Cheng Chang Shoes Industry Co. (0001376866)

All | Financial Target Agreements | Financials | Reverse Merger Activity

Wednesday, November 24, 2010

Cheng Chang Shoes Industry Company Limited
Consolidated Statements of Income
For the fiscal years ended June 30, 2010 and 2009
(Stated in US Dollars)
   
    Note     2010     2009  
Revenue   2Q   $  26,105,975   $  17,873,537  
Cost of revenue   2R     15,904,771     11,820,386  
     Gross profit         10,201,204     6,053,151  
Selling expenses         152,939     164,051  
General and administrative expenses     631,680     403,844  
     Total operating expenses         784,619     567,895  
                   
Operating income         9,416,585     5,485,256  
                   
Other income         1,397     3,299  
Interest income         13,523     8,017  
Interest expense         (204,875 )   (228,093 )
       Total other income/(expenses)         (189,955 )   (216,777 )
Pre-tax income         9,226,630     5,268,479  
Provisions for income tax   2N,13     2,313,043     1,318,623  
Net income (loss)       $  6,913,587   $  3,949,856  
Earnings per share   2S              
     Basic       $  69.13   $  39.49  
     Diluted       $  69.13   $  39.49  
Weighted average shares outstanding              
     Basic         100,000     100,000  
     Diluted         100,000     100,000  
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