882,000 compared to the same period in 1995.