Rodobo International, Inc. Files Fiscal Year 2008 SEC...( HARBIN China Jan. 13 Asia-FirstCa...),Health

HARBIN, China, Jan. 13 /PRNewswire-Asia-FirstCall/ -- Rodobo International, Inc. (OTC Bulletin Board: RDBO) filed its Annual Report on Form 10-K for its fiscal year ended September 30, 2008 today. Key highlights from the financial results of the fiscal year ended September 30, 2008 include:

    -- Revenue increased 72.7% year over year to $22.1 million from
       $12.8 million in fiscal year 2007.
    -- Gross profit increased 67.7% year over year to $10.4 million from
       $6.2 million in fiscal year 2007.
    -- Net income increased 111.5% year over year to $5.5 million from
       $2.6 million in fiscal year 2007; comprehensive income increased
       129.6% year over year to $6.2 million from $2.7 million in fiscal
       year 2007.

Mr. Yanbin Wang, Chief Executive Officer of Rodobo International, stated, "We are happy to report strong 2008 results with our shareholders today. We posted strong top line growth of 72.7% as well as healthy gross profit and net income growth, which indicated our further market penetration and increased popularity of our products among customers. We have not been implicated in the recent melamine contamination problems. We will continue to leverage our superior quality control and further strengthen our market position as consumers seek out quality products in the wake of the recent wide-spread melamine contamination scandal."

Revenue for the fiscal year ended September 30, 2008 was primarily attributable to a 23.0% increase in average selling price and sales volume growth driven by the Company's continuous efforts on developing a distribution network and enhancing the ability to expand the customer base.

Due to increased material costs and labor costs, the cost of goods sold increased by 77.3%, greater than the 72.7% increase in sales. Therefore, the overall gross margin slightly decreased from 48.4% in 2007 to 47.1% in 2008.

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