Navigation Links
Huifeng Bio-Pharmaceutical (HFGB) Reports over $5 Million in Gross Sales; Record Results for the First Half of 2008
Date:8/14/2008

XI'AN, China, Aug. 14 /Xinhua-PRNewswire-FirstCall/ -- Huifeng Bio- Pharmaceutical Technology, Inc (OTC Bulletin Board: HFGB), a leading developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, is pleased to announce record sales and earnings for the three and six month periods ended June 30, 2008.

"In the first half of 2008, sales of our products increased substantially. Revenue received in the past six months total over $5 Million, thus representing an increase of 78 percent versus the same period in 2007," stated Jing' An Wang, CEO, Huifeng. "As such, our Gross Profit increased 88 percent to $1,839,127."

According to Mr. Wang, these figures represent record levels for HFGB. Mr. Wang further stated that Net Income was strong at four cents per share, despite being negatively impacted by expenses related to the company's recent financing activity.

"Our company continues to execute according to our strategic growth plan and there is no change to our earnings guidance of $4 million in net income for 2008," said Mr. Wang.

Gross margins for Huifeng remained strong at 34%, slightly higher than last year's 32%. Strength in the Company's main product lines of Rutin, Diosmin, and L-Rhamnose drove sales.

In Q2 2008 alone, total sales were in excess of $2.7 Million, thus representing a 10 percent sequential increase over the first quarter and a record for any quarter in company history.

Year to date, Huifeng has achieved many significant milestones:

-- Gross sales of over $5 Million; the most in any six month period of the

company's history;

-- Completed preparation for COS application and approval, including

reconfiguring of production lines and successful consultant review;

-- Boosting of Diosmin inventory ahead of deliveries to Safic-Alcan

anticipated to begin commencing in Q3 2008;

-- Significant new supplier agreement, including recently announced

contract with US-based DNP International.

"While we are certainly pleased with the 2008 year to date results, we are even more excited about the next six months," said Mr. Wang. "During the Q3 2008, Huifeng anticipates completing several key milestones including, achieving COS approval, making initial sales of Diosmin to Safic-Alcan under the stated sales agreement, as well as executing on our stated acquisition strategy."

"We are entering a very exciting phase of Huizenga's corporate development and are looking forward to demonstrating the strength of our quality platform and products throughout the remainder of FY 2008."

About Huifeng Bio-Pharmaceutical Technology, Inc. (HFGB)

Huifeng Bio-Pharmaceutical Technology, Inc., located in Xi'an, People's Republic of China, develops and produces plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production. It is the leading Chinese producer of rutin and related plant-derived chemicals in a class called flavonoids, with medicinal and other beneficial properties. Founded in 2002, Huifeng uses proprietary patented processes to extract rutin more efficiently than traditional extraction techniques. The Company is diversifying its product lines through internal development, acquisition and cooperation with scientific research organizations. http://www.hfgb.cn/

For more information, please contact:

Dan Carlson,

Primary Capital LLC

Email: DCarlson@PrimaryLLC.com

Kelly Black, CEO

Premier Media Services, Inc.

Tel: +1-480-649-8224


'/>"/>
SOURCE Huifeng Bio-Pharmaceutical Technology, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Huifeng Bio-Pharmaceutical (HFGB) Announces 2007 Full Year Results
2. Huifeng Bio-Pharmaceutical (HFGB) to Release First Quarter 2008 Earnings Results on May 15, 2008
3. Huifeng Bio-Pharmaceutical (HFGB) Announces No Earthquake Related Damage to Facilities
4. Huifeng Bio-Pharmaceutical (HFGB) Provides Update on Current Business and COS Certification
5. Huifeng Bio-Pharmaceutical (HFGB) Information to Be Available Through Standard & Poors Market Access Program
6. Huifeng Bio-pharmaceutical Technology Inc. Announces Strategic Alliance with Premier Media Service Inc.
7. Huifeng Bio-Pharmaceutical (HFGB) Provides Update on COS Application Status
8. Huifeng Bio-Pharmaceutical (HFGB) to Release Second Quarter 2008 Earnings Results on August 15, 2008
9. Huifeng Bio-Pharmaceutical (HFGB) Announces USD $1.1 Million Supply Agreement with DNP International Co. Inc.
10. Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results
11. Skystar Bio-Pharmaceutical Raises 2007 Revenue Guidance to $15.8 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... ... 18, 2017 , ... The American Medical Informatics Association (AMIA) ... Sharing Policy. Specifically, the nation’s leading informatics experts, said data sharing plans should ... AMIA recommended that NIH earmark funding for researchers to produce and execute data ...
(Date:1/19/2017)... Staten Island, NY (PRWEB) , ... January 19, 2017 , ... ... expand at an exponential rate. The tremendous growth is accounted to two main ... to the table and the expanding network of vendors supplying FireflySci products all around ...
(Date:1/19/2017)... 2017 The global biotechnology services outsourcing ... by 2025, according to a new report by ... adaptive of the function of outsourcing certain clinical ... the services outsourced, clinical trial management and contract ... Johnson was the first pharmaceutical company to outsource ...
(Date:1/19/2017)... , Jan. 18, 2017 Acupath Laboratories, Inc., ... the formation of an Executive Committee that will guide ... John Cucci , a 15-year veteran ... Director of Business Development to Chief Sales Officer ... Cucci served in senior sales leadership roles at several ...
Breaking Biology Technology:
(Date:12/22/2016)... VIEW, Calif. , Dec. 20, 2016  As part ... levels, 23andMe, the leading personal genetics company, recently released its ... Me . The book focuses on the topics of ... Next Generation Science Standards (NGSS) taught in elementary school classrooms ... second in a series by illustrator Ariana Killoran , ...
(Date:12/16/2016)... 16, 2016   IdentyTechSolutions America LLC , ... and solutions and a cutting-edge manufacturer of software ... is offering seamless, integrated solutions that comprise IDT ... The solutions provide IdentyTech,s customers with combined physical ... from crime and theft. "We are ...
(Date:12/15/2016)... ... and Markets has announced the addition of the "Global Military Biometrics ... forecasts the global military biometrics market to grow at a CAGR of ... prepared based on an in-depth market analysis with inputs from industry experts. ... coming years. The report also includes a discussion of the key vendors ...
Breaking Biology News(10 mins):