Vancouver-headquartered CY Oriental Holdings Ltd. (TSX-V:CYO) has completed its first shipment of branded apparel from its new manufacturing plant in Tengzhou, China.
The company, which also operates manufacturing plants in Shanghai, plans to expand its sales into Europe following the removal of European Union import quotas earlier this month.
In its third quarter ending September 30, 2007, the company reported revenue of $11.3 million compared with $11 million in the same period a year earlier.
Increasing costs, however, led to a quarterly net loss of $677,403 compared with a net profit of $1.7 million in 2006's third quarter.
CY Oriental's share price range during the past week: between $0.78 and $0.83; 52-week high: $1.95; 52-week low: $0.61.