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Monday, July 14, 2008 5:19:24 PM
NOEC earnings out; FY08 EPS 32c Vs FY07 EPS 30c
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5775182
Our Company currently has the capacity to produce 150,000 tons of ammonia per year, 150,000 tons of DME per year, 150,000 tons of urea per year, 60,000 tons of ammonium bicarbonate per year and 100,000 tons of methanol per year. During the second quarter of fiscal year 2008, we expanded the Company’s annual DME capacity to 150,000 ton per year. For the year end of March 31, 2008, the Company’s total revenues were $67,832,920.
...
The sales of Urea increased 39.89% to $30,774,271 for the year ended March 31, 2008 from $21,999,472 for the year ended March 31, 2007. This increase is attributable to the technological renovation of the Urea production line which has increased production capacity and the marketing development effort that has been put forth to ensure that the increased output of Urea could be distributed.
The revenue generated from Ammonium Bicarbonate increased 11.24% to $2,320,609 for the year ended March 31, 2008 from $2,086,058 for the year ended March 31, 2007. The increase in revenue can be attributed to the logical organization of production, which has improved the production capacity slightly.
The sales of Methanol decreased 94.31% to $417,180 for the year ended March 31, 2008 from $7,337,211 for the year ended March 31, 2007. This decrease is due to the fact that the majority of self-made Methanol has been used for the increase production of DME by the Company, and only a small portion of Methanol has been sold to outside customers.
The revenue contribution from Liquefied Ammonia has decreased 21% to $1,468,603 for the year ended March 31, 2008 from $1,858,936. The Liquefied Ammonia is an intermediate product created during the synthetic ammonia production process and can be sold directly as finished product. Normally, Liquefied Ammonia is be converted to Urea which results in a higher return for the Company. Therefore, we only sell Liquefied Ammonia to external buyers when: i) the Urea production line was unable to fully convert the Liquefied Ammonia (such as failure of the production line); or ii) the selling price of Liquefied Ammonia is relatively high due to market conditions.
The sales of DME increased 565.88% to $32,626,266 for the year ended March 31, 2008 from $4,899,690 for the year ended March 31, 2007. Such remarkable increase is attributable to the vast increase in production capacity. This production capacity falls short of demand so no DME inventory remains in stock. DME production capacity for the first half and second half of the 2007 fiscal year was 10,000 Tons per year and 50,000 Tons per year, respectively, resulting in a lower output of DME in 2007. The production capacity for the first half of the 2008 fiscal year remained at 50,000 Tons per year, but we expanded the production capacity of DME to 150,000 Tons per year in the second half of the 2008 fiscal year.
The sales of Ammonia Water increase 43.57% to $225,991 for the year ended March 31, 2008 from $157,406 for the year ended March 31, 2007. Ammonia Water is a by product created during the synthetic ammonia production process. During the year, we improved our technology and organizing the production more scientifically to enhance the recycle rate of Ammonia Water, which has resulted in higher output and sales of Ammonia Water. The increase of Ammonia Water output not only could increase company income, but also could reduce environmental pollution.
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NET INCOME
The Company’s net income for year ended March 31, 2008 increased 34.64% to $4,062,941 from $3,017,671 for the year ended March 31, 2007. This large scale increase may due to the comprehensive effect of several factors, which are including the expansion of production capacity; fruitful development of the market; the increase of revenue and the effective control of cost and expenses.
...
offsetting the big increase in net income is a 27% increase in the number of shares outstanding from 9.922mil to 12.640mil.
...
haven't had a chance to look at the effect of capacity increases this year for future revenue gains
· It is anticipated and planned that by the year 2010, the Company will have a manufacturing capacity (and equipment) to produce 600,000 tons of DME per year.
TRADING: "More Signal...less Noise"
LIVING: "One World, One Family, Warm Heart" Dalai Lama
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5775182
Our Company currently has the capacity to produce 150,000 tons of ammonia per year, 150,000 tons of DME per year, 150,000 tons of urea per year, 60,000 tons of ammonium bicarbonate per year and 100,000 tons of methanol per year. During the second quarter of fiscal year 2008, we expanded the Company’s annual DME capacity to 150,000 ton per year. For the year end of March 31, 2008, the Company’s total revenues were $67,832,920.
...
