XI'AN, China, March 31 /Xinhua-PRNewswire-FirstCall/ -- Huifeng Bio- Pharmaceutical Technology, Inc. (OTC Bulletin Board: HFGB), a developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, is pleased to announce its audited financial results for the year ended December 31, 2007.
Full Year 2007 Highlights:
The following is a summary of our financial results for the full year
ended Dec. 31, 2007.
12 Months Ended 12 Months Ended Growth
In US Dollars December 31,2007 December 31,2006 %
Net Revenue $6,571,531 $3,076,779 114%
Gross Profit $1,977,313 $457,518 332%
Gross Profit Margin 30% 15%
Net Income $1,283,683 $131,736 874%
Net Income Margin 20% 4%
Earnings Per Share $0.07 $0.01 600%
Huifeng achieved outstanding growth during 2007, with sales more than doubling and net income increasing by over 800%. "Huifeng achieved a number of significant milestones in 2007. We have increased our product offering and achieved significant sales in both Rutin and Diosmin," states company CEO Jing'An Wang. Furthermore, in late 2007, Huifeng signed the largest supply agreement in company history and completed a $2 million fundraising.
"Huifeng expects to continue achieving significant gains in both sales
and net income in 2008 through organic growth of our current products,"
forecasted Mr. Wang. The company restructured its production lines in the
fourth quarter to accommodate the increased production levels of Diosmin
necessitated under its current contract with Safic-Alcan of France. Huifeng
also hopes to close a strategic acquisition in 2008 under its sta
|SOURCE Huifeng Bio-Pharmaceutical Technology, Inc.|
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