ONE Bio, Corp. ("ONE" or the "Company") (OTCBB: ONBI), an
innovative company utilizing green process manufacturing to produce
raw chemicals and herbal extracts, natural and health supplements
and organic products, announces unaudited results for the third
quarter and year-to-date (YTD) ended September 30, 2011. Summary of
financial results include the following:
Revenue for the three months ended September 30, 2011 was flat
at $13,540,053, compared to $13,504,890 for the three months ended
September 30, 2010, bringing revenue for the nine months ended
September 30, 2011 to $38,959,672 compared to $37,347,194 for the
same period last year (an increase of 4.3%). YTD the Company
experienced strong revenue growth from both of its core operating
business units. The Company's Chemical and Herbal Extract division
("CHE") sales increased by 26% while Company's Organic Products
division ("OP") sales increased by 31%. This increase in sales was
partly offset by a decrease of $6.7 million in sales in the
Company's non-core third party financing business ("FIN"), which
sales decrease was not as a result of loss of customers but rather
a business model change which focused the division's revenues
towards transaction based fees with considerably higher gross
margins.
Net income for the three months ended September 30, 2011 reached
$1,746,736, compared to $1,912,286 for the three months ended
September 30, 2010, bringing net income for the nine months ended
September 30, 2011, to $6,162,051 compared to $5,898,845 for the
same period last year, an increase of 4.4%. Net income for the
three months ended September 30, 2011 included a write-off of
intangible assets in the CHE division of 745k, a $354K adjustment
for a hedge in the FIN division and a $300k legal expense
associated to the S1 withdrawn by the Company earlier this year,
for a total adjustment to net income of $1.4 million.
Gross profit for the three months ended September 30, 2011 was
$5,757,721 as compared to $5,020,691 for the same period in 2010.
Gross margin was up at 43% compared to 37% for the third quarter of
2010. The increase in gross margin for the third quarter of 2011
was primarily due to the increased margin in the Company's newer
products which were launched in the second half of 2010, and higher
margin in the Company's FIN business which reached 39% versus 17%
in the same quarter last year. Gross profit for the nine months
ended September 30, 2011 continued its positive trend. The Company
produced 45% gross margin as compared to 38% for the nine months
ended September 30, 2011. The business units margin continued to
stabilize with the CHE unit at 52% due to Resveritrol, Ganoderma
Tea and Green Tea extracts, while the OP unit contributed 39% from
strong contributors of Spring Bamboo Shoots, Seasoned Bamboo Shoots
and Seasoned Vegetables while the FIN business unit contributed 42%
versus 17% from the prior year. The gross margin reflects a
positive trend over the past few quarters and the Company will
continue to focus on improving the gross margin.
Operating income for the three months ended September 30, 2011
remained stable at $3,068,901, compared to $3,130,103 for the three
months ended September 30, 2010, bringing operating income for the
nine months period ended September 30, 2011 to $10,311,671 as
compared to $9,586,465 for the same period a year ago. Operating
expenses for the third quarter of 2011 totaled $2,688,820 as
compared to $1,890,588 in the same period a year ago, bringing
operating expenses for the nine months period ended September 30,
2011 to $7,291,119 as compared to $4,473,621 for the same period in
2010. The increase in operating expenses was primarily related to
higher selling expenses and $1.4 million in net income adjustments
as outlined above, while 2010 operating expenses were reduced by a
one-time tax gain.
Earnings per share for the three months ended September 30, 2011
reached $0.23 ($0.22 on a fully diluted basis), compared to $0.31
($0.29 on a fully diluted basis) for the three months ended
September 30, 2010 bringing earnings per share for the nine months
ended September 30, 2011 to $0.87 ($0.82 on a fully diluted basis)
compared to $0.98 ($0.93 on a fully diluted basis) for the same
period last year.
As of September 30, 2011, cash and cash equivalents totaled
$14.5 million, working capital totaled $18.1 million, and
shareholders' equity was $49.3 million.
