Friday, May 22, 2009 11:02:18 AM
SEED having a good day!
Origin Agritech to report 1Q09 deferred revenue of RMB176.63 mln an increase 57.63% for the three-months ended December 31, 2008 (SEED) 3.83 +0.34 : Co announce unaudited financial results for the second quarter ended March 31, 2009 on May 26, 2009. These results reflect the co's financial statements during the period from January 1, 2009 to March 31, 2009. The co's Q109 financial results improvement included: 1Q09 Deferred Revenue was RMB176.63 mln ($25.84 mln) increased 57.63% for the three-months ended December 31, 2008 as compared to RMB112.05 mln ($15.36 mln) for the same period last year. 1Q09 Total Operating Expenses for the three-months ended December 31, 2008 were RMB39.96 mln ($5.85 mln) decreased 15.0% as compared with RMB 47.01 mln (US$6.44 mln) reported for the same period in 2007. "Our positive trends we saw in FY08 are carrying into FY09. Q109 demonstrated these positive growth trends. We expect to remaining quarters to show similar growth trends. The strength of our renewed product portfolio and our long-term, technology-based solutions are meeting the demands of a growing market opportunity... We had two good quarters, and we continue to press on toward more advanced agricultural technologies, we are determined to drive improved performance going forward." Based on preliminary financial data, the company expects annual revenue for the FY09 to range from RMB 550 mln to RMB 580 mln, and annual operating cash flow is expected to be around RMB 80 mln, both improvements over fiscal year 2008.
Origin Agritech to report 1Q09 deferred revenue of RMB176.63 mln an increase 57.63% for the three-months ended December 31, 2008 (SEED) 3.83 +0.34 : Co announce unaudited financial results for the second quarter ended March 31, 2009 on May 26, 2009. These results reflect the co's financial statements during the period from January 1, 2009 to March 31, 2009. The co's Q109 financial results improvement included: 1Q09 Deferred Revenue was RMB176.63 mln ($25.84 mln) increased 57.63% for the three-months ended December 31, 2008 as compared to RMB112.05 mln ($15.36 mln) for the same period last year. 1Q09 Total Operating Expenses for the three-months ended December 31, 2008 were RMB39.96 mln ($5.85 mln) decreased 15.0% as compared with RMB 47.01 mln (US$6.44 mln) reported for the same period in 2007. "Our positive trends we saw in FY08 are carrying into FY09. Q109 demonstrated these positive growth trends. We expect to remaining quarters to show similar growth trends. The strength of our renewed product portfolio and our long-term, technology-based solutions are meeting the demands of a growing market opportunity... We had two good quarters, and we continue to press on toward more advanced agricultural technologies, we are determined to drive improved performance going forward." Based on preliminary financial data, the company expects annual revenue for the FY09 to range from RMB 550 mln to RMB 580 mln, and annual operating cash flow is expected to be around RMB 80 mln, both improvements over fiscal year 2008.
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