Nov 14, 2008. /Lesprom.com/. Orient Paper Inc., a growth driven paper milling manufacturer in China, announced its operating results for the 3Q and nine months ended September 30, 2008. Net revenue for the 3Q 2008 increased 76.63% to $18.3 million compared to $10.3 million for the 3Q 2007. For the nine months ended September 30, 2008, net revenues were $49.3 million an increase of 78.07% over the first nine months of 2007. Orient Paper had net income of $2.3 million for the 3Q, representing a 115% increase from $1.1 million for the prior-year period. For the nine months ended September 30, 2008, net income was $6.1 million representing an increase of 106.27% from net income of $2.94 million for the first nine months of 2007. Earnings per share increased to $0.14 per diluted share for the nine months ended September 30, 2008, compared to $0.07 per diluted share for the prior-year period. “We are pleased with our 3Q results. Our growth in revenue and the increase in our net income were the result of a number of factors, including the continuation of a strong seller’s market and higher sales volume associated with the Olympic Games in Beijing. The occasion of the Olympic Games in Beijing stimulated domestic demand significantly for our four core products: Corrugated Paper, High-Grade Offset Paper, Mid-Grade Offset Paper and Copy Paper. Additionally, we introduced new product lines in high-strength corrugated paper and writing paper which increased our sales and profits. The corrugated paper segment which contributed 40.7% of our business for the first nine months of 2008 experienced a 36.4% growth in revenue as compared to the first nine months of 2007," said Zhenyong Liu, CEO of Orient Paper. “We had already emphasized earlier that we have new permits that will enable us to gain additional market share in China. While our third quarter performance was strong, we believe we can continue to grow and significantly improve our Company’s bottom line results. Accelerated growth could be achieved by strengthening our operational foundation through efforts focused on issues such as internal cost control, improved logistics coordination, advanced technology import, new product development and an increase in the overall managerial efficiency of the Company. We are delighted about the progress our company has realized in the past and look forward to building upon that in each succeeding quarter. We will continue to monitor customer demand carefully and take decisive action to preserve and strengthen our core-competence to achieve our objectives for long-term growth in earnings and stockholder value.” Orient Paper engages in the production and distribution of copy paper, uncoated and coated paper, digital photo paper, corrugated paper, plastic paper, kraft paper, graphic design paper, counterfeit, thermal security paper and other paper and packaging-related products.