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Yongye International, AŞ Message Board

  • nypd2726 nypd2726 Jul 19, 2010 8:09 AM Flag

    NEWS!!!!!!!!!!

    "Yongye International Announces Preliminary Second Quarter 2010 Revenue and Updates Guidance



    BEIJING, July 19 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (Nasdaq: YONG) ("Yongye" or the "Company"), a leading manufacturer, developer and distributor of "Shengmingsu" brand plant and animal nutrient products in China, today announced preliminary revenue results for the second quarter ended June 30, 2010, and updated its sales guidance.

    Yongye expects to report preliminary unaudited revenue for the second quarter of 2010 of approximately $89 million, a 93.5% increase from $46 million for the same period last year. For the first half of 2010, approximately 39% of sales came from Guangdong, Henan, Hubei and other provinces in central and southern China that are outside of the five traditionally strong provinces in northern China where the Company's business originated and where the bulk of revenues have historically been generated.

    Yongye also updated its revenue outlook for 2010 and now expects full year 2010 revenue of between $180 million and $185 million, compared with the previously provided guidance of between $160 million and $165 million. The Company plans to provide updated net income guidance when it reports its second quarter financial results in full next month.

    "Our strong second quarter sales and increased revenue guidance reflect the robust demand for our Shengmingsu agricultural nutrient products among rural Chinese farmers," stated Mr. Zishen Wu, Chief Executive Officer. "We are seeing strong sales growth in our traditional provinces as well from the newer Yongye branded stores in central and southern China. This growing demand is a testament to the effectiveness of our product in helping farmers increase crop yields and shorten harvest times, thereby providing them with a compelling return on investment. It also reflects the success of our integrated advertising and promotion campaigns at the national, provincial and village level which ensures that rural farmers continue to respond positively our branding message that Shengmingsu gives them the best value proposition for their plant and animal nutrient needs.


    "We are confident in our ability to continue to grow our business and meet the anticipated demand for our Shengmingsu products. We recently announced a 50% capacity increase in our existing plant nutrient production facility from 10,000 tons to 15,000 tons per annum as a result of streamlining our production process and upgrading our manufacturing equipment. We have been utilizing almost all of this additional production capacity. In addition, we have a new production facility that is scheduled to come online in September that will add an additional 20,000 tons of capacity per year for our liquid plant product and 10,000 tons per year for our powder animal product.

    "Overall, we remain optimistic about our business prospects. We see strong demand for our products and have made the necessary improvements to our business infrastructure and invested in new capacity to ensure that Yongye is positioned to continue to capitalize on the attractive opportunities in the agricultural nutrient space in China."

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    • Good news for sure, but based on how this and other China stock have acted this year, I would not buy this gap up. Let's see if it can hold it's gains for a week or two.

    • Very long yong! Very long yong! Very long yong!

      tin

    • "We are confident in our ability to continue to grow our business and meet the anticipated demand for our Shengmingsu products. We recently announced a 50% capacity increase in our existing plant nutrient production facility from 10,000 tons to 15,000 tons per annum as a result of streamlining our production process and upgrading our manufacturing equipment. We have been utilizing almost all of this additional production capacity. In addition, we have a new production facility that is scheduled to come online in September that will add an additional 20,000 tons of capacity per year for our liquid plant product and 10,000 tons per year for our powder animal product."

    • "Yongye also updated its revenue outlook for 2010 and now expects full year 2010 revenue of between $180 million and $185 million, compared with the previously provided guidance of between $160 million and $165 million. The Company plans to provide updated net income guidance when it reports its second quarter financial results in full next month."

    • "Yongye expects to report preliminary unaudited revenue for the second quarter of 2010 of approximately $89 million, a 93.5% increase from $46 million for the same period last year."