For The Three Months Ended December 31
2009 2008
Net sales $ 10,075,445 $ 8,860,825
Cost of goods sold 4,780,299 4,357,117
Gross profit 5,295,146 4,503,708
Operating expenses:
Distribution expenses 2,586,173 2,119,352
General and administrative expenses 607,215 388,682
Depreciation and amortization expenses 115,665 42,450
Total operating expenses 3,309,053 2,550,484
Operating income 1,986,094 1,953,224
Subsidy income 273,897 -
Other income 2,390 (80,618 )
Income before income taxes 2,262,381 1,872,604
Provision for income taxes - -
Net income $ 2,262,381 $ 1,872,604
Other comprehensive income:
Foreign currency translation adjustment (2,184 ) (39,780 )
Comprehensive income $ 2,260,197 $ 1,832,824
Earnings per share
Basic $ 0.15 $ 1.30
Diluted $ 0.13 $ 0.12
Weighted average shares outstanding
Basic 15,212,690 1,435,568
Diluted 16,914,508 15,196,717
Next quarter the acquisitions of the other dairy companies will be included in the figures. I guess post acquisition outstanding shares would be around 27.000.000. But they will add also for 30.000.000 net value to their balancesheet and maybe an triple increase of sales. I am still confident that there is a lot of upside potential for this stock. The right IR and presentation of this company, but also an uplisting could be a doubling in shareprice in the nearby future (< 1 year).
