Third Quarter 2011 Results
GeoTeam® Note: Third Quarter 2011 vs. 2010 Adjusted EPS was $0.54 vs. $0.38.
"Our third quarter 2011 results demonstrate the continued robust demand for our products in both of our two core business units," stated Marius Silvasan, ONE's CEO. "The new products we launched during 2010 helped boost our gross margin to 45% from 38% for the nine months ended September 2011 compared to the same period a year ago. The significant increase in gross margin validates our business model and the strategy we adopted in 2010. Part of our net income gains for 2011 were off-set by $1.4 million in net income adjustments for the nine months ended September 30, 2011. Notwithstanding these adjustments, our net income for YTD 2011 ended September 30 is 4.4% higher than the same period a year ago."
MIAMI, FL--(Marketwire - Jun 1, 2011) - ONE Bio, Corp. ("ONE" or the "Company") (OTCBB: ONBI), an innovative company utilizing green process manufacturing to produce raw chemicals and herbal extracts, natural and health supplements and organic products, today announced it has made its State Administration of Taxation ("SAT") filings available to investors.
The SAT is a ministerial-level department within the government of the People's Republic of China that is responsible for the collection of taxes. ONE's operating subsidiaries in China, Sanming Huajian Bioengineering Co., Ltd., Jian'ou Lujian Foodstuff Co., Ltd., Fuijian Green Planet Bio-engineering Co., Ltd., and Fuijian Green United Bamboo Technology Co., Ltd., each report individually to the SAT. Various differences between Chinese GAAP, as required by the SAT, and U.S. GAAP, as required by the SEC, require reconciliation of the filings for comparison purposes. Tax filings made with the SAT are based on audited financial data.
The Company's SAT filings, including corresponding U.S. GAAP reconciliation documents prepared by the Company and reviewed by its accounting firm, through 2009, are available at the following link:
http://redchip.com/visibility/investor.asp?symbol=ONBI The Company also intends to make its 2010 SAT filings public in the near future. Marius Silvasan, ONE's CEO, stated, "We understand the market's concern over the veracity of filings for companies with operations in China. We are pleased to address these concerns by making our historical SAT filings, which are materially in line with our SEC filings, available for the investment community to review. We have also included reconciliation information for the first nine months of 2010 and will make available our 2010 SAT filings as soon as they are completed in the coming weeks."
The Company also intends to make its 2010 SAT filings public in the near future.
Marius Silvasan, ONE's CEO, stated, "We understand the market's concern over the veracity of filings for companies with operations in China. We are pleased to address these concerns by making our historical SAT filings, which are materially in line with our SEC filings, available for the investment community to review. We have also included reconciliation information for the first nine months of 2010 and will make available our 2010 SAT filings as soon as they are completed in the coming weeks."
MIAMI, FL--(Marketwire - Apr 21, 2011) - ONE Bio, Corp. ("ONE" or the "Company") (OTCBB: ONBI), an innovative company utilizing green process manufacturing to produce raw chemicals and herbal extracts, natural and health supplements and organic products, today announced that year-to-date sales of its organic food products in Japan have increased by 50% as compared to the same period a year ago.
The sales growth was directly attributable to an increased demand for food, specifically high-quality organic food products, following the recent earthquakes and tsunami experienced by Japan. In response to the rising demand, the Company has increased its production capacity for its precooked organic bamboo and vegetable products.
The Japanese market for organic food and drinks is the largest in the Asia-Pacific region, and Japan is currently the Company's strongest export market, accounting for 30% of ONE's organic product sales. During the fourth quarter of 2010, the Company added new distributors in Japan and expanded its lineup of organic bamboo and vegetable products for Kobe Bussan Supermarkets, one of Japan's biggest supermarket chains. More recently, the Company signed distribution agreements with Toyo Food Trading Company Ltd. and Sanyo Trading Company Ltd., two major Japanese trading companies. ONE expects its organic product sales to Japan to increase to $5.3 million for the fiscal year ending December 31, 2011, an increase of 50% compared to $3.5 million in 2010.
"We have seen a significant increase in our organic product sales to Japan since the earthquakes and tsunami. We have advised our Japanese retailers and distributors that we have increased our manufacturing capacity to accommodate their needs and fulfill all their orders," stated Marius Silvasan, ONE's CEO. "Japanese consumers are very conscientious of the quality of their food, and our products fill that need."
2010 Fourth Quarter:
2010 Full year:
"Our fiscal 2010 results met our expectations. Asia's robust economic growth continues to fuel demand for our products, and we successfully added several new distributors in the Asian market during the fiscal year. Our strong organic growth, coupled with the impacts of two key acquisitions we completed in the third quarter of 2009, enabled us to deliver record results for fiscal 2010," stated Marius Silvasan, ONE's CEO. "In 2011, we remain focused on the continued execution of our business strategy, which calls for continued robust organic growth to be supplemented by key strategic acquisitions."
"We are very pleased with our first quarter results. These results reflect strong organic growth and the contribution of our recently completed acquisitions. Asia's robust economic growth continues to fuel demand for our products. We are focused on highly sought-after organic products, herbal and chemical extracts and natural and health supplements. We have put in place a solid foundation for strong organic growth and continue to seek strategic acquisitions," stated Marius Silvasan, ONE's CEO.
"The increase in our ownership position in one of our key subsidiary, which occurred April 19, 2010, will result in a decrease in the non-controlling interest in future periods further improving our net income and earnings per share. Historically the first quarter is the weakest quarter of the year. We anticipate even stronger results for the remaining three quarters of 2010," added Silvasan.
Green Products
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