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, today announced audited financial results for
the fourth quarter and fiscal year ended December 31, 2010. A
summary of financial results includes the following:
Revenue for the three months ended December 31, 2010 reached
$14.9 million, an increase of 11% compared to $13.4 million for the
three months ended December 31, 2009. Revenue for the fiscal year
ended December 31, 2010 reached $52.3 million, an increase of 137%
compared to $22.1 million for the same period last year.
Net income for the three months ended December 31, 2010 reached
$2.8 million, an increase of 2.9% compared to $2.7 million for the
three months ended December 31, 2009. Net income for the fiscal
year ended December 31, 2010 reached $8.7 million, an increase of
82% compared to $4.8 million for the same period last year.
The increase in revenue and net income for fiscal 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.
Gross profit for the three months ended December 31, 2010 was
$6.1 million, as compared to $5.3 million for the three months
ended December 31, 2009. Gross margin was 40.6% compared to 39.2%
for the fourth quarter of 2009. Gross profit for fiscal 2010 was
$20.1 million, as compared to $10.0 million in the previous year.
Gross margin was 38.5% compared to 45.2% for 2009. The decrease in
gross margin for fiscal 2010 was primarily due to a change in the
product mix and new product launches. As the Company reaches
economies of scale on the new products launched during 2010, the
Company anticipates gross margin to increase to over 40% for fiscal
2011.
Operating income for the three months ended December 31, 2010
reached $4.1 million, an increase of 2.7% compared to $3.9 million
for the three months ended December 31, 2009. Operating income for
2010 reached $13.7 million, up 83.4% from $7.5 million in 2009.
Operating expenses for 2010 totaled $6.4 million, up 155.2% from
$2.5 million in the same period a year ago. The increase in
operating expenses was primarily due to the full year's inclusion
of revenues from the Company's Organic Products and Trade Finance
Solutions divisions.
Earnings per share for the three months ended December 31, 2010
reached $0.45 ($0.43 on a fully diluted basis), compared to $0.51
($0.50 on a fully diluted basis) for the three months ended
December 31, 2009. Earnings per share for the fiscal year ended
December 31, 2010 reached $1.43 ($1.35 on a fully diluted basis)
compared to $0.95 ($0.93 on a fully diluted basis) for the same
period last year.
As of December 31, 2010, cash and cash equivalents totaled $10.7
million, working capital totaled $12.8 million, and shareholders'
equity was $42.1 million.
Three Months ended Year ended
December 31, December 31,
-------------------------- --------------------------
2010 2009 2010 2009
Revenues $ 14,949,009 $ 13,448,044 $ 52,296,203 $ 22,073,219
Cost of sales 8,883,654 8,179,375 32,170,762 12,089,029
------------ ------------ ------------ ------------
Gross profits 6,065,355 5,268,669 20,125,441 9,984,190
------------ ------------ ------------ ------------
Operating expenses
General and
administrative
expenses 1,596,041 187,960 5,291,908 1,110,991
Research and
development
expenses 73,022 178,833 259,878 378,497
Selling and
marketing
expenses 301,208 915,849 892,106 1,035,949
------------ ------------ ------------ ------------
1,970,271 1,282,642 6,443,892 2,525,437
------------ ------------ ------------ ------------
Income from
operations 4,095,084 3,986,027 13,681,549 7,458,753
Other (expense)
income (327,663) 2,040 (1,445,210) (46,471)
------------ ------------ ------------ ------------
Income before
income taxes 3,767,421 3,988,067 12,236,339 7,412,282
Provision for
income taxes (1,066,453) (1,114,903) (3,281,163) (2,027,309)
------------ ------------ ------------ ------------
Net income 2,700,968 2,873,164 8,955,176 5,384,973
Non-controlling
interest 76,799 (172,415) (278,564) (612,159)
------------ ------------ ------------ ------------
Net income
attributable to
Company $ 2,777,767 $ 2,700,749 $ 8,676,612 $ 4,772,814
============ ============ ============ ============
Earnings per share
- Basic $ 0.45 $ 0.51 $ 1.43 $ 0.95
============ ============ ============ ============
- Diluted $ 0.43 $ 0.50 $ 1.35 $ 0.93
============ ============ ============ ============
Weighted average
number of shares
outstanding :
- Basic 6,056,057 5,011,925 6,056,057 5,011,925
============ ============ ============ ============
- Diluted 6,423,994 5,117,274 6,423,994 5,117,274
============ ============ ============ ============
"Our fiscal 2010 results met our expectations. Asia's robust
economic growth continues to fuel demand for our products, and we
successfully added several new distributors in the Asian market
during the fiscal year. Our strong organic growth, coupled with the
impacts of two key acquisitions we completed in the third quarter
of 2009, enabled us to deliver record results for fiscal 2010,"
stated Marius Silvasan, ONE's CEO. "In 2011, we remain focused on
the continued execution of our business strategy, which calls for
continued robust organic growth to be supplemented by key strategic
acquisitions."
INVESTOR CALL AND WEBCAST
Friday, April 1st, 2011 at 9.00 a.m. EDT
Investors can access the call as follows:
Call-in Number:
U.S./Canada 877-941-2322
International 480-629-9715
Conference ID: 4427566
Instructions: All parties should dial 1-877-941-2322 or
1-480-629-9715 approximately 10 minutes prior to the conference
start time and ask for the ONE Bio, Corp. Fourth Quarter and Fiscal
2010 Earnings Conference Call, or Conference ID 4427566. Callers
will be asked to provide their name, company name, phone number and
email address. They will then be placed on a brief music hold until
the call is ready to begin.
A replay of the call will be available for two weeks from 12:00
noon EDT on April 1, 2011, until 11:59 p.m. EDT on April 15, 2011.
The number for the replay is 877-870-5176, or 858-384-5517 for
international calls; the pass code for the replay is 4427566. In
addition, a recording of the call will be available via the
Company's website at http://www.onehcorp.com for one year.
Internet Webcast: http://viavid.net/dce.aspx?sid=00008365
This event will also play on ViaVid.net as a secondary location.
A default message will play from these links until the event goes
live. This message asks viewers to check back at a later time. On
the day of the event, a ViaVid technician will dial into the event
call 15 minutes prior to the start time to establish the webcast
line. To accommodate any viewers tuning in early, ViaVid will begin
streaming live with a music hold 10 minutes prior to the start
time.
About ONE Bio, Corp.
ONE Bio, Corp. ("ONE") (OTCBB: ONBI) (www.onehcorp.com),
headquartered in Miami, FL, is an innovative company utilizing
patented green process manufacturing to produce raw chemicals and
herbal extracts, natural supplements and organic products. ONE is
focused on the Asia-Pacific region and the United States. Key
products include widely recognized Solanesol, CoQ10, Resveratrol
and 5-HTP, organic fertilizers, and organic bamboo health food and
beverages. ONE has experienced solid organic growth driven by a
robust demand for its products in China, Japan and the United
States.
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 Email:
jchan@onehcorp.com Investor Relations Contact: Investor Relations
& Corporate Communications Tel: 888-676-4445 Email:
ir@onehcorp.com Dave Gentry U.S. RedChip Companies, Inc. Tel:
+1-800-733-2447, Ext. 104 Email: info@redchip.com
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