Navigation Links
China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
Date:8/19/2007

Net Sales Up 49%, Pre-Tax Net Income Up 42%

HARBIN, China, Aug. 16 /Xinhua-PRNewswire-FirstCall/ -- China Kangtai Cactus Biotech, Inc. (OTC Bulletin Board: CKGT), a vertically integrated grower, developer, manufacturer, and marketer of a variety of cactus-based consumer products, today filed its report on Form 10QSB and reported its unaudited results for the period ended June 30, 2007. All results reported are in U.S. dollars.

The Company has achieved an increase in net sales of almost 49% for the second quarter of 2007, as compared with the same quarter last year, i.e. from $2,496,104 in the 2nd quarter of 2006 to $3,715,314 in the 2nd quarter of 2007. At the same time, net income increased approximately 570%, from $(196,864) in the 2nd quarter of 2006 to $925,393 in the 2nd quarter of 2007.

The negative net income for the 2nd quarter of 2006 was due to a one-time expense in the amount of $982,700 related to payment of stock based compensation in June 2006. Excluding this extraordinary one-time expense, net income before income taxes for the 2nd quarter of 2006 would have been $785,836, as compared to net income before income taxes of $1,117,794 for the second quarter of 2007. Therefore, excluding the extraordinary one-time expense incurred in the second quarter of 2006, pre-tax net income for the 2nd quarter of 2007 increased by $331,958, or approximately 42%, as compared to the pre-tax net income for the same period of 2006.

Jinjiang Wang, Chief Executive Officer of China Kangtai Cactus Biotech commented, "The healthy and significant growth in our most recent quarterly results attributed to a growing demand for our high quality cactus-based consumer products throughout China, as well as our continuing efforts to expand our production and distribution to better meet the market demand."

Wang concluded, "Our company remains focused on creating more product categories and lines for distribution and is adopting a new distribution strategy to quickly and more efficiently penetrate new markets in China. With 15 product patents and 15 pending approval, China Kangtai is the dominant leader in the cactus-based consumer product sector in China."

About China Kangtai Cactus Bio-Tech, Inc.

China Kangtai Cactus Bio-Tech Inc. is market-leading cactus grower and producer of cactus-related products with over 387 acres of plants and an active R&D group that holds 15 product patents and is seeking another 15 in a variety of product categories. China Kangtai's high-quality products are sold throughout China in supermarkets, food stores, hotels, and restaurants through a growing distribution network that has currently covers 14 provinces and 4 municipalities.

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking information about China Kangtai Cactus Bio-tech that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Kangtai Cactus Bio-tech future performance, operations and products.

This forward-looking information should be considered only in connection with "Risk Factors" in China Kangtai Cactus Bio-tech's quarterly report on Form 10QSB filed with the SEC on August 15, 2007, and its other current and periodic reports filed with the SEC. China Kangtai Cactus Bio-tech assumes no obligations to update any forward-looking statements or information set forth in this press release.

Contact:

Ren Hu

Vice President

China Kangtai Cactus Bio-tech, Inc.

Arenhu@gmail.com

201-887-0415

RedChip Companies, Inc.

Investor Relations

Jon Cunningham

800-Red-Chip, ext. 107

Jon@RedChip.com

info@RedChip.com

http://www.RedChip.com


'/>"/>
SOURCE China Kangtai Cactus Biotech, Inc.

Copyright©2007 PR Newswire.

Related biology technology :

1. How do you level the playing field with China?
2. The state of global biotech: An Ernst & Young perspective
3. Olympics of biotechnology has international flavor
4. Biotech officials praise focus of new venture fund
5. Getting noticed in Genetown: Wisconsin biotech on display
6. Madison biotech NimbleGen files for IPO; one of states best-funded firms
7. Wisconsin biotech firm receives $107K NIH grant
8. Biotech executive books a career flight thats closer to home
9. Manufacturing partnership will move into biotech and biomedical spaces
10. Wisconsin wont get Georgia biotech without a fight
11. The 10 biggest events shaping biotech in 2006
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... Dec. 8, 2016  Soligenix, Inc. (OTCQB: SNGX) ... focused on developing and commercializing products to treat ... need, announced today the long-term follow-up data from ... a first-in-class Innate Defense Regulator (IDR), in the ... neck cancer patients undergoing chemoradiation therapy (CRT).  The ...
(Date:12/8/2016)... 2016 Savannah River Remediation LLC group ... NewTechBio,s NT-MAX Lake & Pond Sludge and ... in conjunction with Hexa Armor/ Rhombo cover manufactured ... Pollutant Discharge Elimination System requirements. The ... history of elevated pH levels, above 8.5, especially ...
(Date:12/8/2016)... , Dec. 8, 2016   Biocept, Inc ... commercial provider of clinically actionable liquid biopsy tests ... that clinical data featuring its Target Selector™ Circulating ... biopsy for the detection of actionable biomarkers in ... research sponsored by Sara Cannon Research Institute (SCRI), ...
(Date:12/7/2016)... ... December 07, 2016 , ... Huffman Engineering, ... become a Wonderware Certified System Integrator Partner. Huffman Engineering is the only ... , “The System Integrator Partner certification gives customers confidence that our engineers are ...
Breaking Biology Technology:
(Date:11/17/2016)... , Nov. 17, 2016 Global Market Watch: ... Biobanks (Disease-Based Banks, Population-Based Banks and Academics) market is to ... for Private Biobanks shows the highest Compounded Annual Growth Rate ... region during the analysis period 2014-2020. North ... of 9.95% followed by Europe at ...
(Date:11/16/2016)... , Nov. 16, 2016 Sensory ... experience and security for consumer electronics, and ... financial and retail industry, today announced a global ... convenient way to authenticate users of mobile banking ... TrulySecure™ software which requires no specialized ...
(Date:11/15/2016)... Research and Markets has announced the addition of the "Bioinformatics ... ... The global bioinformatics market is projected ... in 2016, growing at a CAGR of 21.1% during the forecast ... by the growing demand for nucleic acid and protein sequencing, increasing ...
Breaking Biology News(10 mins):