True face of China -- A Modern Kaleidoscope Message Board

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Strategies & Market Trends : True face of China -- A Modern Kaleidoscope

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To: Julius Wong who wrote (582)	11/14/2006 10:18:23 PM
From: hui zhou	of 12464

I think BBC will back right up tomorrow. NEW YORK (AP) -- Chinese fertilizer company Bodisen Biotech Inc. said Tuesday third-quarter profit grew 11 percent on stronger sales of organic fertilizer and pesticide products. Net income grew to $3.2 million from $2.9 million in the prior-year period. Per-share profit dipped to 17 cents from 18 cents, as Bodisen's number of outstanding shares grew 17 percent to 18.3 million. ADVERTISEMENT Net revenue rose to $12.7 million from $10.5 million, as the company benefited from price increases for its main products. Looking ahead, Chairwoman and Chief Executive Karen Qiong Wang said in a statement she expects Bodisen's fourth-quarter revenue and earnings to be above prior-year levels but gave no details. The company also clarified an earlier announcement, saying it received a notice of deficiency from the American Stock Exchange, not a notice of delisting. The notice cited the company's inability to timely provide information the exchange had requested. It also said the exchange believed Bodisen made incomplete, misleading or inaccurate disclosures in its regulatory filings related to its relationship with a consulting firm. Bodisen said it hired additional legal counsel to help ensure the information is promptly provided in the future, and it will amend or correct any filings with the Securities and Exchange Commission as necessary. Bodisen's U.S.-listed shares fell $2.55, or 30 percent, to $5.96 on the American Stock Exchange. The stock dipped to a new 52-week low of $5.81 earlier in the session.

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