Bodisen Biotech Reports Record Earnings Per Share of $0.56 in 2005, Net Income Up 75%, Revenues Up 91%.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Excluding One-Time Financing Related Accounting Charges, Bodisen Well Positioned for Substantial Earnings Growth in 2006 Bodisen Biotech, Inc., (AMEX AMEX See: American Stock Exchange :BBC BBC in full British Broadcasting Corp. Publicly financed broadcasting system in Britain. A private company at its founding in 1922, it was replaced by a public corporation under royal charter in 1927. , London AIM:BODI BODI Business Objects Data Integrator BODI Business of Diving Institute , website: www.bodisen.com) the first China based environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] bio fertilizer company listed on a US stock exchange, and dually listed in London, today announced that it achieved record earnings growth from the production and sale of its organic fertilizer and pesticide products in 2005. The following are some of the key financial highlights for the year ended December 31, 2005 from the company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission (SEC) today: 2005 FINANCIAL HIGHLIGHTS --Revenues grew 91% to approximately $31.0 million from $16.2 million in 2004. --Gross Profit increased to $11.5 million, from $6.6 million for the prior year. --Comprehensive Income of $11.9 million, up 133% from same period in 2004. --Net Income, prior to one time financing related accounting charges of approximately $1.4 million, grew 75% to approximately $8.8 million, or $0.56 per fully diluted share, compared with net income of $5.0 million, or $0.33 per fully diluted share for 2004. Karen Qiong Wang, Chief Executive Officer of Bodisen commented, "We're very pleased with Bodisen's continued substantial growth in 2005. Our results for the year reflect the growing demand for environmentally friendly, high quality, high yield organic fertilizer solutions and the increased strength of the Bodisen brand among China's farmers." REVENUES Bodisen achieved record revenues of $30,975,350 for the year ended December 31, 2005, up 91% from the prior year when the company reported revenues of $16,225,896. The growth in revenue was primarily attributable to the company's completion of a larger manufacturing facility in March 2005 and the success of its marketing efforts, which resulted in Bodisen increasing the number of new contracts and retaining existing customers. NET INCOME Including the impact of one-time financing related accounting charges, Bodisen reported net income of $0.48 per share on a fully diluted basis. 2005 OPERATIONAL HIGHLIGHTS --Finished construction of new manufacturing facility at the company's current location, doubling its organic fertilizer production capacity. --Received research coverage from New York Global Securities. --Began trading on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . --Made a strategic investment of $2.85 million in China Natural Gas Company (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CHNG CHNG Change ), the first China-based natural gas public company in the U.S. capital market. In 2005, China Natural Gas achieved record year-over-year sales growth of more than 400% and profitability. Bodisen currently owns more than 2 million shares of CHNG. --Received additional two-year income tax exemption tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various from the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. --Signed $43 million in contracts for 2006 product delivery, exceeding total revenues for 2005. MANAGEMENT DISCUSSION AND 2006 OUTLOOK "Demand for organic fertilizers and pesticides continue to grow at a high rate," said Ms. Wang. "Bodisen's more than 60 products provide farmers throughout China with a viable, economically attractive solution that are competitively priced compared to traditional chemical fertilizer products. At the same time, our products require less time to apply, create up to 35% higher crop yields, improve soil conditions and increase potential revenues for farmers who can sell their products as 'certified organic green foods,' which typically achieve retail prices of 50-200% higher than products that are not considered 'certified organic green foods.'" "In 2006, we plan to continue to aggressively expand our market reach, which now extends into 20 provinces throughout China. We will continue to expand our marketing channels and production capabilities to meet customer demand. The launch of our new raw materials product line, Mancozeb, by mid-2006 will further enhance our sales and profitability. In addition, we expect to have two new production facilities fully operational by the 2007 March planting season, giving us enough production capacity to further extend our market reach," Ms. Wang said. Commenting on the company's outlook for 2006, Ms. Wang continued, "With a favorable market environment, strong balance sheet, diversified product lines, sales contracts with more than 150 wholesale distributors, and strong brand recognition and local presence among our loyal target customers, we expect to continue to achieve substantial revenue growth and further enhance shareholder value in 2006, while maintaining net income margin in the 30% range." About Bodisen Biotech, Inc. A Delaware company, Bodisen is headquartered in Shaanxi, China's agricultural hub. The Bodisen brand is a highly recognized fertilizer brand in China. Its environmentally friendly "green" products support the mandate of the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
BODISEN HAS RESEARCH COVERAGE IN NEW YORK AND IN LONDON Wall Street firm New York Global Securities, Inc. ("NYGS NYGS New York Graphic Society ", www.newyorkglobal.com) has research coverage for Bodisen. NYGS' parent company New York Global Group (www.nyggroup.com) has a significant China presence and is one of the largest US firms in China in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. sector. London investment bank Charles Stanley (www.charles-stanley.co.uk), a member of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. since 1852, provides research coverage for Bodisen in London. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on the current expectations or beliefs of Bodisen Biotech, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. |
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