NEW JERSEY and HARBIN, China, Nov. 21 /Xinhua-PRNewswire-FirstCall/ -- China Kangtai Cactus Bio-tech Inc according to its filed quarterly report on Nov. 14, today announced earnings of $1,084,959 or 6 cents per share for the three months ended September 30, 2006 compared to the earnings of $436,499 or 3 cents per share for the same period in 2005.
For the nine months ended September 30, 2006 the Company reported earnings of $2.7 million or $0.16 per share compared to the earnings of $1,037,194 or 6 cents per share for the same period in 2005.
Key items for the nine months ended September 30, 2006 compared to the same period in 2005 were:
-- For the nine months ended September 30, 2006, revenues increased by $6,548,835 or 118% to $12,099,294 from $5,550,459 in the corresponding period of the prior year. The increase in revenues was attributable to the fact that the Company’s products are being more effectively marketed and as a result better accepted by the domestic market customers. These products include Cactus Protein Nutrient, Cactus Calcium Peptide Soft Capsule and Cactus Shuxin Capsule, among others too. -- For the nine months ended September 30, 2006, cost of sales increased by $4,059,226or 111% to $7,716,097 from $3,656,871 as compared to the corresponding period of the prior year. The primary factor responsible for the increase was an increase of marketing related expenditure and costs. -- For the nine months ended September 30, 2006, general and administrative expenses decreased by $297,870 or 50.8% to $288,485 from $586,355 as compared to the corresponding period of the prior year. The primary factor for the decrease was Company’s streamlining of its operating team and Company’s reducing expenses on general and administrative items. -- For the nine months ended September 30, 2006, net income increased by $1,699,926 or 163.9%, to $2,737,120 from $1,037,194 for the corresponding period of the prior year. The increase was primarily due to 1) the Company more effectively marketing its products and an increased acceptance by the Company’s domestic market customers; and 2) the decrease in the Company’s cost of sales, distribution, management and operations. About China Kangtai Cactus Bio-tech Inc
China Kangtai Cactus Bio-tech Inc is a U.S. listed company and specializes in producing cactus-based series of health products. Currently, the company’s cactus planting area accounts for more than 60% of the total cactus plantation area in China, and the market share of its products accounts for more than 70% in China.
For more information, please contact: Ren Hu Tel: +1-201-887-0415 Email: rh@xrz.cn
China Kangtai Cactus Bio-tech Inc
CONTACT: Ren Hu of China Kangtai Cactus Bio-tech Inc., +1-201-887-0415, orrh@xrz.cn
