GANSU, China, May 18 /PRNewswire-Asia-FirstCall/ -- China Dasheng Biotechnology Company ("China Dasheng" or "the Company") (OTC Bulletin Board: CDBT), a leading producer and distributor of organic bacteria based additives for crops and livestock feeds in the PRC, announced unaudited financial results for the third quarter of fiscal year 2009, which ended March 31, 2009.
Highlights for Q3 FY2009 (all figures in US$) included: -- Total revenue grew approximately 43% to $5.3 million in the third quarter of 2009, compared with $3.7 million in the prior year quarter; -- Gross margin improved by 50% to $2.6 million in the third quarter of 2009, compared with $1.8 million in the prior year quarter; -- Operating expenses, as a percentage of revenue, were reduced by over 900 basis points to 20.2% in the third quarter of 2009, compared to 29.9% in the prior year quarter; -- Income from operations increased by 140% to $1.6 million in the third quarter of 2009, compared to $0.7 million in the prior year quarter; -- Net income rose over 200% to $1.3 million in the third quarter of 2009, or $0.04 per diluted share, compared with $0.4 million, or $0.01 per share in the prior year quarter; -- $10.4 million of cash on the balance sheet as of the quarter end, March 31, 2009.
Chairman of the Board, Mr. Jinjun Qi commented, "China Dasheng reported another successful quarter, demonstrating the power and continued strength of our core business offerings. There is a growing demand in China at both the national and local level for "going Green" agriculture and the Company is uniquely position to capitalize on this trend with our proprietary products and leading market position.
During the third quarter we posted solid year-over-year revenue growth all
while continuing to deliver sustained and growing cash flows, enabling us
|SOURCE China Dasheng Biotechnology Company|
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