NEW JERSEY and HARBIN, China, Nov. 21 /Xinhua-PRNewswire/ -- China
Kangtai Cactus Bio-tech Inc (OTC Bulletin Board: CKGT) according to its filed
quarterly report on Nov. 14, today announced earnings of $1,084,959 or 6
cents per share for the three months ended September 30, 2006 compared to the
earnings of $436,499 or 3 cents per share for the same period in 2005.
For the nine months ended September 30, 2006 the Company reported
earnings of $2.7 million or $0.16 per share compared to the earnings of
$1,037,194 or 6 cents per share for the same period in 2005.
Key items for the nine months ended September 30, 2006 compared to the
same period in 2005 were:
-- For the nine months ended September 30, 2006, revenues increased by
$6,548,835 or 118% to $12,099,294 from $5,550,459 in the corresponding
period of the prior year. The increase in revenues was attributable
to the fact that the Company’s products are being more effectively
marketed and as a result better accepted by the domestic market
customers. These products include Cactus Protein Nutrient, Cactus
Calcium Peptide Soft Capsule and Cactus Shuxin Capsule, among others
too.
-- For the nine months ended September 30, 2006, cost of sales increased
by $4,059,226or 111% to $7,716,097 from $3,656,871 as compared to the
corresponding period of the prior year. The primary factor
responsible for the increase was an increase of marketing related
expenditure and costs.
-- For the nine months ended September 30, 2006, general and
administrative expenses decreased by $297,870 or 50.8% to $288,485
from $586,355 as compared to the corresponding period of the prior
year. The primary factor for the decrease was Company’s streamlining
of its operating team and Company’s reducing expenses on general and
administrative items.
-- For the nine months ended September 30, 2006, net income increased by
$1,699,926 or 163.9%, to $2,737,120 from $1,037,194 for the
corresponding period of the prior year. The increase was primarily
due to 1) the Company more effectively marketing its products and an
increased acceptance by the Company’s domestic market customers;
and 2) the decrease in the Company’s cost of sales, distribution,
management and operations.
About China Kangtai Cactus Bio-tech Inc
China Kangtai Cactus Bio-tech Inc is a U.S. listed company and
specializes in producing cactus-based series of health products. Currently,
the company’s cactus planting area accounts for more than 60% of the total
cactus plantation area in China, and the market share of its products
accounts for more than 70% in China.
