Nutrastar Announces Second Quarter 2011 Financial Results
HARBIN, China, Aug 12, 2011 /PRNewswire-Asia-FirstCall/ --
Financial Highlights for the Three Months Ended June 30, 2011:Revenues increased 40.8% to $7.68 millionGross profit increased 30.1% to $5.95 million, a gross margin of 77.4%Net income rose 14.2% to $3.90 million, representing a net margin of 50.8%Basic earnings per share ("EPS") was $0.26; Diluted EPS was $0.24
Financial Highlights for the Six Months Ended June 30, 2011:Revenues increased 31.8% to $13.48 millionGross profit increased 25.3% to $10.37 million, a gross margin of 77.0%Net income rose 12.6% to $6.91 million, representing a net margin of 51.3%Basic EPS was $0.46; Diluted EPS was $0.42
Nutrastar International Inc. (OTCBB: NUIN; "Nutrastar" or the "Company"), a leading producer and supplier of premium branded Traditional Chinese Medicine ("TCM") consumer products, today announced record financial results for the three and six months ended June 30, 2011.
Ms. Lianyun Han, CEO of Nutrastar, commented, "We are pleased to report another successful quarter for Nutrastar and its shareholders, characterized by marked increases in both top and bottom line growth and continued expansion of our functional health beverage product line. Revenue recorded increased roughly 40% compared to the same 2010 period, indicative of strong and steady consumer demand for our core product, commercially cultivated Cordyceps Militaris, and growing demand for our beverages. Launched late last year, beverage sales increased significantly, approximately 390%, reaching $1.13 million for the second quarter of 2011, as compared to $0.23 million recorded in the first quarter of 2011. Net income rose 14.2% in the second quarter when compared to the same period of 2010. Overall gross margin for the second quarter was 77.4%."</