MIAMI, FL--(Marketwire - November 10, 2010) -
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ONE Bio, Corp. |
Revenue for the three months ended September 30, 2010 reached $13,504,890, compared to $4,157,806 for the three months ended September 30, 2009 (an increase of 225%), bringing revenue for the nine months ended September 30, 2010 to $37,347,194 compared to $8,625,175 for the same period last year (an increase of 333%).
Net income for the three months ended September 30, 2010 reached $1,912,286, compared to $849,970 for the three months ended September 30, 2009 (an increase of 125%), bringing net income for the nine months ended September 30, 2010, to $5,898,845 compared to $2,072,065 for the same period last year (an increase of 185%).
The increase in revenue and net income in the third quarter of 2010 is primarily attributable to the acquisitions the Company completed during the third quarter of 2009 and the increase in demand for the Company's chemical and herbal extracts and organic products.
Earnings per share for the three months ended September 30, 2010 reached $0.31 ($0.29 on a fully diluted basis), compared to $0.18 ($0.17 on a fully diluted basis) for the three months ended September 30, 2009 bringing earnings per share for the nine months ended September 30, 2010 to $0.98 ($0.93 on a fully diluted basis) compared to $0.44 ($0.43 on a fully diluted basis) for the same period last year.
Three Months ended Nine Months ended
September 30, September 30,
------------------------ ------------------------
2010 2009 2010 2009
Revenues $13,504,890 $ 4,157,806 $37,347,194 $ 8,625,175
Cost of
sales 8,484,199 2,068,381 23,287,108 3,909,654
----------- ----------- ----------- -----------
Gross
profits 5,020,691 2,089,425 14,060,086 4,715,521
----------- ----------- ----------- -----------
Operating
expenses
G&A
expenses 1,436,565 428,220 3,695,867 923,031
R&D
expenses 73,248 126,625 186,856 199,664
Selling &
marketing
expenses 380,775 43,543 590,898 120,100
1,890,588 598,388 4,473,621 1,242,795
----------- ----------- ----------- -----------
Income from
operations 3,130,103 1,491,037 9,586,465 3,472,726
Interest and
financing
expense (172,689) (53,575) (546,979) (53,575)
Interest
income 9,316 1,693 21,935 3,365
Other
income/
(expense) (231,871) 10,105 (592,503) 1,699
----------- ----------- ----------- -----------
Income
before
income
taxes 2,734,859 1,449,260 8,468,918 3,424,215
Provision
for income
taxes (710,510) (396,033) (2,214,710) (912,406)
----------- ----------- ----------- -----------
Net income 2,024,349 1,053,227 6,254,208 2,511,809
non-
controlling
interest (112,063) (203,257) (355,363) (439,744)
----------- ----------- ----------- -----------
Net income
attributable
to Company $ 1,912,286 $ 849,970 $ 5,898,845 $ 2,072,065
=========== =========== =========== ===========
Earnings per
share
- Basic $ 0.31 $ 0.18 $ 0.98 $ 0.44
=========== =========== =========== ===========
- Diluted $ 0.29 $ 0.17 $ 0.93 $ 0.43
=========== =========== =========== ===========
"Third quarter results have met our expectations. Asia's robust economic growth continues to fuel demand for our products," stated Marius Silvasan, ONE's CEO. "The third quarter is typically our second strongest quarter with fourth quarter being our strongest. We foresee continued improvements in our operating results in the fourth quarter," added Silvasan.
About ONE Bio, Corp.
ONE Bio, Corp. ("ONE") (OTCBB: ONBI) (www.onehcorp.com) headquartered in Miami, FL, is an innovative company utilizing green process manufacturing to produce raw chemicals and herbal extracts, natural supplements and organic products. ONE is focused on capitalizing on the rapidly growing markets of the Asia Pacific region. Key products include widely recognized Solanesol, CoQ10, Resveratrol and 5-HTP, organic fertilizers, and organic bamboo health food and beverages. ONE's growth plan targets an aggressive acquisition driven strategy supported by strong organic growth. Through ONE, small private companies gain access to capital, experienced management and strategic insight. ONE builds strong synergies amongst all subsidiaries to enhance shareholder value. ONE is working with each subsidiary to promote organic and acquisition driven growth.
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:
Jeanne Chan
Senior VP
Tel. +888-676-4445
jchan@onehcorp.com
Contact:
Investor Relations & Corporate Communications
888-676-4445
ir@onehcorp.com
