Deer Consumer Products, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2012; Affirms Earnings Guidance for the Year 2012
May 10, 2012 at 06:26 pm IST
Share
Deer Consumer Products, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company announced revenue of $49,869,103 compared to $34,676,146 for the same period of last year. Income before income taxes was $10,660,556 compared to $7,006,228 for the same period of last year. Net income was $7,826,088 or $0.23 per basic and diluted share compared to a net income of $5,793,946 or $0.17 per basic and diluted share for the same period of last year. Income from operations was $10,153,549 compared to $6,098,882 a year ago. Net cash provided by operating activities was $3,479,937 compared to net cash used in operating activities of $10,872,527 for the same period of last year. Acquisition of property & equipment was $28,801 compared to $728,682 for the same period of last year. The increase in revenues resulted from continued expansion of sales in the China domestic market.
For the year 2012, the company anticipates revenues from the high margin China domestic sales will continue. The company affirms its 2012 revenue guidance of between $270 and $290 million, net income guidance of between $45 million and $47 million, and targets EPS (Earnings per Share) between $1.37 and $1.42.
Deer Consumer Products, Inc. is a China-based designer, manufacturer and seller of small home and kitchen electric appliances. The Company develops, promotes, manufactures and sells a range of products, including blenders, juicers and soy milk makers. The Company's product lines include small household appliances and personal care products, such as blender, chopper, juicer, food processor, meat grinder, commercial blender, Ice shaver, chocolate fountain, ice maker, coffee maker, waste disposal, soy milk maker, egg boiler, dehumidifier, electric kettle, rice cooker, stove top and microwave oven. In China, the Companyâs products are sold primarily under the Deer brand name, as well as under one store brand for a retailerâs private-label programs. The Companyâs products for overseas consumer products companies are sold under various brand names, including Black & Decker and Betty Crocker Kitchens, as well as store brands for a retailerâs private-label programs.
Deer Consumer Products, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2012; Affirms Earnings Guidance for the Year 2012