HARBIN, China, May 26 /PRNewswire-Asia-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 that they are preparing to significantly expand its shareholder and financial communication with the upcoming retention of an internationally-recognized investor relations firm. The Company has exhibited significant growth over the last year, despite the challenging broader economic environment, and understands the need to put in place an effective and professional investor relations program to communicate the Company's progress with current shareholders and the broader financial community.
Our recent growth has been exhibited through the following statistics: -- First quarter revenues expanded to USD$3.3 million from USD$2.8 million, representing quarter over quarter growth of approximately 18%; -- First quarter operating income grew to USD$880,530 from USD$721,695 representing quarter over quarter growth of approximately 22%; -- Closed on an acquisition to significantly expand our future production capabilities from both the equipment and the raw material standpoint; and -- As of March 31, 2009 the Company maintained a strong balance sheet that consisted of USD$2.35 million of cash and no long term debt.
"We are very pleased with our operating performance and the future expansion plans that are in motion. We believe that with our current position in the market and the current stabilization in the Chinese economy that our shareholders will significantly benefit from increased investor communication and expanded market exposure." said Jinjiang Wang, President of China Kangtai Cactus. "We look forward to implementing a market awareness program and communicating our message with our current and future shareholder base."
About China Kangtai Cactus Biotech, Inc.
China Kangtai Cactus Biotech 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 18 product patents and is seeking another 12 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 covered 12 provinces and 2 municipalities.
Cautionary Statement Regarding Forward-looking Information
This press release contains forward-looking information about China Kangtai Cactus Biotech 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 Biotech future performance, operations and products.
For more information, please contact: Chengzhi Wang General Manager China Kangtai Cactus Biotech, Inc. Tel: +86-158-0451-2893 Email: email@example.com Web: http://www.biocactus.com
|SOURCE China Kangtai Cactus Biotech Inc.|
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