Nutrastar International, a leading producer and supplier of premium branded consumer products, functional health beverages, and organic and specialty foods, today announced its results for the year ended December 31, 2011.
Revenues increased 41.1 percent to $34.21 million compared to $24.24 million in the year ended December 31, 2010.
Gross profit increased 32.4 percent to $25.96 million, up from $19.6 million in the comparable 2010 year, representing a gross margin of 75.9 percent.
Net income rose 26.3 percent to $17.00 million, or basic and diluted earnings per share of $1.12 and $1.04, respectively, up from $13.44 million reported for full year 2010, representing a net margin of 49.7 percent.
As of December 31, 2011, Nutrastar had cash and cash equivalents totaling $54.56 million, or $3.34 per diluted share; total assets of approximately $76.43 million, or $4.68 per diluted share; working capital of $52.33 million, or $3.20 per diluted share; and stockholders’ equity of $72.02 million. Net cash generated from operating activities was $18.80 million for the year ended December 31, 2011, as compared to $15.35 million in the comparable 2010 period.
The company attributes its record sales to strong Chinese consumer demand, as well as an effective marketing campaign.
“As a result of our marketing and branding efforts, our functional health beverages saw sales grow to $6.85 million for 2011 with $3.38 million in sales recorded in the fourth quarter alone, up 60 percent from third quarter sales of $2.11 million,” Lianyun Han, CEO of Nutrastar, stated in the press release. “While still high, gross margins declined to 75.9 percent from 80.9 percent in 2010 due to the increased contribution of our beverage products which incur a higher cost of production than our core consumer product, Cordyceps.”
Han said the company is diversifying its product offerings with the addition an instant soluble drink powder as well as several organic products.
The company reaffirmed guidance that 2012 revenue will be in the range of $40 million to $44 million, representing an approximate 17 percent to 29 percent top line increase year-over-year.
For more information visit www.nutrastarintl.com
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