SkyPeople Fruit Juice Provides Preliminary 2009 Financial Results and 2010 Guidance
19 Januar 2010 - 2:00PM
PR Newswire (US)
2009 preliminary revenue of $58 to $60 million and net income of
$15 to $16 million 2010 Guidance: Revenues of $92 to $102 million
and net income of $19 to $21 million XI'AN, China, Jan. 19
/PRNewswire-Asia-FirstCall/ - SkyPeople Fruit Juice, Inc. (NYSE
Amex: SPU) ("SkyPeople" or "the Company"), a processor and
manufacturer of concentrated kiwifruit, apple, pear and other fruit
juices and fruit products in China, today announced preliminary
2009 results and provided guidance for 2010. SkyPeople anticipates
revenues of between $58 million and $60 million for the full year
ended December 31, 2009. This represents year-over-year revenue
growth of between 39% to 44%, which was attributed to increased
sales of SkyPeople's proprietary, Hedetang(R)-branded, fruit juice
product line plus sales of fruit concentrate and fresh fruit to its
growing list of China-based food and beverage distributors and
manufacturers. Preliminary 2009 net income is anticipated to be
between $15 and $16 million for the year, representing between 50%
and 60% year-over-year growth. The increase resulted from higher
overall sales, including the Company's Hedetang(R)-branded fruit
juices, for which the first nine months of 2009 yielded average
gross margins of 38%. 2010 Guidance Management is providing revenue
guidance of $92 to $102 million and net income guidance of between
$19 to $21 million for 2010. Growth is expected to be driven by
enhanced distribution of its high-margin Hedetang(R)-branded
juices, capacity expansion and increased orders from domestic and
international customers of concentrates as global markets rebound.
About SkyPeople Fruit Juice, Inc. SkyPeople Fruit Juice, Inc., a
Florida company, through its wholly-owned subsidiary Pacific
Industry Holding Group Co., Ltd., a Vanuatu company, holds 99%
ownership interest in Shaanxi Tianren Organic Food Co., Ltd.
("Shaanxi Tianren"). Shaanxi Tianren is a company organized
according to the laws of the People's Republic of China. Shaanxi
Tianren's main products are concentrated apple, kiwifruit, pear and
other fruit juices for domestic and international consumers. Its
brand, HEDETANG(R), is positioned as a high quality, healthy and
nutritious juice concentrate and clear juice product used both as
an ingredient component in other products and an end-use juice
concentrate product. Shaanxi Tianren utilizes the largest kiwifruit
plantation in China and is a leading producer of concentrated
kiwifruit juice in Asia. For more information, please visit
http://www.skypeoplefruitjuice.com/ . Forward-Looking Statements
This press release contains certain "forward-looking statements"
that involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and the
actual results and future events could differ materially from
management's current expectations. Such factors include, but are
not limited to, the Company's ability to obtain the necessary
financing to continue and expand operations, to market its products
in new markets and to offer products at competitive pricing, to
attract and retain management, and to integrate and maintain
technical information and management information systems, political
and economic factors in the People's Republic of China, compliance
requirement of laws and regulations of the PRC, the effects of
currency policies and fluctuations, general economic conditions and
other factors detailed from time to time in the Company's filings
with the United States Securities and Exchange Commission and other
regulatory authorities. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. For
more information, please contact: COMPANY SkyPeople Fruit Juice,
Inc. Ms. Spring Liu, CFO Tel: +1-818-390-1272 Email: Web:
http://www.skypeoplefruitjuice.com/ INVESTOR RELATIONS: John Mattio
HC International, Inc. Tel: US +1-203-616-5144 Email: Web:
http://www.hcinternational.net/ DATASOURCE: SkyPeople Fruit Juice,
Inc. CONTACT: Ms. Spring Liu, CFO of SkyPeople Fruit Juice, Inc.,
+1-818-390-1272, ; or Investors, John Mattio of HC International,
Inc., +1-203-616-5144, Web site:
http://www.skypeoplefruitjuice.com/
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