Toronto-Hanfeng Evergreen Inc. reported net earnings of $3.2 million ($.07 per diluted share) on sales of $24.2 million for the first quarter ending March 31, 2007, compared to the year-ago $532,000 ($.01 per share) and $2.1 million, respectively. The huge increase in sales is due to three new plants (Heilongjiang NPK, Jiangsu SCU, and Jiangsu Prill NPK), that came online in the 2006 and 2007. Actual production from all facilities was 77,000 mt during the quarter; however, actual annual capacity stood at 400,000 mt at the end of the quarter.
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