June 6, 2012

Tianli Agritech's Q1 net income down to US$706,698

For the first quarter ended March 31, 2012, Tianli Agritech, Inc. has reported that its net income dropped to US$706,698, or US$0.07 per share, compared to the same period last year of US$1.84 million, or US$0.18 per share.

Revenue for the first quarter ended March 31, 2012 was US$7.81 million, compared to US$5.91 million for the first quarter ended March 31, 2011.

Tianli's Chairwoman and CEO, Hanying Li, stated, "We continue to see strong demand across each of our businesses. In the first quarter of 2012 we sold 34% more market hogs while our breeder hog sales were negatively impacted by a weak market and the contamination that occurred in December 2011, which resulted in a loss of approximately 500 breeder hogs.

"I am extremely pleased with the progress of our black hog programme, which will become a big contributor to our sales later this year. We anticipate further growth by expanding the number of farms that participate in our programme with local cooperatives to raise Enshi black hogs."