November 18, 2010

Emerald Dairy gains US$1.47-million net income

Emerald Dairy, Inc. has reported a net income of US$1.47 million, or US$0.04 per share, for Q3 ended September 30, 2010, compared with US$884,625, or US$0.03 per share, on-year.

For the third quarter of 2010, the distributor of infant and children's formula products' sales were US$12.9 million, compared with US$10.16 million for the third quarter of 2009.

Net income for the nine months ended September 30, 2010 was US$459,389, or US$0.01 per share, compared with US$3.7 million, or US$0.12 per share, for the nine months ended September 30, 2009.

For the nine-month period of 2010, sales were US$40.46 million, compared with US$31.26 million for the same period of 2009.

"We had a very productive third quarter on several fronts. Xinganling continues to demonstrate increasing market preference among consumers and families who are willing to pay a bit more to buy Xinganling versus local and lower end brands. We continued to make adjustment in our current 9,000 tonne capacity line and increased our production for the quarter to meet at least part of this demand," stated Yong Shan Yang, CEO and President of Emerald Dairy.