China Health Resource, a developer and provider of raw and pharmaceutical TCM products, today announced unaudited financial results for the fourth quarter and year ended December 31, 2011.
The company expects 2011 fourth-quarter operating revenues of more than $12.5 million, a 218 percent increase compared to the fourth quarter of 2010. For full year 2011, the company expects operating revenues of $34.9 million, a 241 percent increase over 2010 revenues.
China Health expects 2011 fourth-quarter net income to be $2.7 million, or $0.015 per fully diluted common share, compared with $1.6 million or $0.01 per share, reported for the fourth quarter of 2010. For full year 2011, the company anticipates net income of $6.8 million, or $0.038 per fully diluted common share, compared with a net income of$2.7 million, or $0.02 per share in the year prior.
The company attributes its growth to the expansion of its TCM product lines, improvements in sales channel management to extend market reach, and consistent cost controls.
China Health also provided guidance for 2012 with a focus on growing its product lines and implementing further growth initiatives.
The company anticipates 2012 earnings in the range of $0.06 and $0.065 per share.
Jiayin Wang, President and CEO of CHRI, stated, “Speaking to the company’s focus in 2012, we will continue to maintain our leadership in our DAR franchise while we grow our product lines with valuable and high growth products like Gastrodiae. In addition, we will pursue growth opportunities worldwide through acquisition and distribution and grow in areas where we can best serve customers and create value.”
China Health said it will provide detailed results in its final 2011 fourth quarter and year-end earnings press release and 10-K filing.
For more information visit www.chinahealthresource.com
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