KIWA BIO-TECH 2005 RESULTS ANNOUNCED
&
KIWA TO MANUFACTURE AN ANTI-VIRAL TREATMENT FOR BIRD FLU
[author:Robert Schechter Public time:Apr 17, 2006] |
|
Revenues for the full year of 2005 were $631,794 compared to $1,300,251 in 2004. The decrease is due, in part, to the temporarily closing of a manufacturing facility for a planned upgrade to allow the manufacture of a new product, bacillius fertilizer. Kiwa anticipates strong future sales of bacillius fertilizer and also expect that it will help Kiwa achieve higher gross profits. Other factors that affected revenues were the delay of financing to 2006 that had been expected in the second half of 2005. In addition, the Company entered into a sales agreement to sell fertilizer products for approximately $385K to a Cambodian customer in March 2005. However, the customer did not settle the payment in accordance to the agreement. In November 2005, the customer agreed to return the products to the Company and thus the previously recognized revenue was reversed.
For more information on KIWA and its products, please refer to the website at www.kiwabiotech.com. Please refer to the Company filings with the United States Security and Exchange Commission for more detailed information on the financial results, available for free at www.sec.gov.
Otherinfo:Investor Relations
Robert Schechter
Corporate insights/Equity Communications
(646) 234 3624
Printed From:http://www.free-press-release.com/news/200604/1145301458.html
Source:Free Press Release
Similar news >>
|
|
