Net Sales Increase 28.3% to $10.2 Million with Gross Margins of 36.6%; Net
Income Increases 13.7% to $1.9 Million
SHANGHAI, China, June 19 /Xinhua-PRNewswire-FirstCall/ -- Aamaxan
Transport Group, Inc. (the "Company" or "ATG") (OTC Bulletin Board: AAXT),
through its subsidiaries, including Shanghai Medical Technology Co., Ltd.
("Shanghai Medical"), a PRC company and a leading provider of Hemodialysis
equipment ("HDE") and other related supplies and services, including
disposable and diagnostic products, throughout Eastern China, reported its
un- audited financial results for the first quarter of 2008 which ended
March 31, 2008.
First Quarter 2008 Results
Q1 2008 Q1 2007 vs. Q1 2007
Revenue $10.2 million $7.9 million +28.3%
Gross Profit $3.7 million $3.0 million +21.6%
Net Income $1.9 million $1.7 million +13.7%
EPS (Fully Diluted) $0.13 $0.12 +8.3%
Recent Company Highlights
-- In 2007, Shanghai Medical distributed approximately 25% of the HD
products and supplies in the PRC and is one of the largest single
distributors of HD equipment and supplies in the PRC.
-- In April 2008, the Company completed a private placement with
institutional and accredited investors which resulted in gross
proceeds to the Company of approximately $12.5 million.
-- Shanghai Medical utilizes over 20 distributors to reach Eastern
China and has strategically partnered with the largest global
provider of blood dialysis and diagnostic equipment, to ensure that
it meets the growing demand for Chinese dialysis products.
First Quarter of 2008 Results (Unaudited):
Net revenues for the first quarter of 2008 increased 28.3% to $10.2
million compared to $7.9 million
|SOURCE HC International, Inc.|
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