Nutrastar Intl (OTC BB:NUIN)

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Thursday, March 25, 2010

The GeoTeam will be tracking the Nutrastar Intl story. The company just reported strong 2009 fourth quarter results:

	Q4 2009	Q4 2008	CHANGE

Sales	$3.8 M	$2.8 M	34.00%
Gross Profit	$3.0 M	$1.8 M	64.30%
GAAP Net Income	$2.0 M	($1.2M)	N/A
Adjusted Net Income	$2.0 M	$0.9 M*	118.00%
GAAP EPS	$0.14	($0.10)	N/A
Adjusted EPS	$0.14	$0.08*	75.00%

* Excludes one-time non-cash merger costs of $2.1 million in Fourth Quarter 2008

For the full year NUIN reported adjusted EPS of $0.58 compared to $0.49 in 2008.

There are still a few things to iron out:

Make goods net income targets are not as strong as we would like
The company needs to raise funds from foreign investors to comply with regulatory requirements surrounding its reverse merger.

Still, with strong commentary and shares trading at a P/E of only 7, we believe the story is worth monitoring for upside surprises.

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