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DRGG .131 ... Worth another look.

Monday October 16, 8:30 am ET


NINGBO, CHINA--(MARKET WIRE)--Oct 16, 2006 -- Dragon International Group Corp. (OTC BB:DRGG.OB - News), one of China's leading manufacturers and distributors of specialty paper products and packing materials, today announced record operating results for the fiscal year ending June 30, 2006. The Company posted $18.43 million in net revenues, a 63% increase over fiscal year 2005 net revenues of $11.28 million. Dragon generated $1.227 million in operating income, a 620% increase compared to $175,000 in fiscal 2005. Excluding stock-based compensation and non-cash charges related to Dragon's July 2005 debt financing and its conversion into equity this past fiscal year, EPS would have been $0.02 per share. The Company ended the fiscal year with stockholder equity of $8.246 million, approximately $0.14 per share, a record level for the Company. For more information about our financial performance, please review our 10K filing with the United States Securities and Exchange Commission.