Green Planet Reports First Quarter 2010 Results
18 Maio 2010 - 8:30AM
Marketwired
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 first quarter 2010 results.
First Quarter 2010 Results: First quarter
2010 revenue was up 42% to $3,259,429 compared to $2,297,621 for
the same period a year ago. Operating Income was up 8% to
$1,233,651 compared to $1,140,223 for the same period last year.
Net Income was up 12% to $944,748 compared to $842,725 for the same
quarter last year. Earnings per share for the first quarter of 2010
remained unchanged at $0.05 compared to the same period 2009.
Three months ended March 31,
-----------------------------
2010 2009
Sales revenue $ 3,259,429 $ 2,297,621
Cost of sales (1,469,280) (852,686)
------------- -------------
Gross profit 1,790,149 1,444,935
------------- -------------
Operating expenses
Administrative expenses 321,799 212,215
Research and development expenses 60,388 36,466
Selling expenses 174,311 56,031
------------- -------------
Total operating expenses 556,498 304,712
------------- -------------
Income from operations 1,233,651 1,140,223
Interest income 1,569 249
Other income 90 -
Finance costs (36,709) (88)
------------- -------------
Income before income taxes and minority
interest 1,198,601 1,140,384
Income taxes (253,853) (297,659)
------------- -------------
Net income $ 944,748 $ 842,725
============= =============
"We are pleased with our first quarter results. Our two key raw
extracts 5-HTP and Resveratrol continued to drive sales. This year
we are focused on increasing distribution in China and abroad of
our over-the-counter health products and wholesale of raw
materials," stated Min Zhao, Company CEO. "We anticipate continued
strong performance throughout 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.
Company Contact: Jeanne Chan Senior VP Tel. +888-676-4445
jchan@onehcorp.com
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