Attached files
file | filename |
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8-K - WEIKANG BIO-TECHNOLOGY GROUP CO., INC. | v204243_8k.htm |
Exhibit
99.1
Investors
Relation contacts:
John
Marco, Partner, Elite IR
Tel:
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+1-310-819-2948
|
Email:
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John.marco@elite-ir.com
|
Leslie J.
Richardson, Partner, Elite IR
Tel:
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+852-3183-0283
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Email:
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Leslie.richardson@elite-ir.com
|
Weikang
Bio-Technology Issues Fiscal 2011 Revenue Guidance of $71 - $82
Million
and Net Profit of $27 - $31 million or $0.97 - $1.12 Earnings per
Share
HARBIN, China, November 29,
2010 -- Weikang Bio-Technology Group Co., Inc. (OTC Bulletin Board:WKBT.ob - News) ("Weikang" or
the "Company"), a leading developer, manufacturer and marketer of Traditional
Chinese Medicine (TCM), Western prescription and OTC pharmaceuticals and other
health and nutritional products in the People's Republic of China, today
announced that for fiscal 2011, the Company expects revenue to be in the range
of $71 to $82 million, net profit to be $27 to $31 million and earnings per
share to be $0.97 to $1.12, based upon 28 million shares
outstanding.
“We are
working extremely diligent to enhance our market penetration as we continue to
build a high-quality therapeutics company. We have launched several
new therapeutics this year and have plans to launch several more new
therapeutics in 2011. In addition, we have expanded our sales
coverage area by adding three new distributors,” commented Mr. Yin Wang,
Chairman and CEO of Weikang Bio-Technology Group. “Therefore, we believe that we
have created a solid foundation to continue expanding sales, increase revenue
and net income and strengthen shareholder value.”
About
Weikang Bio-Technology Group Co., Inc.
Weikang
Bio-Technology Group Co., Inc. is principally engaged in developing,
manufacturing and distributing Traditional Chinese Medicine (TCM), and health
and nutritional supplements in China, in compliance with requisite Chinese
licenses and approvals. The Company is also expanding its business scope to
develop, manufacture and distribute Chinese herbal extract products and GMP
certified western prescription and OTC pharmaceuticals through its acquisition
of Tianfang. For more information, please visit http://www.weikangbio.com.
Safe
Harbor Statement
This
press release contains certain statements that may include "forward looking
statements." All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking statements are
often identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be incorrect. You
should not place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual results could
differ materially from those anticipated in these forward-looking statements as
a result of a variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange Commission and
available on its website (http://www.sec.gov).
All forward-looking statements attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these factors. Other
than as required under the securities laws, the Company does not assume a duty
to update these forward-looking statements.