Bodisen Biotech Sees Record 1st Quarter Net Income, Company Provides Guidance for Accelerated Sales and Earnings Growth in 2006.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 -- 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, announced today that the company experienced strong sales in the first quarter of 2006. Bodisen sees record earnings for the quarter ended March 31, 2006. In the first quarter that ended on March 31, 2005, Bodisen reported total revenues of $4,701,675 and net income of $796,733, or $0.05 fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of . On the First Quarter Earnings Karen Qiong Wang, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bodisen commented: "In 2005, Bodisen reported a year of record sales and earnings. The 4th quarter of each year is historically the slowest period for the agricultural industry due to the frozen winter season and less farming activities. Our earnings in 2005 would have been approximately $570,000 ($0.04 per share) higher, had we not spent critically important marketing expenses in the 4th quarter of 2005 for 2006 related marketing efforts in anticipation of strong growth in 2006. With a sound marketing program in place, we started the 2006 planting season with a strong balance sheet, abundant capital without additional funding needs, deeper market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and a strong nationally recognized "Bodisen" brand, which we believe will result in continued rapid growth for the company in 2006. Our factories are operated around the clock to keep up with growing customer demand. We look forward to reporting record earnings for our first quarter and building on this growth in the upcoming second and third quarters, which typically are our strongest quarters of the year." 2006 Guidance and Update Ms. Wang said,"Since entering the public market in March 2004, Bodisen has consistently achieved high double digit Noun 1. double digit - a two-digit integer; from 10 to 99 integer, whole number - any of the natural numbers (positive or negative) or zero; "an integer is a number that is not a fraction" year-over-year sales and earnings growth. With more than 60 products, enhanced brand recognition, an extensive distribution network, strong market demand for organic bio-fertilizers and sufficient capital resources, we expect to continue to achieve strong year-over-year revenue and earnings growth in 2006." "In November 2005, we received $43 million in signed orders for 2006 at two large industry trade shows, which we believe represent approximately 70% of our expected annual sales in 2006 and already exceeds our 2005 reported revenues of approximately $31.0 million. In 2006, we expect to at least double our 2005 sales volume while targeting net margin of approximately 30%. As Chinese farmers increasingly transition from chemical fertilizers to more cost-effective, higher yield and environmentally friendly organic bio-fertilizers, Bodisen is well-positioned to benefit from this favorable market environment. With an extensive market reach covering almost 60% of China, Bodisen is able to supply farmers with complete agricultural product solutions that meet their changing needs throughout the year," said Ms. Wang. In addition to its expected revenue growth and net margin performance, the company stated that its 2006 plans include the completion of two manufacturing facilities in the northeast and northwest regions of China, which are two of the largest farming areas in China. Bodisen already has established distribution channels in these areas through sales of its high margin liquid fertilizers. The facilities are expected to be up and running in 2006, in time for the 2007 planting season product sales. Bodisen believes that the added capacity could potentially double the company's sales in 2007 compared to 2006. China is the largest fertilizer market in the world with a total market size of approximately $17 billion annually for agricultural products. Bodisen has considerable room for growth for many years to come. "After completing extensive due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. on our business and financials led by global law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
About Bodisen Biotech, Inc. A Delaware company, Bodisen is headquartered in Shaanxi, China's agricultural hub. In January 2006, Bodisen was ranked the 16th fastest growing company in China by Forbes China. 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
, and agricultural raw materials. Bodisen's organic fertilizers are government certified as "organic" and can be absorbed by plants within 48 hours and enrich soil conditions without the damaging effects associated with chemical fertilizers. Bodisen's products address grains, vegetables, and fruit crops and have been proven to increase crop yields by 10% to 35% while being environmentally friendly. Among China's population of 1.3 billion, approximately 900 million are farmers or have agriculture related jobs whose incomes depend on their crop yields. With approximately 600 (and growing) nationwide distribution centers, Bodisen has experienced rapid growth. 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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