GULF RESOURCES AND CHEMICAL CORP &lt;GRE> 4TH QTR

  Oper shr profit 34 cts vs loss 53 cts
      Oper net profit 3,337,000 vs 4,881,000
      Revs 32.7 mln vs 49.6 mln
      Year
      Oper shr profit 20 cts vs loss 90 cts
      Oper net profit 2,374,000 vs loss 9,381,000
      Revs 126.9 mln vs 160.5 mln
      NOTES: Operating net excludes loss 6,050,000 dlrs, or 64
  cts a share, vs loss 24,839,000 dlrs, or 2.61 dlrs a share, in
  quarter and loss 6,050,000 dlrs, or 64 cts a share, vs profit
  64,013,000 dlrs, or 6.27 dlrs a share, from discontinued
  operations
      1986 loss from discontinued operations includes 6.0 mln
  dlrs charge, equal to 64 cts a share, to provide for additional
  liabilities resulting from the 1981 closure of lead, zinc and
  silver mining, smelting and refining business
      1986 year operating net includes pre-tax gain of 5.3 mln
  dlrs, equal to 56 cts a share, from pension plan termination
  and gain of 5.2 mln dlrs, or 56 cts a share, from reduction in
  deferred taxes
      Effective Jan 1, 1987, company changed oil and gas
  accounting to successful efforts from full cost, increasing
  1986 year net 9.2 mln dlrs, or 98 cts a share, and increasing
  1985 loss 4.3 mln dlrs, or 43 cts a share. The cumulative
  effect of the change was to decrease retained earnings at Dec
  31, 1986, by 14.0 mln dlrs
  

