MIAMI, FL--(Marketwire - 03/31/10) - ONE Bio, Corp. ("ONE" or the "Company") (OTC.BB:ONBI), 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 4th quarter and full year ended December 31, 2009.
Fourth Quarter and Full Year Results:
Fourth quarter 2009 revenue was up 364% to $13,448,044 compared to $2,900,245 for the same period a year ago. Operating Income was up 305% to $3,986,037 compared to $984,677 for the same period in 2008. Net Income was up 344% to $2,873,164 compared to $647,590 for the same quarter in 2008. Earnings per share for the fourth quarter of 2009 reached $0.10 compared to $0.09 for the same period in 2008.
Full year 2009 revenue reached $22,073,219 compared to $10,401,530 for the 2008 fiscal period, an increase of 112%. Full year 2009 operating income and net income reached $7,458,753 and $5,384,973 respectively compared to $4,651,786 and $3,350,299 respectively for fiscal 2008, an increase of 60% and 61%.
Pro Forma Results with Recently Completed Acquisitions:
ONE completed the acquisition of its current operating businesses during 2009. As a result only partial operating results from the acquired businesses are reflected in the ONE's 2009 financial results. In an effort to reflect a more accurate picture of the actual financial performance of the acquired businesses, ONE has prepared pro-forma financial results on a consolidated basis showing the performance of its operating businesses as if ONE owned them from 2008 through 2009. Investors can review these results in note #8 to the financial statements recently filed by ONE in its latest 10K.
Performance highlights include:
Full year 2009 (pro-forma) operations generated combined revenues of $39,354,753 compared to $34,839,128 for the 2008 fiscal period, an increase of 13.0%. Full year 2009 (pro-forma) ONE generated operating income and net income of $11,809,223 and $7,952,678 million compared to $10,469,878 million and $7,040,903 million respectively for fiscal 2008, an increase of 12.8% and 12.9%. Pro-forma earnings per share for fiscal 2009 reached $0.27 compared to $0.24 for fiscal 2008.
Additionally, management anticipates further operational improvement as:
Consolidation of recently concluded acquisitions is completed;
Company increases distribution in domestic China and abroad of its recently launched over the counter health products; and
Company completes the acquisition of additional strategically targeted synergistic businesses providing profitability and strong cash flows and further allowing the Company to expand its product portfolio and achieves greater vertical integration.
"Fourth quarter 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. ONE Bio represents a viable alternative to US investors seeking to invest in the growth of the Asia Pacific region but wanting a strong US domestic management team coupled with Asian operational expertise. We have put in place a solid foundation for strong organic growth and continue to seek strategic acquisitions," stated Marius Silvasan, ONE's CEO.
"Our 2009 GAAP results only partly reflect the operational performance of the businesses we acquired during 2009 since for accounting purposes we can only start booking the revenue and benefit of the net income of the companies acquired starting from the date of each acquisition. For this reason we have elected to show our investors pro-forma results which include historical financial performance for each business on a consolidated basis," added Mr. Silvasan.
About ONE Bio, Corp.
ONE Bio, Corp. ("ONE") (OTC.BB:ONBI - News) (http://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.