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Feihe Intl (ADY) – Comments & Business Outlook
Friday, November 9, 2012 18:32
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Third Quarter 2012 Financial Highlights:
- Revenue increased approximately $2.7 million, or 4.3%, to $66.1 million in 3Q12 vs. $63.4 million in 2Q12:
- Gross profit increased approximately $8.8 million, or 32.0%, to $36.3 million in 3Q12 from $27.5 million in 3Q11, and up $1.0 million, or 2.6%, sequentially from $35.3 million in 2Q12.
- Gross profit margin was 54.9% in 3Q12 vs. 36.5% in 3Q11.
- Net income attributable to common shareholders of the Company was $7.5 million in 3Q12, up approximately $7.1 million from $473,000 in 3Q11 and up approximately $1.7 million, or 29.0%, sequentially from $5.8 million in 2Q12.
- Diluted net income from continuing operations per common share (“EPS”) was $0.38 in 3Q12, up significantly from $0.11 in 3Q11, and increased from $0.29 in 2Q12.
Mr. Leng You Bin, the Company’s Chairman and Chief Executive Officer, stated, “We are pleased with our third quarter results. Our improved gross profit and significantly improved net income attributable to common shareholders reflects the success of our efforts to control costs and to focus our sales on higher margin products. In particular, sales of infant milk powder were up 15% from the third quarter 2011, especially our Feifan and AstroBaby series. We plan to continue this strategy and to enhance our premium quality brand awareness.”
2012-11-09 18:21:14
Source: http://geoinvesting.com/companies/ady_feihe_intl/research/comments_business_outlook/0040549
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