Navigation Links
Rodobo International, Inc. Files Fiscal Year 2008 SEC Form 10-K
Date:1/13/2009

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.

Operating expenses for the fiscal year ended September 30, 2008 were $5.1 million, an increase of $1.5 million or 41.7% compared to the fiscal year ended September 30, 2007. However, operating expenses as a percentage of net sales dropped from 28.1% in 2007 to 23.1% in 2008. The increase in operating expenses was mainly due to an increase of $1.0 million in distributor rebates, as a result of sales growth and market expansion.

Net income from the operations was $5.5 million, or $3.80 per basic and diluted share, in the fiscal year ended September 30, 2008, up 111.5% from $2.6 million or $2.69 per basic and diluted share, in the fiscal year ended September 30, 2007. It was mainly attributable to the increase in sales, partially offset by increase in cost of goods sold and operating expenses. Comprehensive income was $6.2 million in the fiscal year ended September 30, 2008, up 129.6% from $2.7 million in the fiscal year ended September 30, 2007.

About Rodobo International, Inc.:

Through its wholly-owned operating subsidiary, Rodobo International, Inc. is a producer and distributor of high-quality formula milk powder products for infants, children, pregnant women, nursing mothers and other adults in the People's Republic of China. The Company's products are sold under brand name "Rodobo".

Safe Harbor Statement

This press release contains forward-looking statements. Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. Forward- looking statements include statements regarding our goals, beliefs, future growth strategies, objectives, plans or current expectations. For example, when we say that 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, we are using a forward looking statement. These forward-looking statements are based on the current expectations of the management of Rodobo only, 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. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: failure to obtain required regulatory approvals; risks associated with the effect of changing economic conditions in The People's Republic of China; variations in cash flow; reliance on collaborative partners and on new product development; variations in new product development; risks associated with rapid technological change and the potential of introduced or undetected flaws and defects in products; changes in technology and market requirements; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Rodobo to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Rodobo undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Rodobo, reference is made to Rodobo's reports filed from time to time with the Securities and Exchange Commission.

    For more information, please contact:

     Xiuzhen Qiao
     Tel:   +86-451-8226-5922
     Email: qiaozhen1973@163.com

'/>"/>
SOURCE Rodobo International, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Clarity Imaging International, Inc. Rolls Out Mobile DEXA Program
2. Arrow International, Inc. Invites You to Join Its 2007 Annual Meeting of Shareholders on the Web
3. Natural Alternatives International, Inc. Announces Late Filing of its Annual Report on Form 10-K, Revenue for Fiscal 2007 and Guidance on First Quarter of Fiscal 2008
4. Cryo-Cell International, Inc. Reports Third Quarter 2007 Results
5. TenderCare International, Inc. Announces Signing of Merger Agreement with the Hain Celestial Group for All Outstanding Shares of TenderCare Stock
6. Chindex International, Inc. Announces Results for the Quarter and Six Months Ended September 30, 2007
7. DATATRAK International, Inc. Announces 2007 Third Quarter and Nine Month Operating Results
8. Chindex International, Inc. Announces Transfer to NASDAQ Global Market
9. MINRAD International, Inc. Announces Appointment of Charles R. Trego, Jr. to CFO & EVP
10. Synutra International, Inc. Amends August 2005 Current Report on Form 8-K and Annual Report on Form 10-K for the Fiscal Year Ended March 31, 2007
11. Natural Alternatives International, Inc. Announces Second Quarter Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... TherapySites, the leading ... with Tennessee Counseling Association. This new relationship allows TherapySites to continue ... Association, adding exclusive benefits and promotional offers. , "TCA is extremely excited about ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star ... , Millions of individuals in the United States and Canada wear eyeglasses. Once considered ... both correct vision and make a fashion statement. Even celebrities use glasses as a ...
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ... , "Film editors can give their videos a whole new perspective by using the ... CEO of Pixel Film Studios. , ProSlice Levels contains over 30 Different presets ...
(Date:6/26/2016)... Michigan (PRWEB) , ... June 26, 2016 , ... ... to fertility once they have been diagnosed with endometriosis. These women need a ... they also require a comprehensive approach that can help for preservation of fertility ...
(Date:6/25/2016)... ... ... temporary closing of Bruton Memorial Library on June 21 due to a possible lice infestation, ... aspect of head lice: the parasite’s ability to live away from a human host, and ... necessary one in the event that lice have simply gotten out of control. , As ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... According to a new market ... Needles, Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, ... of Purchase (Retail, Non-Retail) - Trends & Global Forecasts ... market for the forecast period of 2016 to 2021. ... by 2021 from USD 1.65 Billion in 2016, growing ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Global Market - Forecast to 2022" report to their ... treatment method for the patients with kidney failure, it replaces ... fluid from the patient,s blood and thus the treatment helps ... and chloride in balance. Increasing number of ...
(Date:6/23/2016)... -- Research and Markets has announced the addition ... - Forecast to 2022" report to their offering. ... to date financial data derived from varied research sources to ... potential impact on the market during the next five years, ... of sub markets, regional and country level analysis. The report ...
Breaking Medicine Technology: