Aug. 16, 2011, 7:24 a.m. EDT

Gulf Resources, Inc.(RCode:GURE),a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced its financial results for the three and six months ended June 30, 2011.

Second Quarter 2011 Highlights

Revenue was $51.3 million, an increase of 10% comparing to the corresponding period last year

Gross profit was $26.3 million, an increase of 13% comparing to the corresponding period last year

Income from operations was $13.0 million, a decrease of 41% comparing to the corresponding period last year

Net income was $10.0 million, or $0.29 per basic and diluted share, compared with $16.4 million, or $0.47 per basic and diluted share a year ago

Excluding non-cash impairment/write-off expenses, adjusted net income was $17.6 million, or $0.51 per basic and diluted share

Cash totaled $59.7 million as of June 30, 2011

In June 2011, the Company changed the trading symbol of its common stock on the Nasdaq Global Select Market to "GURE" effective at the open of the market on June 30, 2011.

In June 2011, the Company announced that its subsidiary Shouguang City Haoyuan Chemical Ltd. Co. ("SCHC") had signed a non-binding Letter of Intent with the People's Government of Daying County in Sichuan Province to explore and develop potential underground brine water resources.

On June 22, 2011, the Company hosted its Annual Meeting of Stockholders.

In June 2011, the Company announced that SCHC, ChemNet and local government agencies successfully hosted the Third China Bromine Industry Summit "Haoyuan Cup" in Daying County, Suining City, Sichuan Province, China on June 16 - 18, 2011.

Source:Gulf Resources, Inc.