SICHUAN, China, May 29, 2012 /PRNewswire-Asia/ -- China Health Resource, Inc. (OTCBB: CHRI), today announced results of earnings for the year ended December 31, 2011 and the first quarter of 2012.
Revenues for the year ended December 31, 2011 were US $34,338,974, an increase of 234% over revenues of US $10,282,207 for 2010. For 2011 net income was $6,971,460, or $0.04 per fully diluted common share, compared with a net income of $2,707,286, or $0.02 per share, for the previous year (total shares over 176 million).
First quarter 2012 revenues increased 104% to $8,955,361 as compared to $ 4,378,311 for the 1st quarter of 2011. Net income also increased to $1,322,518 for the first quarter 2012, compared to $911,461 for the first quarter of 2011, a 45% increase.
The growth is attributed to expansion of the Traditional Chinese Medicine (TCM) product lines particularly its premier TCM herbs such as Gastrodiae ("TianMa") and improvements in sales channel management for markets outside of the Sichuan Province combined with consistent cost controls.
"We are extremely pleased to announce solid results for the fourth quarter and the year." said Jiayin Wang, President and CEO of CHRI. "These results are a reflection of our commitment to our goal to expand TCM into new markets world-wide. We are also benefitting from a major trend towards alternative healthcare solutions providing lower cost options. Building upon the solid growth in 2011 through continued implementation of our strategic goals, we are expecting a very successful 2012."
"While we are very pleased with the execution of our business plan to date", Wang added, "we will maintain the same commitment to our superior franchise by adding new premium products like Gastrodia. We have momentum and intend to capitalize on that while recognizing the need to improve communication with our shareholders."
"In addition, we are expanding the commitment of resources to our 'Go Global Initiative' in order to pursue growth opportunities worldwide through acquisition and expanded distribution. We are actively searching for companies and business opportunities which can provide synergies and distribution channels. While our Initiative is international, we are committed to expanding our presence in the USA markets to increase shareholders value and this is our main objective for 2012." said Wang.
China Health Resource, Inc. engages in the development, manufacturing, processing, marketing and sale of raw and pharmaceutical TCM products including Dahurian Angelica Root (DAR) and Rhizoma Gastrodiae and is the only the provider of GAP quality DAR in the People's Republic of China under the registered Trademark Chuan Baizhi™. DAR, which is also known as "Bai Zhi" in Mandarin Chinese, is an herb that is employed as an ingredient in medicine, cosmetics and food, as well as used in TCM for the treatment of pain, swelling and pustule. The Company's DAR-related products include the Bailing Capsule, Yisheng Capsule, Kimchee-Mate and Fragrant Bag, all of which are sold through regional distributors. The Company was founded in 2001 and is based in Suining, Sichuan Province.
For more information visit www.chinahealthresource.com
Certain statements in this document regarding financial matters, other than historical facts, and statements of our expectations, intentions, plans and beliefs, constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to certain events, risks and uncertainties that may be outside our control. The words "believe", "expect", "anticipate", "optimistic", "intend", "will", and similar expressions identify forward-looking statements. The company intends that such proclamations about future expectations, including future revenues and earnings, future business expansion plans, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. These and other risks and uncertainties related to our business are described in greater detail in our filings with the Commission. The foregoing information should be read in conjunction with these filings. We disclaim any intention or obligation to update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
|SOURCE China Health Resource, Inc.|
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