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Hankersen Intl. Corp. Announces
Second Quarter 2007 Results
Aug.18, 2007
Hankersen Intl. Corp. (OTCBB:HKRS), a leading cork-building material
manufacturer announced results for the second quarter of 2007.
The Company reported an increase in revenue of $0.4 million, or 13%,
to $3.6 million for the three months ended June 30, 2007, as
compared to the same period last year. For the three months ended
June 30, 2007, the Company reported an increase in net income of
$0.23 million, or 143% increase to $0.39 million.
For the six months ended June 30, 2007, the Company reported an
increase in revenues of $0.54 million, or 11%, to $5.28 million. Net
income for the six months ended June 30, 2007 increased $0.18
million, or 61% to $0.49 million.
Mr. Pengcheng Chen, CEO of Hankersen Intl. Corp. commented,
"Increased demand on cork wood floor products and introduction of
wood material, combined with improved gross margin and reduction in
operation expenses helped accelerate growth in revenue and net
income over the same period last year."
Mr. Chen continued, "We are pleased with the performance of last
quarter, and continue exploring strategies in meeting the demand of
our products as well as improving our costs and efficiency in
operations and supply chain. Our plans on consolidating the raw
material provider will provide us a unique competitive edge. We are
excited about the coming quarters and confident in delivering solid
results."
On August 14, 2007, the Company filed its Form 10-Q for the fiscal
quarter ended June 30, 2007. Please refer to the Management's
Discussion and Analysis or Plan of Operation included in the
Company's Form 10-Q filed for a more complete discussion of sales,
margin and expenses.
About Hankersen Intl. Corp.
Hankersen Intl. Corp. is a leading cork-building material
manufacturer based in China. The products are sold under Hanxin
brand name to customers in China, India, Japan, Germany and the
United States. For more information, visit http://www.hankersen.com/
This news release contains forward-looking statements as defined by
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks contained in reports filed by the
Company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the company, are expressly qualified by the
cautionary statements and any other cautionary statements which may
accompany the forward-looking statements. In addition, the company
disclaims any obligation to update any forward-looking statements to
reflect events or circumstances after the date hereof.
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