FUSHI COPPERWELD (NASDAQ:FSIN)

BEIJING, November 8, 2011 /PRNewswire-Asia-FirstCall/ -- Fushi Copperweld, Inc. (Nasdaq: FSIN), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today issued new financial tables that correct certain administrative errors in the tables released with the Company's earnings announcement for the third quarter of 2011 issued on November 3, 2011.

For the 2011 third quarter and nine-month periods, all financial figures are correct. However, there are errors which primarily relate to the labeling of certain line items in the Company's balance sheet and income statement, which were included in the November 3, 2011 earnings release. For the 2010 prior-year periods, there are also corrections to certain financial figures in the financial statement tables, which are set forth below:

• Diluted earnings per share for the 2010 nine-month period was $0.93, not $0.94; and
• End of period cash as of September 30, 2010 was $117.9 million, not $73.8 million as listed on November 3, 2011
• Gain on cross-currency interest swap derivative for the 2010 nine-month period was $128,861, not a loss of $753,666 as listed on November 3, 2011. The difference reflects the exclusion of a change in derivative liability -- conversion option of $882,527, which was included incorrectly.