NEW YORK, Feb. 10 /PRNewswire-Asia-FirstCall/ -- China Dasheng Biotechnology Company (OTC Bulletin Board: CDBT) ("China Dasheng" or "the Company"), a leading producer and distributor of organic bacteria based additives for crops and livestock feeds, today announced that it expects to report fiscal year 2009 second quarter net sales of approximately $5.66 million. In comparison to the $4.70 million in net sales reported during the same period of 2008, this represents an increase of 20.2%. For the first half of fiscal year 2009, the Company expects to report net sales of approximately $10.77 million, an increase of 39.6% compared to the same period during fiscal year 2008.
"Higher than expected strength in our sales volume was the primary reason for the growth in our second quarter results," said Mr. Jinjun Qi, chairman of the board of directors. "While we have continued to expand and develop our present distribution networks, our products are gaining more acceptance in the marketplace. Meanwhile, we are also exploring potential business acquisition opportunities within the agriculture industry."
"We are expecting to report net income of about $2.02 million for the second quarter of fiscal year 2009 and net income of about $3.01 million for the first half of fiscal year 2009. We will provide more details regarding the quarter and our outlook for the rest of the year in our quarterly report which will be filed shortly." Mr. Qi continued, "We also feel very excited about the opportunities for expansion in 2009."
About China Dasheng Biotechnology Company
China Dasheng Biotechnology Company, a leading producer and distributor of organic bacteria based additives for crops and livestock feeds through its three subsidiary segments, Gansu Dasheng Biotechnology Company, Hainan Lushen Biology Technology Company and Yangling Elemiss Foods Company, operates within the biological products and fertilizer agents market including organic fertilizers, non-chemical agents, and biological agents based additives. The major product line of AM/HM biological bacterial crop and live stock feed additive were certified by the China Green Product Development Center as a "Grade A Green Food Raw Material."
Safe Harbor Statement
The statements contained herein that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the potential growth of the markets are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this filing, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
For more information, please contact: James Gao, Vice President Investor Relations Tel: +1-908-938-2025
SOURCE China Dasheng Biotechnology Company
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