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 reso
|SOURCE China Health Resource, Inc.|
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