Bodisen Biotech Reports Earnings Per
Share of $0.33 for 2004 and a 155% Increase in Net
Thursday March 31, 4:18 pm
NEW YORK--(BUSINESS WIRE)--March 31, 2005--Bodisen Biotech,, Inc.
(stock symbol: BBOI, website: /)
announced today that it recorded substantial growth in earnings from
the production and sale of its organic fertilizer and pesticide
products in 2004. The following are some of the key financial
highlights for the year ended Dec. 31, 2004 from the company's
annual report filed with the SEC today:
- Revenues of $16,225,896, an increase of 66% compared to the
year ended Dec. 31, 2003
- Net Income of $5,027,403, an increase of 155% compared to the
year ended Dec. 31, 2003
- Gross Profit increased 114% compared to the year ended Dec.
- Gross Margin increased to 40.5% compared to the year ended
Dec. 31, 2003
- Earnings Per Share of $0.33, an increase of 154% compared to
the year ended Dec. 31, 2003
Bodisen generated revenues of $16,225,896 for the year ended Dec.
31, 2004, reflecting an increase of $6,442,112 compared to
$9,783,784 for the year ended Dec. 31, 2003. The growth in revenue
was primarily attributable to the success of Bodisen's marketing
efforts, which resulted in Bodisen attracting a greater number of
new contracts as well as retaining existing customers.
The company also reported net income of $5,027,403 for the year
ended Dec. 31, 2004, which reflects an increase of $3,057,042 from
$1,970,361. The increase in net income resulted from the substantial
growth in sales of organic fertilizer products, higher profit
margins and the low operating costs in China.
Bodisen achieved a gross profit of $6,571,931 for the year ended
Dec. 31, 2004 representing an increase of $3,494,229 compared to
$3,077,702 for the year ended Dec. 31, 2003. Gross margin, as a
percentage of revenues, increased to 40.5%, from 31.46% for the year
ended Dec. 31, 2003. The increase in gross margin was attributable
to the price increase in Bodisen's compound fertilizer product by
10%. Bodisen's compound fertilizer products constitute 60% of total
Ms. Qiong Wang, Chairman and CEO of Bodisen Biotech commented:
"We are very pleased with the performance and development of our
company in 2004. The results clearly demonstrate the significant
increase in demand for organic fertilizers in China and emphasize
that Bodisen's brand name and products now have become the first
choice for farmers. The completion of the new manufacturing facility
in the first quarter of 2005 increases our capacity by 100% and
allows us to meet the growing demand from farmers in China for our
Utilizing proprietary technologies, Bodisen sells over 60
packaged products in 3 product categories: Organic Compound
Fertilizer; Organic Liquid Fertilizer; and Pesticides &
Insecticides. Bodisen's organic fertilizers can be absorbed by
plants within 48 hours while enriching soil conditions without the
damaging effects associated with chemical fertilizers.
About Bodisen Biotech, Inc.
Bodisen is headquartered in Shaanxi, China, an agricultural hub
of China and the economic gateway to the western regions of China.
The Bodisen brand is a highly respected organic brand in China. Its
"green" products support the mandate of the Chinese national
government to increase crop yields for the purpose of decreasing
China's dependency on food imports.
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.
Bodisen Biotech, Inc.
Source: Bodisen Biotech, Inc.