FORT LAUDERDALE, FL and QUFU, CHINA, Mar 20, 2006 (MARKET WIRE via COMTEX) -- Sunwin International Neutraceuticals, Inc. (SUWN) , an industry leader in the production and distribution of Chinese herbs, veterinary medicines and low calorie natural sweetener (Stevia) in China, posted financial results for the third quarter ended January 31, 2006 of fiscal year 2006.
The Company recorded revenues of $3.841 million for the third quarter ended January 31, 2006; a 42% increase from $2.705 million recorded for the same period in fiscal 2005. Net income surged to approximately $877,588, a 350% increase over the $193,698 in net income reported for the same period in fiscal year 2005. This translates to an EPS of $0.02 for the third quarter. For more details about Sunwin's financial performance, please review the 10-QSB filed with the United States Securities and Exchange Commission.
As of the third quarter of the fiscal year 2006, the Company had in excess of $3.6 million in cash and cash equivalents. Shareholder equity increased to $10.355 million, its highest level ever, a 125% increase from $4.552 million recorded for the same period in fiscal year 2005.
Laiwang Zhang, Chairman and President of Sunwin, commented, "We are very pleased with our financial performance in the third quarter for fiscal 2006. While we expect to maintain our recent growth in revenues and earnings in our core businesses, we will continue to evaluate new acquisition candidates. Our growth strategy will include both internal growth and external acquisitions in the coming fiscal quarters. Management is very optimistic about our prospects, as we expect to substantially increase our sales and profit margins in all of the three divisions in the coming fiscal years."
About Sunwin International Neutraceuticals, Inc.
Sunwin International Neutraceuticals, Inc., "Sunwin," (SUWN) is engaged in the areas of essential traditional Chinese medicine, 100% organic herbal medicine, neutraceutical products, natural sweetener (Stevioside), and animal medicine prepared from 100% organic herbal ingredients. As an industry leader in agricultural processing, Sunwin has built an integrated global firm with the sourcing and production capabilities to meet the needs of consumers throughout the world. Sunwin also makes such value-added products as specialty veterinary food ingredients and specialty feed ingredients. The Sunwin family works closely with consumers to provide a quality, value, and a hybrid mix of agricultural products and services that meet growing demand. In 2002, Sunwin was recognized as one of the first 2,000 state-level companies that China authorized as the most important innovative high-tech pioneer businesses by the Chinese central government. In 2002, Sunwin was awarded as one of 2002 state-level biological product manufacturers in China. In 2003, Sunwin ranked as one of the top 50 companies of China Animal Related Health Care Product Pharmaceutical Industry. In 2003, Sunwin received award of Shandong Top-Ten Innovative, High-Tech Businesses by the Province Government of Shandong. For more info about Sunwin, please visit http://www.sunwin.biz
Safe Harbor Statement
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