Global packaging solutions supplier Shiner International has reported an 8.2% decline in total revenue for the second quarter of 2012 to $16.4m compared to $17.9m in the same period of 2011.
According to the company, the fall was mainly due to decreased revenues generated from coated film and color printing, which was partially offset by increase in revenues generated from biaxially-oriented polypropylene (BOPP) tobacco, advanced film and water-based latex.
The company’s gross profit for the quarter stood at $0.5m and the gross profit margin decreased to 3% compared to 14.1% of total revenue for the corresponding period in 2011.
Shiner reported net income of $(1.4)m for the quarter compared to $0.8m in the same period of 2011 and earnings per share were $(0.05), compared to earnings of $0.03 per share in 2011.
China-based Shiner International’s products include coated packaging film, shrink-wrap film, common packaging film, anti-counterfeit laser holographic film and color-printed packaging materials.