For fiscal year 2011, the company expects revenues of USD 186-206 million, gross profit of USD 36-40 million, net income of USD 24-27 million, and basic and diluted earnings per share of USD 1.33-1.46.  

As previously announced, for the fourth quarter of 2010, the company expects revenues of approximately USD 33 million and adjusted net income of at least USD 5 million, which excludes certain legal and other professional expenses that are expected to be nonrecurring.        

The company's new 360,000 tons per annum corrugating medium paper production line is expected to begin production in the first quarter of 2011. For fiscal year 2011, the company expects corrugating medium paper production of 260,000-288,000 tons, of which up to 168,000 tons is expected to be contributed by the new production line; medium grade offset printing paper production of 104,000-110,000 tons; and digital photo paper production of 2300-2500 tons.  The company expects that by the end of 2011, the monthly production of the new 360,000 tons per annum corrugating medium paper production line will be ramped up to approximately 20,000 tons, representing an approximate 67% annualized use rate.  

"As 2010 comes to a close and we look to fiscal year 2011, we expect our growth to be driven by the launch of our new 360,000 tons per year corrugating medium paper production line in the first quarter of next year, the continued production ramp-up of our digital photo paper line, and strong average selling prices as a result of growing market demand for paper products in China and tightening supply conditions resulting from government-mandated closures of regional paper mills," said Zhenyong Liu, chairman and chief executive officer of Orient Paper. "Overall, we are optimistic about our business prospects and look forward to capitalizing on the attractive growth opportunities in our market."

Orient Paper, Inc., through its wholly owned subsidiary, Shengde Holdings, Inc., controls and operates Baoding Shengde Paper Co., Ltd., and Hebei Baoding Orient Paper Milling Co., Ltd (HBOP). Founded in 1996, HBOP is engaged in the production and distribution of products such as corrugating medium paper, offset printing paper, and other paper and packaging-related products in China. The company uses recycled paper as its primary raw material. Baoding Shengde, founded in June 2009 and located in Baoding, is engaged in the production and distribution of digital photo paper. As one of the largest paper producers in Hebei Province, China, HBOP is strategically located in Baoding, a city in close proximity to Beijing where the majority of publishing houses are based. For more information, visit http://www.orientpaperinc.com.