The sales of Urea increased 39.89% to $30,774,271 for the year ended March 31, 2008 from $21,999,472 for the year ended March 31, 2007. This increase is attributable to the technological renovation of the Urea production line which has increased production capacity and the marketing development effort that has been put forth to ensure that the increased output of Urea could be distributed.
The revenue generated from Ammonium Bicarbonate increased 11.24% to $2,320,609 for the year ended March 31, 2008 from $2,086,058 for the year ended March 31, 2007. The increase in revenue can be attributed to the logical organization of production, which has improved the production capacity slightly.
The sales of Methanol decreased 94.31% to $417,180 for the year ended March 31, 2008 from $7,337,211 for the year ended March 31, 2007. This decrease is due to the fact that the majority of self-made Methanol has been used for the increase production of DME by the Company, and only a small portion of Methanol has been sold to outside customers.
The revenue contribution from Liquefied Ammonia has decreased 21% to $1,468,603 for the year ended March 31, 2008 from $1,858,936. The Liquefied Ammonia is an intermediate product created during the synthetic ammonia production process and can be sold directly as finished product. Normally, Liquefied Ammonia is be converted to Urea which results in a higher return for the Company. Therefore, we only sell Liquefied Ammonia to external buyers when: i) the Urea production line was unable to fully convert the Liquefied Ammonia (such as failure of the production line); or ii) the selling price of Liquefied Ammonia is relatively high due to market conditions.
The sales of DME increased 565.88% to $32,626,266 for the year ended March 31, 2008 from $4,899,690 for the year ended March 31, 2007. Such remarkable increase is attributable to the vast increase in production capacity. This production capacity falls short of demand so no DME inventory remains in stock. DME production capacity for the first half and second half of the 2007 fiscal year was 10,000 Tons per year and 50,000 Tons per year, respectively, resulting in a lower output of DME in 2007. The production capacity for the first half of the 2008 fiscal year remained at 50,000 Tons per year, but we expanded the production capacity of DME to 150,000 Tons per year in the second half of the 2008 fiscal year.
The sales of Ammonia Water increase 43.57% to $225,991 for the year ended March 31, 2008 from $157,406 for the year ended March 31, 2007. Ammonia Water is a by product created during the synthetic ammonia production process. During the year, we improved our technology and organizing the production more scientifically to enhance the recycle rate of Ammonia Water, which has resulted in higher output and sales of Ammonia Water. The increase of Ammonia Water output not only could increase company income, but also could reduce environmental pollution.
...
NET INCOME
The Company’s net income for year ended March 31, 2008 increased 34.64% to $4,062,941 from $3,017,671 for the year ended March 31, 2007. This large scale increase may due to the comprehensive effect of several factors, which are including the expansion of production capacity; fruitful development of the market; the increase of revenue and the effective control of cost and expenses.
...
offsetting the big increase in net income is a 27% increase in the number of shares outstanding from 9.922mil to 12.640mil.
...
haven't had a chance to look at the effect of capacity increases this year for future revenue gains
Products 2008 2007 Comparisons
Amount
$ Percentage of
Revenue (%) Amount
$ Percentage of
Revenue (%) Change in
Amount
$ Change in
Percentage
(%)
Urea $ 30,774,271 45.37 % $ 21,999,472 57.38 % $ 8,774,799 39.89 %
Ammonium bicarbonate 2,320,609 3.42 % 2,086,058 5.44 % 234,551 11.24 %
Methanol 417,180 0.62 % 7,337,211 19.14 % (6,920,031 ) (94.31 )%
Liquefied Ammonia 1,468,603 2.17 % 1,858,936 4.85 % (390,333 ) (21.00 )%
DME 32,626,266 48.10 % 4,899,690 12.78 % 27,726,576 565.88 %
Ammonia Water 225,991 0.33 % 157,406 0.41 % 68,585 43.57 %
Total $ 67,832,920 $ 38,338,773 $ 29,494,147
· It is anticipated and planned that by the year 2010, the Company will have a manufacturing capacity (and equipment) to produce 600,000 tons of DME per year.
TRADING: "More Signal...less Noise"
LIVING: "One World, One Family, Warm Heart" Dalai Lama
TRADING: "More Signal...less Noise"
LIVING: "One World, One Family, Warm Heart" Dalai Lama
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