Lihua International reports 4Q and full-year 2009 financial results.

Lihua International Inc (Lihua) announced financial results for 4Q and year ended Dec 2009. Full-year 2009 sales increased 223% to $161.5 M. Net income improved 43% to $16.8 M, or $0.88/diluted share for 2009 (net income of $11.7 M, or $0.7/share in 2008). Adjusted EBITDA increased 118.3% to $33 M for 2009. Sales for 4Q 2009 increased 367% to $51.3 M ($11 M in 4Q 2008). The increase in sales was driven by strong market demand for Lihua's CCA and copper wire products, an increase in the average selling price of copper wire and copper rod products based on an increase in the average price of copper, an increase in production capacity and the addition of Lihua's copper recycling business, …