Three months ended Nine months ended
September 30, September 30,
------------------------ ------------------------
2011 2010 2011 2010
----------- ----------- ----------- -----------
Revenues $13,540,053 $13,504,890 $38,959,672 $37,347,194
Cost of sales 7,782,332 8,484,199 21,356,882 23,287,108
----------- ----------- ----------- -----------
Gross profit 5,757,721 5,020,691 17,602,790 14,060,086
----------- ----------- ----------- -----------
Operating expenses
General and
administrative
expenses 1,583,385 1,436,565 5,301,402 3,695,867
Intangible assets
expense 744,502 - 744,502 -
Research and
development expenses 85,011 73,248 300,338 186,856
Selling and marketing
expenses 275,922 380,775 944,877 590,898
----------- ----------- ----------- -----------
2,688,820 1,890,588 7,291,119 4,473,621
----------- ----------- ----------- -----------
Income from operations 3,068,901 3,130,103 10,311,671 9,586,465
Interest and financing
expense (422,446) (172,689) (1,141,933) (546,979)
Interest income 25,402 9,316 58,812 21,935
Other expense (157,222) (231,871) (126,081) (592,503)
----------- ----------- ----------- -----------
Income before income
taxes 2,514,635 2,734,859 9,102,469 8,468,918
Provision for income
taxes (734,795) (710,510) (2,833,682) (2,214,710)
----------- ----------- ----------- -----------
Net income 1,779,840 2,024,349 6,268,787 6,254,208
Net income attributable
to non-controlling
interest (33,104) (112,063) (106,736) (355,363)
----------- ----------- ----------- -----------
Net income attributable
to Company $ 1,746,736 $ 1,912,286 $ 6,162,051 $ 5,898,845
=========== =========== =========== ===========
Earnings per share
-Basic $ 0.23 $ 0.31 $ 0.87 $ 0.98
-Diluted $ 0.22 $ 0.29 $ 0.82 $ 0.93
=========== =========== =========== ===========
Weighted average number
of shares outstanding
-Basic 7,636,568 6,158,559 7,097,667 6,007,606
-Diluted 8,113,047 6,529,259 7,537,201 6,373,265
=========== =========== =========== ===========
"Our third quarter 2011 results demonstrate the continued robust
demand for our products in both of our two core business units,"
stated Marius Silvasan, ONE's CEO. "The new products we launched
during 2010 helped boost our gross margin to 45% from 38% for the
nine months ended September 2011 compared to the same period a year
ago. The significant increase in gross margin validates our
business model and the strategy we adopted in 2010. Part of our net
income gains for 2011 were off-set by $1.4 million in net income
adjustments for the nine months ended September 30, 2011.
Notwithstanding these adjustments, our net income for YTD 2011
ended September 30 is 4.4% higher than the same period a year
ago."
About ONE Bio, Corp. ONE Bio, Corp.
("ONE") (OTCBB: ONBI) (www.onehcorp.com), headquartered in Miami,
FL, is an innovative company utilizing patented green process
manufacturing to produce raw chemicals and herbal extracts, natural
supplements and organic products. ONE is focused on the
Asia-Pacific region and the United States. Key products include
widely recognized Solanesol, CoQ10, Resveratrol and 5-HTP, organic
fertilizers, and organic bamboo health food and beverages. ONE has
experienced solid organic growth driven by a robust demand for its
products in China, Japan and the United States.
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"). ONE
Bio, Corp. 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 ONE Bio, Corp. 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: Marius Silvasan CEO Tel: +888.676.4445 Email:
msilvasan@onehcorp.com Investor Relations Contact: Investor
Relations & Corporate Communications Tel: 888-676-4445 Email:
ir@onehcorp.com
One Bio (CE) (USOTC:ONBI)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
One Bio (CE) (USOTC:ONBI)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024