Bodisen Biotech, Inc., the First China Based Environmentally Friendly Bio Fertilizer Company Listed on a U.S Stock Exchange to R
27 Septembre 2005 - 7:36PM
PR Newswire (US)
NEW YORK, Sept. 27 /PRNewswire-FirstCall/ -- Bodisen Biotech, Inc.
(AMEX: BBCAMEX:website:AMEX:www.bodisen.com) will ring the opening
bell at the American Stock Exchange on Thursday, September 29th, in
celebration of being the first China based environmentally friendly
bio fertilizer company listed on a U.S stock exchange. Bodisen
became an AMEX listed company under stock symbol BBC on August
26th. Bodisen's Chairman & CEO Ms. Qiong Wang, President Bo
Chen and other company management members will be present at the
ceremony with AMEX officials. The event is coordinated by Wall
Street firm New York Global Group and the American Stock Exchange.
Ms. Qiong Wang commented: "Bodisen is very pleased with our listing
on the AMEX, which we believe will reflect our status as one of the
premier China- based fast growing companies listed in the US.
Earlier in 2005, Forbes China ranked Bodisen one of top 100 growth
companies in China. For years, Bodisen has provided environmentally
friendly bio fertilizer products to a large target market, China's
900 million farmers. Bodisen is focused on its shareholders as well
as exemplary corporate governance, and we believe our AMEX listing
will positively impact these significant interests." Ms. Wang
stated: "Bodisen's management team is delighted to be in the US and
to have the opportunity to meet with our current and prospective
institutional shareholders. As we continue to experience strong
institutional interest in Bodisen, we look forward to another year
of record earnings growth." About Bodisen Biotech, Inc. BODISEN
TARGETS A LARGE AND GROWING MARKET IN CHINA Bodisen is a leading
manufacturer of environmentally friendly bio fertilizer products
serving the needs of China's 900 million farmers. We engage in
research, manufacturing and marketing of proprietary technology
based agricultural products targeting China's $17 billion per year
fertilizer industry. BODISEN IS A FAST GROWING AND HIGHLY
PROFITABLE COMPANY: Selected Second Quarter 2005 Results Compared
to the Same Period in 2004: * Basic earnings per share of $0.18
(fully diluted: $0.17), an increase of 50% for basic earnings per
share and 42% for fully diluted; * Revenue of $8,416,805, an
increase of 99%; Net income of $2,692,014, an increase of 48%; *
Gross profit of $3,255,664, an increase of 64% Selected First Half
2005 Results Compared to the Same Period in 2004 * Revenue of
$13,118,480, an increase of 104% * Net income of $3,488,746, an
increase of 55% * Gross profit increased 72% compared to the six
month period ended June 30, 2004 * Basic earnings per share of
$0.23 (fully diluted: $0.22), an increase of 53% for basic earnings
per share and 47% for fully diluted BODISEN FACES FAVORABLE MARKET
ENVIRONMENT IN CHINA We are a unique company in a favorable market
environment. China exports many things to the world marketplace;
however is one of the largest importers of grains and foods in the
world. Hundreds of millions of Chinese depend on imported grains to
support higher demand for meat and poultry which are fed with
imported grains. The Chinese government has mandated that farmers
increase crop yields to decrease the nation's dependence on foreign
imports. Moreover, there is growing emphasis on the need for
"green" fertilizers that restore the soil, rather than deplete it.
BODISEN HAS A FULL LINE OF PRODUCTS THAT EFFECTIVELY ADDRESS
COMPLETE PLANTING NEEDS OF CHINESE FARMERS With over 60 products
and approximately 600 national distribution centers and growing,
Bodisen has experienced rapid growth in recent years. Bodisen's
products are developed by company scientists in collaboration with
University laboratories. Our products address grains, vegetables,
fruit crops and have been proven to increase yields by 10% to 35%
while 100% environmentally friendly. Our products substantially
improve the lifestyles of the 900 million Chinese farmers whose
livelihood are solely dependent upon their crop yields. EARNINGS
GUIDANCE FOR YEAR 2005 Bodisen affirmed fiscal 2005 (December
yearend) guidance for earnings of approximately $8 million
(including 1Q05 one time financing related charge), or
approximately 50 cents per share, on revenue of approximately $28
million. Guidance does not include positive impact from increased
sales channels and further expansion of manufacturing capacities,
as a result of the Company's planned dual listing before yearend on
the AIM market of the London Stock Exchange raising up to 10
million British Pound (US$18 million) through placement of new
shares (Broker: UK investment bank Charles Stanley; Reporting
accountant: Deloitte & Touche). 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. DATASOURCE: Bodisen Biotech, Inc.
CONTACT: Bodisen Biotech, Inc., Investor Relations,
+1-212-566-3503, Web site: http://www.bodisen.com/
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