Green Planet Reports Second Quarter 2009 Results: Continued Strength
17 Agosto 2009 - 10:00AM
Marketwired
Green Planet Bioengineering CO., LTD. (OTCBB: GPLB) ("Green Planet"
or the "Company"), a bioengineering subsidiary of ONE Holdings,
Corp. (OTCBB: ONEZ) that creates high quality health supplements
and organic fertilizers and pesticides using green processes,
reports second quarter and YTD 2009 results.
Second quarter 2009 revenue was $2,169,748. EBITDA (defined as
earnings before depreciation, amortization, interest and taxes) was
$920,085. Operating Income was $841,466. Net Profit reached
$615,857.
YTD 2009 revenue was $4,467,369 while YTD 2009 EBITDA reached
$2,131,764. YTD 2009 Operating income and net income came to
$1,981,689 and $1,458,582 respectively.
Three
months Six months
----------- -----------
June 30, June 30,
2009 2009
(unaudited) (unaudited)
Sales revenue $ 2,169,748 $ 4,467,369
Cost of sales (988,587) (1,841,273)
----------- -----------
Gross profit 1,181,161 2,626,096
----------- -----------
Operating expenses 339,695 644,407
----------- -----------
Income from operations 841,466 1,981,689
Other Income/(Expenses) (6,895) (6,734)
----------- -----------
Income before income taxes 834,571 1,974,955
Income taxes - Note 4 (218,714) (516,373)
----------- -----------
Net income $ 615,857 $ 1,458,582
=========== ===========
Earnings per share - Note 5
- Basic $ 0.04 $ 0.09
=========== ===========
- Diluted $ 0.03 $ 0.07
=========== ===========
"We are pleased with our second quarter and 2009 YTD results. We
continued to maintain high gross margins in excess of 59% and
deliver strong positive net income. Our earnings per share now
reach $0.09 for 2009 YTD in line with our expectations. Sales of
Solanesol continued to rank first amongst all our products with an
increasing demand for our organic fertilizers and other health
nutrients. We also finalized during the second quarter a critical
lease for 1824 acres of medicine based land that we intend to
utilize for the growing of Sarcandra Glabra and various plants for
extracting Resveratrol. Ethyl acetate extracted from Sarcandra
Glabra is critical to cancer cure researches done worldwide thus in
high demand. Resveratrol is a powerful phytoestrogen antioxidant
which is believed to have several health benefits such as cancer
prevention, promote longevity and improve Alzheimer's disease. Both
of these are highly sought extracts and they will result in
substantial revenue to our company," commented Green Planet
Chairman and CEO, Mr. Min Zhao.
"We are now gearing up for what are historically the two
strongest quarters of the year. Our R&D progress in the first
half of 2009 has allowed us to complete development for the Ethyl
acetate extract and Resveratrol which are two new products we have
launched late in the second quarter. These products coupled with
the improvements made to our current portfolio should drive our
performance for the remainder of 2009," added Mr. Zhao.
About Green Planet
Green Planet Bioengineering CO., LTD. ("Green Planet")
(http://www.greenplanetbio.com) (OTCBB: GPLB), a subsidiary of ONE
Holdings, Corp. (OTCBB: ONEZ), through its Chinese subsidiary 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. The 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.
About ONE Holdings, Corp.
ONE Holdings, Corp. ("ONE") (OTCBB: ONEZ) (www.onehcorp.com)
headquartered in Miami, FL, is an investment company owning
majority equity interest in core operating assets in Biotechnology
located in the Asia Pacific region. Through ONE, small private
companies gain access to capital, experienced management and
strategic insight. ONE intends to build strong synergies amongst
all subsidiaries to enhance shareholder value. ONE is working with
each subsidiary to promote organic and acquisition driven growth.
ONE plans to leverage its financing and distribution subsidiaries
to provide ONE's very profitable biotechnology businesses with
growth capital and expanded distribution allowing them to achieve
scale. As scale is achieved, ONE intends to bring each subsidiary
public to maximize value to its investors.
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
877-544-2288 ir@greenplanetbio.com
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