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American Dairy reports revenue increase
American Dairy Inc in China has announced financial results for the fourth quarter and full year ended 2009.
Revenue decreased 45% to $44.0m in the fourth quarter of 2009 from $79.6m in the fourth quarter of 2008. Revenue from milk powder products, which consist primarily of the company’s higher margin infant formula products, was $20.7m, or 47.2% of total sales, down from $59.3m, or 74.5% of total sales, in the fourth quarter of 2008.
Revenue from raw milk powder was $18.9m, compared to $16.7m in the fourth quarter of 2008 and up substantially to 43.0% of total revenue compared to 20.9% of total revenue in the prior year’s period.
Read the full American Dairy release here.
Source: American Dairy
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