Revenues for the quarter increased 44.4% to $10.9 million, as compared to $7.5 million reported in the comparable quarter of 2012.
Net income increased 54.4% to $5.7 million, or $0.36 per share, compared to net income of $3.7 million, or $0.34 per share, reported in the year ago period.
For the nine months ended September 30, 2013, Nutrastar reports revenues of $30.2 million, a 23.5% increase compared to $24.4 million in the comparable nine months of 2012.
Net income was $15.1 million, an increase of $30.7 million, or $0.94 per share, as compared to $11.6 million, or $0.89 per share, in the comparable nine months of last year.
Nutrastar CEO Lianyun Han noted contributing factors to the strong quarterly and nine-month performance.
“With the production means necessary to expand our market, we are focused on further extending our brand awareness and product offering to better and more comprehensively serve our customers,” Han stated in the news release. “Prior launched marketing campaigns are working to promote the health benefits of our premium consumer products, especially our on-the-go functional health beverage and instant soluble drink. We also began testing sales of our instant soluble drink at the Bao Feng specialty drug store in Harbin for an initial trial period of up to six months that began this month. … Depending on how sales do in the trial store, this may or may not be a channel for us moving forward. On the new product front, we have started developing Cordyceps capsules and tablets, designed to complement our current premium consumer product offering and cater to our everyday customer looking for an on-the-go health supplement similar to other vitamin-type supplements. It’s estimated that the product development process for both capsules and tablets will take approximately 12 — 18 months to complete.”
Han said the company is on track with previously issued guidance for full-year 2013.
“With consumer demand for our premium products remaining strong and persistent, particularly among the wealthier and aging population, we are quite confident in our ability to meet our full year revenue guidance and continue to grow thereafter,” said Han. “We look forward to updating our shareholders and the investment community on our progress in these areas and more in the time ahead.”
For more information visit www.nutrastarintl.com
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