American Lorain Corporation Reaffirms Guidance for 2009, Issues New Guidance for 2010
19 November 2009 - 1:00PM
PR Newswire (US)
JUNAN COUNTY, China, Nov. 19 /PRNewswire-Asia-FirstCall/ --
American Lorain Corporation (NYSE Amex: ALN) ("American Lorain," or
the "Company"), today announced that company management reaffirms
guidance for the current fiscal year ending December 31, 2009, and
issues new guidance for the next fiscal year ending December 31,
2010. Mr. Si Chen, Chairman and Chief Executive Officer of American
Lorain Corporation, stated: "We reaffirm guidance previously
provided in our November 13, 2009, third-quarter earnings
conference call and expect total sales revenue between $146 million
and $148 million for the fiscal year ending December 31, 2009. This
would represent a revenue increase of 10%-12% for 2009 over 2008
levels. Furthermore, we expect net income of between $14.4 million
and $14.8 million in the 2009 fiscal year. Our expectations for
fiscal year 2009 sales revenue and net income are consistent with
previous guidance for low-to-medium double-digit top-line growth.
Mr. Chen continued: "For the fiscal year ending December 31, 2010,
we issue new guidance for total sales revenue of approximately $182
million to $190 million. This would represent an increase of
25%-30% for 2010 over 2009 levels. We also project income of
approximately $17.8 million to $19.0 million in the 2010 fiscal
year. "For fiscal 2010, our revenue and net income projections are
based on three major factors. First, our strategy of strengthening
our domestic sales channels through shifting sales to agents will
provide a wider distribution for our products with access to more
supermarkets and convenience stores. Second, our new agreements
with popular chain restaurants in China, such as KUNGFU Catering
Management Co. Ltd. and CSC Catering Management Co., will begin
adding significant revenue in 2010. Third, our nationwide marketing
campaign, funded by the recent private placement transaction which
raised approximately $12 million, will boost sales, particularly in
the convenience food segment." Mr. Chen continued: "We view our
strong sales and earnings thus far in 2009 and our high
expectations for full-year 2009 and 2010 as validation of the
effectiveness of our business model, our growth strategy and our
commitment to providing the highest quality food products to
customers." About American Lorain Corporation American Lorain
Corporation is a Nevada corporation that develops, manufactures and
sells various food products. The Company's products include
chestnut products, convenience food products and frozen, canned and
bulk food products. The Company currently sells over 234 products
to 26 provinces and administrative regions in China as well as to
42 foreign countries. The Company operates through its four direct
and indirect subsidiaries and one leased factory located in China.
For further information about American Lorain Corporation, please
visit the Company's website at http://www.americanlorain.com/ .
Forward-looking statements: Statements contained herein that relate
to the Company's future performance, including statements with
respect to forecasted revenues, margins, cash generation and
capital expenditures are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements involve a number of risks, uncertainties and
contingencies, many of which are beyond our control, which may
cause actual results, performance or achievements to differ
materially from those anticipated. Such statements are based on
current expectations only, and are subject to certain risks,
uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those
anticipated, estimated or projected. Among the factors that could
cause actual results to materially differ include: general business
and economic conditions, particularly the current downturn in the
worldwide economy; our ability to obtain adequate supplies of raw
materials; our ability to manage our expansion strategy; changes in
foreign currency exchange rates; government regulation;
difficulties in new product development; changing consumer tastes
in disparate markets worldwide and our ability to address those
changes; our ability to attract and retain highly qualified
personnel; and other factors affecting our operations that are set
forth in our Annual Report on Form 10-K for the year ended December
31, 2008 filed with the Securities and Exchange Commission. 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:
At the company: American Lorain Corporation Alan Jin, CFO Tel:
+86-539-731-7959 Email: Web: http://www.americanlorain.com/
Investor relations: RedChip Companies, Inc. Jon Cunningham Tel:
+1-800-733-2447 x107 Email: Web: http://www.redchip.com/
DATASOURCE: American Lorain Corporation CONTACT: Alan Jin, CFO of
American Lorain Corporation, +86-539-731-7959, ; Investor
relations: Jon Cunningham of RedChip Companies, Inc.,
+1-800-733-2447 x107, Web site: http://www.americanlorain.com/
http://www.redchip.com/
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