SOURCE: Sunwin International Neutraceuticals, Inc.
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March 19, 2008 08:00 ET
Sunwin International Neutraceuticals Reports Fiscal Third Quarter Results for 2008
Revenue and Earnings Increase Substantially From Same Period in 2007
QUFU, CHINA--(Marketwire - March 19, 2008) - Sunwin International Neutraceuticals, Inc.
(OTCBB: SUWN), a leader in the production and distribution of Chinese
herbs, veterinary medicines and one of the world's leading producers of all
natural, zero calorie Stevia in China, today announced its third quarter
results for fiscal 2008 ended January 31, 2008. The Company reported
revenues of approximately $6.61 million and net income of $632,946 as
compared to revenues of approximately $3.79 million and net income of
$73,942 for the same period in 2007. Revenues for the first nine months of
2008 were $16,513,913, up over 42% from the $11,562,948 recorded in the
same period in 2007. Net income increased by over 50% in the first nine
months of 2008 reaching $1,074,563, up from 484,838 in 2007.
Overall performance at Sunwin increased sequentially and quarter over
quarter in all major categories including veterinary medicine sales,
Chinese medicine sales as well as sales of bulk Stevia. Management
believes the measures taken in 2007 to expand capacity and develop new
veterinary and Chinese medicine products have begun to yield increased
sales and earnings in this quarter and will continue to build in the coming
quarters. The company has continued to invest in its OnlySweet branding
campaign through its Sunwin USA subsidiary and believes that the continued
exposure of the brand in major chains will benefit Sunwin if and when
Stevia receives approval for use as a sweetener or food additive in the
U.S. Worldwide demand for Stevia continues to increase and management
believes Sunwin is well positioned to see continued growth in Stevia sales.
Laiwang Zhang, President and Chairman of Sunwin International
Neutraceuticals, commented, "In the third quarter we are beginning to see
the fruits of our investment in production and branding of our Stevia
products as well as the introduction of new veterinary medicines and feeds.
We are continuing our efforts to expand all areas of operation and remain
very optimistic about our Sunwin USA subsidiary and our OnlySweet product
line in North America. As we head into the last quarter of 2008,
management believes that Sunwin is positioned to experience continued
growth as well as record results in 2009."
About Sunwin International Neutraceuticals, Inc.
Sunwin International Neutraceuticals (OTCBB: SUWN) engages in the areas of
essential traditional Chinese medicine, zero calorie natural sweeteners
(Stevia), and veterinary medicines and feeds 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. For more info about Sunwin,
please visit http://www.sunwin.biz.
About OnlySweet
OnlySweet is a proprietary product blended with Stevioside (Stevia), an
all natural, zero calorie, naturally sweet dietary supplement, extracted
from the leaves of the Stevia Rebaudiana plant. OnlySweet is blended and
packaged in the United States, and is distributed by Sunwin USA, Inc. in
over 3500 grocery stores in the United States. Stevia is used as a food
additive in a wide variety of products, such as beverages, pastries, dairy
products, confections and medicinal products in Japan, China, Malaysia,
Israel, South Korea, Brazil and other countries. In the United States,
OnlySweet is a dietary supplement sold in boxes of 100 and 200 packets. It
has zero calories and does not significantly alter blood sugar levels.
OnlySweet is unique because its Stevia only comes directly from Sunwin
International Neutraceuticals (OTCBB: SUWN), one of the world's largest
Stevia manufacturers, assuring consistency and purity.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations or beliefs,
including, but not limited to, statements concerning the Company's
operations, financial performance and, condition. For this purpose,
statements that are not statements of historical fact may be deemed to be
forward-looking statements. The Company cautions that these statements by
their nature involve risks and uncertainties, and actual results may differ
materially depending on a variety of important factors, including, but not
limited to, the impact of competitive products, pricing and new technology;
changes in consumer preferences and tastes; and effectiveness of
marketing; changes in laws and regulations; fluctuations in costs of
production, and other factors as those discussed in the Company's reports
filed with the Securities and Exchange Commission from time to time. In
addition, the company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after the
date hereof.