November 15, 2010

Tianli Agritech doubles Q3 profit

Tianli Agritech Inc, a hog breeding company based in Wuhan, China, posted an increase in its third-quarter net income to US$2.2 million or US$0.23 per share, compared with US$1.1 million or US$0.13 per share in the same quarter last year.

Revenue for the quarter increased by 76% to US$5.5 million, from US$3.2 million in the prior-year period.

For nine months, net income was US$6.0 million, up 91% from US$3.1 million in the year-ago period. Earnings rose to US$0.69 per share from US$0.39 per share in the previous year period.

Revenue for nine months was US$15.5 million, compared to US$9.2 million last year.