Message #1 From:
NewsBot Date: February 16, 2008 09:01:29 PM
Hankersen Intl. Corp. Announces Second Quarter 2007 Results
Net Income Increased 143 Percent on 13 Percent Growth in Sales
XI'AN, China, Aug. 14, 2007 (PRIME NEWSWIRE) -- Hankersen Intl.
Corp. (OTCBB:HKRS), a leading cork-building material manufacturer
announced results for the second quarter of 2007.
The Company reported an increase in revenue of $0.4 million, or 13%,
to $3.6 million for the three months ended June 30, 2007, as compared
to the same period last year. For the three months ended June 30, 2007,
the Company reported an increase in net income of $0.23 million, or
143% increase to $0.39 million.
For the six months ended June 30, 2007, the Company reported an
increase in revenues of $0.54 million, or 11%, to $5.28 million. Net
income for the six months ended June 30, 2007 increased $0.18 million,
or 61% to $0.49 million.
Mr. Pengcheng Chen, CEO of Hankersen Intl. Corp. commented,
"Increased demand on cork wood floor products and introduction of wood
material, combined with improved gross margin and reduction in
operation expenses helped accelerate growth in revenue and net income
over the same period last year."
Mr. Chen continued, "We are pleased with the performance of last
quarter, and continue exploring strategies in meeting the demand of our
products as well as improving our costs and efficiency in operations
and supply chain. Our plans on consolidating the raw material provider
will provide us a unique competitive edge. We are excited about the
coming quarters and confident in delivering solid results."
On August 14, 2007, the Company filed its Form 10-Q for the fiscal
quarter ended June 30, 2007. Please refer to the Management's
Discussion and Analysis or Plan of Operation included in the Company's
Form 10-Q filed for a more complete discussion of sales, margin and
expenses.
Hankersen Intl. Corp. is a leading cork-building material
manufacturer based in China. The products are sold under Hanxin brand
name to customers in China, India, Japan, Germany and the United
States. For more information, visit http://www.hankersen.com/
