Revenue Increases 34% Driving Record Profitability
HARBIN, China, Aug. 15 /Xinhua-PRNewswire-FirstCall/ -- China Kangtai Cactus Biotech Inc. (the "Company") (OTC Bulletin Board: CKGT), a vertically integrated grower, developer, manufacturer and marketer of a variety of cactus-based consumer products in China, announced today record second quarter results for the period ended June 30, 2008. The Company reported revenue of $5.0 million, a 34.9% increase compared to $3.7 million in the 2007 second quarter. The increase in revenue was a result of growing acceptance of the Company's products such as Cactus Protein Nutrient, Cactus Calcium Peptide Soft Capsule and Cactus Shuxin Capsule by Chinese customers and expanded distribution.
Gross profit for the three months period ended June 30, 2008 was $1.5 million, an increase of 12.3% compared to $1.4 million for the same period last year. This increase was mainly attributable to the increase in net sales. For the three months ended June 30, 2008, pre-tax income increased by 10.2%, to $1.2 million from $1.1 million in the corresponding period of the prior year. Net income available to common stockholders increased to $1.0 million, or $0.06 per diluted share, compared to $0.9 million, or $0.05 per diluted share in the previous year's second quarter.
For the six months ended June 30, 2008, revenue increased 27.7% to $ 7.8 million, compared to $6.1 million in the corresponding period of the prior year. Pre-tax income increased 13.8% to $1.9 million for the 2008 first six months, compared to $1.7 million in the six months ended June 30, 2007. Net income increased to $1.6 million, compared to $1.4 million in the 2007 period ended June 30, 2007.
"Our second quarter results reflect the growing acceptance of our
existing cactus products," said Jinjiang Wang, President of China Kangtai
Cactus. "As we increase our marketing activities to support the recent
launch of many of our exciting new p
|SOURCE China Kangtai Cactus Biotech Inc.|
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