Green Planet Bioengineering Co., Ltd. (OTCBB:
GPLB) ("Green Planet" or the "Company"), a bioengineering
subsidiary of ONE Bio, Corp. (OTCBB: ONBI) that produces high
quality health supplements and organic fertilizers and pesticides
using green processes, reports fourth quarter and full year 2009
results.
Fourth Quarter and Full Year Results:
Fourth quarter 2009 revenue was up 85% to $5,367,906 compared to
$2,900,245 for the same period a year ago. Operating Income was up
150% to $2,458,289 compared to $984,677 for the same period last
year. Net Income was up 176% to $1,785,618 compared to $647,590 for
the same quarter last year. Earnings per share for the fourth
quarter of 2009 reached $0.10 compared to $0.05 for the same period
in 2008.
Full year 2009 revenue reached $13,297,616 compared to
$10,401,530 for the 2008 fiscal period, an increase of 28%. Full
year 2009 operating income and net income reached $5,941,181 and
$4,318,399 respectively compared to $4,651,796 and $3,350,299
respectively for fiscal 2008, an increase of 28% and 29%. Earnings
per share for 2009 reached $0.27 compared to $0.24 for fiscal
2008.
Three months ended Twelve months ended
31-Dec 31-Dec
----------------------- -----------------------
2009 2008 2009 2008
Sales revenue 5,367,906 2,900,245 13,297,616 10,401,530
Cost of sales (2,133,988) (520,256) (5,553,342) (3,939,610)
----------- ----------- ----------- -----------
Gross profit 3,233,918 1,848,884 7,744,274 6,461,920
----------- ----------- ----------- -----------
Operating expenses
Administrative expenses 238,585 522,565 947,251 1,117,729
R&D 178,833 278,103 378,497 444,404
Selling expenses 358,211 63,539 477,345 247,991
----------- ----------- ----------- -----------
775,629 864,207 1,803,093 1,810,124
----------- ----------- ----------- -----------
Income from operations 2,458,289 984,677 5,941,181 4,651,796
Other income/(Expense) (65,267) (14,618) (129,227) (78,578)
Income taxes (607,404) (336,768) (1,493,555) (1,222,919)
----------- ----------- ----------- -----------
Net income 1,785,618 647,590 4,318,399 3,350,299
=========== =========== =========== ===========
"We are pleased with our fourth quarter and full year results.
The launch during the fourth quarter of our over the counter health
product line and increased demand for our 5-HTP extract contributed
to the increase in revenue and net income. We intend to increase
distribution in China and abroad of our over the counter health
product line in 2010," stated Min Zhao, Company CEO. "We are well
positioned with a wide product portfolio to increase our
performance in 2010," added Mr. Zhao.
About Green Planet
Green Planet Bioengineering Co., Ltd. ("Green Planet")
(http://www.greenplanetbio.com) (OTCBB: GPLB), a subsidiary of ONE
Bio, Corp. (OTCBB: ONBI), is a high-tech bioengineering enterprise
that engages in research & development, production and sale of
various extracts from tobacco leaves' residues destined for health
supplements and organic agricultural products. Green Planet is
headquartered in Miami, FL with its main operation located in
Sanming and Fuzhou, China. Since founded in 2005, Green Planet
offers a full range of high quality bio-ecological products which
include raw chemical materials such as CoQ10 and Solanesol, organic
fertilizers and pesticides and organic health nutrients and
supplements. Company's unique position in the bioengineering
industry comes from its R&D using patented cutting-edge methods
to create abundant downstream products ranging from plant
indigenous medicine, pharmaceutical intermediates to a long list of
eco-friendly products.
This press release includes statements that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Reform Act"). Green
Planet Bioengineering, Co., Ltd. claims the protection of the
safe-harbor for forward-looking statements contained in the Reform
Act. These forward-looking statements are often characterized by
the terms "may," "believes," "projects," "expects," or
"anticipates," and do not reflect historical facts. Specific
forward-looking statements contained in this press release include,
but are not limited to: our successful integration of diversified
growth companies, impact of the company's expansion plan, and new
business development success, future financial results, development
and acquisition of new product lines and services, the impact of
competitive products or pricing from technological changes, the
effect of economic conditions and other uncertainties. The
forward-looking statements contained herein involve risks and
uncertainties that could cause actual results to differ materially
from the expectations contained in any such forward-looking
statements. These risks include, but are not limited to: failure to
manage operating expenses or integrate new companies and/or
technologies, each of which could have a material impact on our
business, our financial results, and the company's stock price.
These risks and other factors are detailed in the Company's regular
filings with the U.S. Securities and Exchange Commission. Most of
these factors are difficult to predict accurately and are generally
beyond the Company's control. Forward-looking statements speak only
as to the date they are made and Green Planet Bioengineering, Co.,
Ltd. does not undertake to update forward-looking statements to
reflect circumstances or events that occur after the date the
forward-looking statements are made.
Contact: Investor Relations & Corporate Communications
888-676-4445 ir@greenplanetbio.com Company Contact: Jeanne Chan
Senior VP Tel. +888-676-4445 jchan@onehcorp.com
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