Total cost of sales increased by $2 million, or 7.4%, to $29.1 million for the 4Q 2015, from $27.1 million for the same period of the last year.
Net income was $2.2 million, or $0.11 per basic and diluted share, for the 4Q 2015, which remained unchanged from the same period of last year.
EBITDA increased by $1.1 million, or 16.5%, to $7.1 million for the 4Q 2015, from $6 million for the same period of last year.
For the FY 2015, total revenue decreased by $1.7 million, or 1.3%, to $135.3 million, from $137 million for the fiscal year of 2014. The decrease in total revenue was primarily due to a decrease in sales of regular CMP, digital photo paper and offset printing paper, which were partially offset by increase in sales of light-weight CMP and contribution from the sales of the tissue paper products.
Net income decreased by $0.2 million, or 1.4%, to $11.5 million for the year ended December 31, 2015, from $11.7 million for the year ended December 31, 2014.
FY 2015 EBITDA increased by $6.3 million, or 24.5%, to $32.2 million from $25.7 million for the year ended December 31, 2014.
Mr. Zhenyong Liu, Chairman and CEO of Orient Paper, commented, "The rate of economic growth in China has continued to slow down. Additionally, in the 4Q, we had to suspend our production from December 14 to December 29, 2015, to comply with an anti-smog governmental mandate. Despite these difficulties, we grew our gross profit by 22.3% for the year ended December 31, 2015. Our sales volumes for light-weight CMP were up 55.6% in 2015. Also, our newly launched tissue paper packaging business generated $1.7 million in sales for the year ended December 31, 2015."
Orient Paper, Inc. is a leading paper manufacturer in North China.
