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Nutrastar International Inc. Announces Record Second Quarter 2010 Results
Date:8/16/2010

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Nutrastar International Inc. Announces Record Second Quarter 2010 Results

 

HARBIN, China, Aug. 16 /PRNewswire-Asia/ -- Nutrastar International Inc. (OTC Bulletin Board: NUIN; "Nutrastar" or the "Company"), a leading nutraceutical company which produces and distributes Chinese Golden Grass ("Cordyceps Militaris") and other specialty food products, today announced financial results for their three and six months ended June 30, 2010.

Financial Highlights for the Three Months Ended June 30, 2010: -- Revenues increase 63.4%; -- Gross margin increases 19.1% to 83.7% -- EPS reaches $0.12

Three Months Ended June 30, 2010

Revenues reached $5.46 million, an increase of approximately $2.12 million, or 63.4% from the same period in 2009. The increase was mainly attributable to the increase in sales of the company's core product, Chinese Golden Grass, as well as an increase in selling prices for their packaged Chinese Golden Grass products.

Gross profit was $4.57 million, an increase of approximately $2.41 million, or 112.0% as compared to the same period in 2009. Gross margin was 83.7%, an increase of 19.1% from 64.6% during the same period in 2009. The increase in gross margin was mainly due to continued product mix shift towards Chinese Golden Grass and increased sales of their higher margin small package Chinese Golden Grass products.

Operating income was approximately $3.79 million, an increase of $2.07 million, or up 120.3% from the comparable period of 2009. Operating margin was 69.4% for the second quarter 2010, an increase of 17.9% from 51.5% during the comparable 2009 period.

Net income was $3.42 million, an increase of $1.92 million, or 127.7% from the same period of 2009. Basic and diluted earnings per share for both quarters
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SOURCE Nutrastar International Inc.
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