Navigation Links
Huifeng Bio-Pharmaceutical Provides Preliminary 2009 Financial Results and 2010 Guidance
Date:2/4/2010

XI'AN, China, Feb. 4 /PRNewswire-Asia-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, today announced preliminary 2009 results and provided guidance for 2010.

Huifeng Bio-Pharmaceutical Technology anticipates revenues between $13 million to $14 million for the full year ended December 31, 2009. This represents a year-over-year revenue growth of 27% to 35%. Preliminary 2009 net income is anticipated to be between $2.8 million to $3.0 million for the year, representing 80% to 93% year-over-year growth. "The increase was attributed to the increase in the company's sales of pharmaceutical raw-material and Plant Extractive, and other products, including Rutin, Quercetin, injectable Troxerutin and Diosmin," said the company's CEO Jing'An Wang. "The increase in revenue reflected both a gain in new customers, as well as an increase in the number of orders from our existing customers."

2010 Guidance

Management is providing revenue guidance of $20 million to $25 million and net income guidance between $4.5 million to $5.0 million for 2010. Growth is expected to be driven by increasing sales of current products. Because of the EU COS for Diosmin, the company has a high level diosmin quality. Certain European customers will be interested in Huifeng's diosmin and will increase their purchasing quantity from the company. The company will begin to perform the contract with Safic-Alan for diosmin. Another driver is production line expansion and acquisition which will increase the production quantity of diosmin. This will meet the big quantity requirement of new orders.

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 in Xi'an China. 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. Additional information is available at the Company's website: http://www.hfgb.cn/

Safe Harbor Statement

This press release may contain forward-looking statements. These statements are based on the current expectations or beliefs of the Company's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements, including but not limited to the fluctuation of prices of raw materials, the market demand for our products, changes in governmental regulations and/or economic policies and our ability to penetrate new markets.

    For further information, please contact:
     Investor Relations Network
     Tom Gavin
     Tel:   +1-951-845-1112
     Email  irnetwork@earthlink.net

SOURCE Huifeng Bio-Pharmaceutical Technology, Inc.

RELATED LINKS
http://www.hfgb.cn

'/>"/>

SOURCE Huifeng Bio-Pharmaceutical Technology, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. Huifeng Bio-Pharmaceutical (HFGB) Announces Participation in the 59th PHARMCHINA Expo
2. Huifeng Bio-Pharmaceutical (HFGB) Reports Record Sales and Net Income
3. Skystar Bio-Pharmaceutical Announces Upcoming Interview With WallSt.net ( www.wallst.net )
4. Study provides hope that some transplant patients could live free of antirejection drugs
5. Study provides hope that some transplant patients could live free of anti-rejection drugs
6. USAID Provides Additional Wildfire Assistance to Greece
7. LifeMasters Provides Tips for Maintaining a Healthy Blood Cholesterol Level
8. New knock-out gene model provides molecular clues to breast cancer
9. PreMD Provides Update on 510(k) Application for PREVU(x) POC
10. SIV infection of natural hosts provides new insights into HIV disease complexity
11. Microarray provides 3 genomic guides to breast cancer treatment decisions
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/31/2016)... London, Ontario (PRWEB) , ... May 31, 2016 , ... ... more than 2,000 clients already know – London is home to Ontario’s leading day ... and direction of visionary Fayez Tamba began with a unique concept to combine spa ...
(Date:5/31/2016)... ... , ... In his latest video, renowned AstroNumerologist Jesse Kalsi ... presidential candidate Donald Trump as an example, Kalsi describes the way AstroNumerology conveys ... adding numbers up,” says Kalsi. “It is about looking at each individual number, ...
(Date:5/31/2016)... , ... May 31, 2016 , ... Interest is on ... screening tool and as an orthogonal tool for RNAi hit validation. A key reason ... specific guide RNAs—allows rapid generation of CRISPR RNA (crRNA) collections in arrayed formats. ...
(Date:5/31/2016)... ... ... In a recent interview on The Greenburgh Report radio show hosted by Greenburgh, NY ... AM), leading medical insurance advocate Adria Goldman Gross discussed several eye-opening issues that have ... During the interview with Mr. Feiner that aired on May 7, 2016, Ms. Gross, ...
(Date:5/31/2016)... Chicago, IL (PRWEB) , ... May 31, 2016 ... ... industry-leading multichannel marketing services firm and statement solutions provider, for the ... released in the May 2016 issue of Advertising Age, and SourceLink ranked eighteenth ...
Breaking Medicine News(10 mins):
(Date:5/31/2016)...   Plexus Technology Group, LLC (Plexus ... systems (AIMS), is pleased to announce the addition ... of Technology. In this new capacity, Mr. Marcey ... company,s technological development. He will collaborate with each ... expansion of new products, product features and enhancements.  ...
(Date:5/31/2016)... York , May 31, 2016 ... essential ingredient in food, cosmetics and pharmaceuticals, with global ... revenues worth US$ 1.6 Bn. Demand for ... products, juices, and yogurts will continue its upward momentum ... trend will also boost positive sentiment on aloe vera, ...
(Date:5/31/2016)... Israel , May 31, 2016 ... its proprietary plant-based rhCollagen technology for tissue repair products ... Chief Scientist of Israel,s Ministry ... 12 million development project for 2016. The Chief Scientist,s grant ... year,s authorized grant, which totaled NIS 4.7 million.  ...
Breaking Medicine Technology: