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/C O R R E C T I O N - China Yingxia International, Inc./
NEW YORK
(Map)
-
For more information, please contact:
Joe Levinson
Tel: +1-989-785-0208
------
China Yingxia International Announces 2007 Third Quarter Financial Results Conference Call
-- Third Quarter Revenues Increase 89% to $3.51 Million versus $1.85 Million for Q3 of 2006
-- Third Quarter Net Income Before Taxes Increased 131% to $1.71 Million, versus $0.74 Million for Q3 of 2006
NEW YORK,
Net sales for the third quarter ended
Net income before taxes for the three months ended
On the balance sheet, total assets for the third quarter of 2007 totaled
''We were to pleased with the launch of our soybean product lines during
the third quarter,'' stated
The conference call will take place at
This call is being webcast by ViaVid Broadcasting. The webcast may be accessed at ViaVid's Web site at http://viavid.net/dce.aspx?sid=000048C8 .
About
CHINA YINGXIA INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)
SEPTEMBER 30, 2007
ASSETS
Current assets:
Cash and cash equivalents $ 1,501,901
Account receivables 440,448
Inventory 1,982,501
Other receivables 3,347,094
Advances to suppliers 4,254,468
Advance to affiliate 6,657,858
Loans to related party 1,432,218
Total Current Assets 19,616,487
Property and equipment, net of accumulated
depreciation of $2,996,681 16,675,349
Land use right, net 400,602
Total Assets $ 36,692,438
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,622,516
Unearned revenue 3,337
Taxes payable 29,427
Accrued expenses and other payables 788,618
Total Current Liabilities 2,443,898
Total Liabilities 2,443,898
Stockholders' Equity
Preferred stock, $0.001 par value, 10,000,000
shares authorized; - 0 - shares outstanding
at September, 2007 --
Common stock, $0.001 par value, 100,000,000 shares
authorized; 44,333,987 shares outstanding at
September 30, 2007 44,334
Additional paid in capital 16,620,790
Accumulated other comprehensive income 1,933,256
Statutory reserves 901,463
Retained earnings 14,748,696
Total Shareholders' Equity 34,248,539
Total Liabilities and Stockholders' Equity $ 36,692,438
CHINA YINGXIA INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
Nine-Month Ended Three-Month Ended
September 30, September 30,
2007 2006 2007 2006
Sales $ 10,380,713 $5,308,352 3,513,674 $1,857,392
Cost of Sales 4,003,789 2,194,473 904,605 918,481
Gross Profit 6,376,924 3,113,879 2,609,069 938,911
Operating
Expenses
Research &
Development
Expense 279,286 -- 144,547 --
Selling,
general and
administrative 1,381,388 404,655 753,153 196,712
Operating
income 4,716,250 2,709,224 1,711,370 742,199
Other Income
and Expenses 2,898 (25,245) 2,412 52
Income Before
Income Taxes 4,719,148 2,683,979 1,713,782 742,251
(Benefit)
provision for
Income Taxes -- (1,984,590) -- (2,216,535)
Net Income $4,719,148 $4,668,569 $ 1,713,782 $2,958,786
Income per
common share
Basic $ 0.13 $ 0.41 $ 0.04 $ 0.26
Diluted $ 0.13 $ 0.41 $ 0.04 $ 0.26
Weighted average
common share
outstanding
Basic 35,866,849 11,418,877 40,309,204 11,418,877
Diluted 36,995,845 11,418,877 43,659,377 11,418,877
Safe Harbor Statement
The statements contained herein that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the potential growth of the markets are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this filing, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
For more information, please contact:
Joe Levinson
Tel: +1-989-785-0208
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