ONE Bio, Corp. ("ONE" or the "Company") (OTCBB: ONBI), an
innovative company utilizing green process manufacturing to produce
raw chemicals and herbal extracts, natural and health supplements
and organic products, announces unaudited results for the third
quarter and year-to-date (YTD) ended September 30, 2010. Summary of
financial results include the following:
Revenue for the three months ended September 30, 2010 reached
$13,504,890, compared to $4,157,806 for the three months ended
September 30, 2009 (an increase of 225%), bringing revenue for the
nine months ended September 30, 2010 to $37,347,194 compared to
$8,625,175 for the same period last year (an increase of 333%).
Net income for the three months ended September 30, 2010 reached
$1,912,286, compared to $849,970 for the three months ended
September 30, 2009 (an increase of 125%), bringing net income for
the nine months ended September 30, 2010, to $5,898,845 compared to
$2,072,065 for the same period last year (an increase of 185%).
The increase in revenue and net income in the third quarter of
2010 is primarily attributable to the acquisitions the Company
completed during the third quarter of 2009 and the increase in
demand for the Company's chemical and herbal extracts and organic
products.
Earnings per share for the three months ended September 30, 2010
reached $0.31 ($0.29 on a fully diluted basis), compared to $0.18
($0.17 on a fully diluted basis) for the three months ended
September 30, 2009 bringing earnings per share for the nine months
ended September 30, 2010 to $0.98 ($0.93 on a fully diluted basis)
compared to $0.44 ($0.43 on a fully diluted basis) for the same
period last year.
Three Months ended Nine Months ended
September 30, September 30,
------------------------ ------------------------
2010 2009 2010 2009
Revenues $13,504,890 $ 4,157,806 $37,347,194 $ 8,625,175
Cost of
sales 8,484,199 2,068,381 23,287,108 3,909,654
----------- ----------- ----------- -----------
Gross
profits 5,020,691 2,089,425 14,060,086 4,715,521
----------- ----------- ----------- -----------
Operating
expenses
G&A
expenses 1,436,565 428,220 3,695,867 923,031
R&D
expenses 73,248 126,625 186,856 199,664
Selling &
marketing
expenses 380,775 43,543 590,898 120,100
1,890,588 598,388 4,473,621 1,242,795
----------- ----------- ----------- -----------
Income from
operations 3,130,103 1,491,037 9,586,465 3,472,726
Interest and
financing
expense (172,689) (53,575) (546,979) (53,575)
Interest
income 9,316 1,693 21,935 3,365
Other
income/
(expense) (231,871) 10,105 (592,503) 1,699
----------- ----------- ----------- -----------
Income
before
income
taxes 2,734,859 1,449,260 8,468,918 3,424,215
Provision
for income
taxes (710,510) (396,033) (2,214,710) (912,406)
----------- ----------- ----------- -----------
Net income 2,024,349 1,053,227 6,254,208 2,511,809
non-
controlling
interest (112,063) (203,257) (355,363) (439,744)
----------- ----------- ----------- -----------
Net income
attributable
to Company $ 1,912,286 $ 849,970 $ 5,898,845 $ 2,072,065
=========== =========== =========== ===========
Earnings per
share
- Basic $ 0.31 $ 0.18 $ 0.98 $ 0.44
=========== =========== =========== ===========
- Diluted $ 0.29 $ 0.17 $ 0.93 $ 0.43
=========== =========== =========== ===========
"Third quarter results have met our expectations. Asia's robust
economic growth continues to fuel demand for our products," stated
Marius Silvasan, ONE's CEO. "The third quarter is typically our
second strongest quarter with fourth quarter being our strongest.
We foresee continued improvements in our operating results in the
fourth quarter," added Silvasan.
About ONE Bio, Corp. ONE Bio, Corp.
("ONE") (OTCBB: ONBI) (www.onehcorp.com) headquartered in Miami,
FL, is an innovative company utilizing green process manufacturing
to produce raw chemicals and herbal extracts, natural supplements
and organic products. ONE is focused on capitalizing on the rapidly
growing markets of the Asia Pacific region. Key products include
widely recognized Solanesol, CoQ10, Resveratrol and 5-HTP, organic
fertilizers, and organic bamboo health food and beverages. ONE's
growth plan targets an aggressive acquisition driven strategy
supported by strong organic growth. Through ONE, small private
companies gain access to capital, experienced management and
strategic insight. ONE builds strong synergies amongst all
subsidiaries to enhance shareholder value. ONE is working with each
subsidiary to promote organic and acquisition driven growth.
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"). ONE
Bio, Corp. 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 ONE Bio, Corp. does not undertake to update forward-looking
statements to reflect circumstances or events that occur after the
date the forward-looking statements are made.
Company Contact: Jeanne Chan Senior VP Tel. +888-676-4445
jchan@onehcorp.com Contact: Investor Relations & Corporate
Communications 888-676-4445 ir@onehcorp.com
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