Sutor Technology Group Limited (SUTR) Reports 10% Increase in Q4 Net Income

Sutor Technology Group Limited (SUTR), a manufacturer of steel finishing fabrication products and hot-dip galvanized steel in China, reported fourth quarter 2008 financial results last night. Revenues rose 14.5% year-over-year to $105.5 million. Net income rose 9.8% to $10.4 million, or 26 cents per diluted share, compared to $9.1 million, or 25 cents per share for the same period last year. One analyst surveyed anticipated earnings of 21 cents per share on revenues of $110.0 million.