Deyu Agriculture Corp. (DEYU 4.00, +0.49, +13.96%) , a vertically integrated producer, processor, marketer and distributor of organic and other agricultural products made from corn and grains, provided its revenue and earnings outlook for the fourth quarter and fiscal year ending December 31, 2010.
For the fourth quarter of 2010, the Company expects revenue to be in the range of $31.5 to $35.0 million and net income available to common stockholders to be in the range of $3.5 to $4.5 million.
For the fiscal year ending December 31, 2010, the Company expects revenue to be in the range of $85.4 to $88.9 million and net income available to common stockholders to be in the range of $11.0 to $12.0 million.
"Our expected strong results for the quarter are due to the combination of higher sequential and year-over-year corn and grain volumes and the addition of revenues from our recent agreements with Deyufarm Innovation Food Co.,"said Mr. Jianming Hao, Chairman and Chief Executive Officer of Deyu Agriculture. "As 2010 comes to a close and we look ahead to fiscal year 2011, we expect our growth to be driven by the launch of a wide range of branded instant organic grain products including instant grain noodles, ready-to-eat grain rice, instant grain beverages and instant grain soups. As Chinese consumers are becoming increasingly health and nutrition conscious, demand for high quality organic grain food is growing rapidly. In addition, we expect to continue to grow our corn products segment as demand remains strong from our existing customer base."
"Overall, we are optimistic about our business prospects and look forward to capitalizing on the attractive growth opportunities in the markets we serve," concluded Mr. Hao.
About Deyu Agriculture Corp.
Deyu Agriculture Corp. is a vertically integrated producer, processor, marketer and distributor of organic and other agricultural products made from corn and grains operating in the Shanxi Province of the People's Republic of China. Deyu has access to over 100,000 acres of farmland in the Shanxi Province for breeding, cultivating, processing, warehousing, and distributing grain and corn products. Deyu has an extensive retail distribution network of more than 8,500 retail stores across China. www.deyuagri.com