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Bodisen Biotech Announces Interim
Results for the Six Month Period Ended June 30, 2007
Sep 29, 2007
Bodisen Biotech, Inc. (the "Company") (Pink Sheets:BBCZ) (LSE:BODI)
(website: www.bodisen.com) today announces its interim results for
the six month period ended June 30, 2007.
Financial highlights:
* Revenues for the six months to June of $8.18m down from $26.9m for
the same period of 2006 - impacted by the negative impact on the
Company's reputation following its delisting from the American
Stock Exchange and the severe Springtime weather in Shaanxi
province
* Gross profit of $3.51m down from $10.6m in 2006, but gross margins
increased to 42% up from 39.6% due to product mix
* Net income for the second quarter to June 2007 was $2.61m after
the
net loss incurred in the First Quarter of ($1.51m), giving net
income for the six months of $1.1m
* Cash position remains strong with $6.47m as of June 30, 2007
Outlook:
Chen Bo, Chairman, commented:
"This has been a difficult year for the Company with the impact of
the abnormally cold spring time in Shaanxi and the massive flooding
we experienced in August, together with the impact of the AMEX
de-listing. However, the business continues to trade profitably and
we have a strong balance sheet. The organic fertilizer market in
China is still in its infancy and there remains an enormous market
opportunity. Accordingly, the Company has continued confidence in
the future of the business."
About Bodisen Biotech, Inc.
Bodisen Biotech, Inc. is a leading manufacturer of liquid and
organic compound fertilizers, pesticides, insecticides and
agricultural raw material certified by the Petroleum Chemical
Industry Administrative office of China (Chemical Petroleum
Production Administrative Bureau), Shaanxi provincial government and
Chinese government. The company is headquartered in Shaanxi province
and is a Delaware corporation. The company files annual and periodic
reports with the U.S. Securities and Exchange Commission, which are
accessible at www.sec.gov.
Safe Harbor Statement
This press release may contain forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on the
current expectations or beliefs of Bodisen Biotech, Inc. management
and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in
the forward-looking statements.
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