Chai-Na-Ta Corp. Reports 2009 Year-End Results
RICHMOND, BRITISH COLUMBIA–(Marketwire – Mar 12, 2010) – All total have been in CDN$
Chai-Na-Ta Corp. (OTCBB:CCCFF), one of the world’s largest suppliers of North American ginseng, currently voiced 2009 net benefit of $669,000, or $0.02 per simple share, compared to a 2008 net detriment of $4.7 million, or $0.13 per simple share.
Revenue decreased to $6.9 million in 2009 from $9.2 million in 2008. We satisfied an normal offered cost of $8.50 per bruise compared to $9.50 per bruise in 2008.
“Due to the altogether diminution in prolongation in the 2009 collect for the industry, we have committed some-more than 98% of the 2009 collect and completed a assuage liberation in the normal sales cost relocating in to 2010,” pronounced Derek Zen, Chairman of the Company.
“However, diseased ginseng prices sojourn a plea and the capability of the Company to grasp handling income and certain money flows whilst stability to plant at a tolerable turn is uncertain,” Mr. Zen continued. “We have no goal to go on planting brand new ginseng crops in Ontario but will try to brand alternative viable commercial operation alternatives.”
2009 Fourth Quarter
During the entertain finished Dec 31, 2009, income decreased to $1.0 million from $1.7 million in the same entertain final year. Net benefit in the 2009 fourth entertain were $15,000, or reduction than $0.01 per simple share, compared to a net detriment of $2.1 million, or $0.06 per simple share, in the same duration final year. The net benefit in the fourth entertain of 2009 were essentially a outcome of the benefit on the showing of the Company’s skill and comforts in British Columbia.
Chai-Na-Ta Corp., formed in Richmond, British Columbia, is one of the world’s largest suppliers of North American ginseng. The Company farms, processes and distributes North American ginseng as bulk root, and reserve processed element for the make of value-added ginseng-based products.
This headlines recover contains forward-looking statements which simulate the Company’s expectations per destiny events. These forward-looking statements engage risks and uncertainties, and tangible events could talk about materially from those projected. Such risks and uncertainties include, but have been not singular to, ubiquitous commercial operation conditions and alternative risks as summarized in the Company’s continual filings, Annual Financial Statements and Form 20-F.
