ONE Bio, Corp., an innovative company utilizing green process manufacturing to produce raw chemicals and herbal extracts, natural and health supplements and organic products, announced results for the first quarter of 2010.
First Quarter of Year 2010 Results:
First quarter 2010 revenue was up 386% to $11,162,507 compared to $2,297,621 for the same period a year ago. Operating Income was up 154% to $2,892,842 compared to $1,140,223 for the same period last year. Net Income was up 94% to $1,637,072 compared to $842,725 for the same quarter last year. Earnings per share for the first quarter of 2010 reached $0.06 compared to $0.05 for the same period in 2009.
Non-reoccurring expenses, expenses associated with the $3 million funding closed during Q1 and employee option expenses negatively impacted net income by $245,737 during the quarter. Gross margin was 36.8% and income from operations margin remained strong at 25.9% during the quarter.
"We are very pleased with our first quarter results. These results reflect strong organic growth and the contribution of our recently completed acquisitions. Asia's robust economic growth continues to fuel demand for our products. We are focused on highly sought-after organic products, herbal and chemical extracts and natural and health supplements. We have put in place a solid foundation for strong organic growth and continue to seek strategic acquisitions," stated Marius Silvasan, ONE's CEO.
"The increase in our ownership position in one of our key subsidiary, which occurred April 19, 2010, will result in a decrease in the non-controlling interest in future periods further improving our net income and earnings per share. Historically the first quarter is the weakest quarter of the year. We anticipate even stronger results for the remaining three quarters of 2010," added Silvasan.
About ONE Bio, Corp.
ONE Bio, Corp. (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.