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Bodisen Biotech Expects to Report Record Year-over-Year
Results for 2005
Thursday March 16, 8:00
am ET
Company Will Report
Fourth Quarter and Full Year 2005 Financial Results During Week of
March 27, 2006
NEW YORK--(BUSINESS WIRE)--March 16, 2006--Bodisen Biotech, Inc.,
(AMEX:BBC, London AIM:BODI, website: /) the
first China based environmentally friendly bio fertilizer company
listed on a US stock exchange, and dual listed in London, announced
today that it expects to report record year-over-year financial
results for the year ended December 31, 2005. The Company expects to
report its financial results for the fourth quarter and full year
ended December 31, 2005 during the week of March 27,
2006.
For the year ended December 31, 2004, the company
recorded total revenues of $16.2 million and diluted earnings per
share of $0.33.
Karen Qiong Wang, chairman and chief executive officer, said: "In
2005, Bodisen continued to successfully execute on its growth plan.
By the end of the September quarter, we already exceeded our total
2004 revenues by 46% and earnings per share by 36%. At the same
time, we made progress in expanding our operations to meet the
growing demand for high output, high quality, and
environmentally-friendly organic fertilizers to support China's
expanding agricultural industry. We look forward to reporting on our
audited full year results for 2005 later this month."
About Bodisen Biotech, Inc.
A Delaware company, Bodisen is headquartered in Shaanxi, China's
agricultural hub. The Bodisen brand is a highly recognized
fertilizer brand in China. It's environmentally friendly "green"
products support the mandate of the Chinese government to increase
crop yields for the purpose of decreasing China's dependency on food
imports. Utilizing proprietary agricultural technologies, Bodisen
sells over 60 packaged products, broken down into 4 product
categories: Organic Compound Fertilizer; Organic Liquid Fertilizer;
Pesticides & Insecticides, and agricultural raw materials.
Bodisen's organic fertilizers can be absorbed by plants within 48
hours and enrich soil conditions without the damaging effects
associated with chemical fertilizers. These products address grains,
vegetables, and fruit crops and have been proven to increase crop
yields by 10% to 35% while being 100% environmentally friendly.
Among China's population of 1.3 billion, approximately 900 million
are farmers whose incomes depend on their crop yields. With
approximately 600 (and growing) nationwide distribution centers,
Bodisen has experienced rapid growth in its existing business.
BODISEN HAS RESEARCH COVERAGE IN NEW YORK AND IN LONDON
Wall Street firm New York Global Securities, Inc. ("NYGS", http://www.newyorkglobal.com/)
provides research coverage for Bodisen. NYGS' parent company New
York Global Group (http://www.nyggroup.com/) has a
significant China presence and is one of the largest US firms in
China in the financial services sector. London investment bank
Charles Stanley (http://www.charles-stanley.co.uk/),
a member of the London Stock Exchange since 1852, provides research
coverage for Bodisen in London.
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.
Contact:
The Piacente Group, Inc.
Investor Relations:
Debra Chen, 212-481-1907
debra@thepiacentegroup.com
________________________________________
Source:
Bodisen Biotech, Inc. |
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