Health & Fitness
Health and Fitness
Health and Fitness
Tue, May 18, 2010 
MIAMI, FL--(Marketwire - May 18, 2010) - Green Planet Bioengineering CO., LTD. (
First Quarter 2010 Results:
First quarter 2010 revenue was up 42% to $3,259,429 compared to $2,297,621 for the same period a year ago. Operating Income was up 8% to $1,233,651 compared to $1,140,223 for the same period last year. Net Income was up 12% to $944,748 compared to $842,725 for the same quarter last year. Earnings per share for the first quarter of 2010 remained unchanged at $0.05 compared to the same period 2009.
| Three months ended March 31, | ||||||||
| 2010 | 2009 | |||||||
| Sales revenue | $ | 3,259,429 | $ | 2,297,621 | ||||
| Cost of sales | (1,469,280 | ) | (852,686 | ) | ||||
| Gross profit | 1,790,149 | 1,444,935 | ||||||
| Operating expenses | ||||||||
| Administrative expenses | 321,799 | 212,215 | ||||||
| Research and development expenses | 60,388 | 36,466 | ||||||
| Selling expenses | 174,311 | 56,031 | ||||||
| Total operating expenses | 556,498 | 304,712 | ||||||
| Income from operations | 1,233,651 | 1,140,223 | ||||||
| Interest income | 1,569 | 249 | ||||||
| Other income | 90 | - | ||||||
| Finance costs | (36,709 | ) | (88 | ) | ||||
| Income before income taxes and minority interest | 1,198,601 | 1,140,384 | ||||||
| Income taxes | (253,853 | ) | (297,659 | ) | ||||
| Net income | $ | 944,748 | $ | 842,725 | ||||
"We are pleased with our first quarter results. Our two key raw extracts 5-HTP and Resveratrol continued to drive sales. This year we are focused on increasing distribution in China and abroad of our over-the-counter health products and wholesale of raw materials," stated Min Zhao, Company CEO. "We anticipate continued strong performance throughout 2010," added Mr. Zhao.
About Green Planet
Green Planet Bioengineering CO., LTD. ("Green Planet") ([ http://www.greenplanetbio.com ]) (
This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Green Planet Bioengineering, Co., Ltd. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful integration of diversified growth companies, impact of the company's expansion plan, and new business development success, future financial results, development and acquisition of new product lines and services, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements. These risks include, but are not limited to: failure to manage operating expenses or integrate new companies and/or technologies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company's regular filings with the U.S. Securities and Exchange Commission. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made and Green Planet Bioengineering, Co., Ltd. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
