Published: July 29, 2010
GHN Agrispan Issues Revenue and Earnings Guidance
XIAMEN, China - (BUSINESS WIRE) - GHN Agrispan Holding Company (OTCBB: GHNA), an emerging company engaged
in China's high-growth agriculture, prepared foods and catering
industries, today announced revenue and earnings guidance for the Fiscal
Year ending December 31, 2010. Based on a review of the Company's
operations and market conditions in the various segments in which it
operates, the Company expects that revenue and net income results for
the Company will exceed all previous results by a significant margin.
Projected Guidance for FY 2010:
-
FY 2010 projected revenue of $37 million (vs. revenue of $27 million
FY 2009 on a pro forma basis*, or $11.0 million as previously
reported), equating to a pro forma 37% year-over-year revenue increase.
-
FY 2010 projected net income of $5.7 million (vs. $4.9 million FY
2009), equating to an approximate 16% year-over-year net income
increase.
-
EPS of approximately $0.14 based on 40.52 million basic shares
outstanding.
*In FY 2010, GHN Agrispan changed its method of revenue recognition from
a "net" basis to a "gross" basis as a result of GHN Agrispan making
direct sales to certain of its existing customers in lieu of selling
through independent distributors. The FY 2009 pro forma revenue of $27
million represents an adjustment to the previously reported $11.0
million figure to allow for a more accurate year-over-year comparison.
"We remain unequivocal in our commitment to driving revenue and earnings
growth," said Ms. Xu Yizhen, CEO of GHN Agrispan. "Our proven business
model, which focuses on the high-growth areas of China's thriving
agriculture, prepared foods, and catering industries are validated by
our first quarter 2010 results during our historically slow period as
well as current and forecasted top line and bottom line numbers. We
believe our proactive business model will serve to drive revenues,
earnings and, ultimately, shareholder value."
GHN Agrispan recently became a US publicly listed company in early 2010
and is set to achieve record levels of revenue and earnings due to its
corporate growth initiatives and sophisticated knowledge of China's
agriculture industry. The company is committed to establishing itself as
a leading purveyor of healthy foods and renowned catering services
throughout China's cities and rural areas. GHN Agrispan currently sells
quality products and services with a strong emphasis on food safety to
target clients, including US Fortune 500 companies, European
multinational firms, as well as established Chinese private enterprises
and government institutions. The company is positioned to capitalize on
the rapidly-growing Chinese consumer demand, which is anticipated to
continue despite the current economic downturn worldwide.
About GHN Agrispan Holding Company
Based in Xiamen City, China, GHN Agrispan Holding Company (OTCBB: GHNA)
is an emerging Chinese operating company engaged in the high-growth
agriculture, prepared foods and catering industries in China. GHN
Agrispan has positioned itself to capitalize on China's burgeoning
middle class through an increasing desire for healthy food products that
are free of toxins and pollutants, as well as the China's booming
catering industry, which is currently experiencing growth in the double
digits. GHN Agrispan's catering group is recognized as one of the most
reputable catering services in Xiamen. The company places a strong
emphasis on food safety, selling its premium products and services to
target clients including: US Fortune 500 companies, European
multi-national firms, as well as established Chinese private enterprises
and government institutions such as banks and schools. In addition, the
output from the GHN Agrispan's fresh fruit, vegetables and other
planting bases is purchased by major national supermarkets and
first-tier wholesalers in developed cities throughout China.
For more information please visit the website for GHN Agrispan's
wholly-owned subsidiary, Yidong Group: www.ghnagrispan.com/en
Forward-Looking Statements
This release contains "forward-looking statements" for purposes of the
Securities and Exchange Commission's "safe harbor" provisions under the
Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the
Securities Exchange Act of 1934. These forward-looking statements are
subject to various risks and uncertainties that can affect GHN
Agrispan's operating results, liquidity and financial condition or
otherwise cause GHN Agrispan's actual results to differ materially from
those forecasted. Such factors include risks associated with economic,
weather, public health and other factors affecting consumer spending,
including negative changes to consumer confidence and other recessionary
pressures, higher energy and labor costs, the successful implementation
of GHN Agrispan's growth strategy, including the ability of GHN Agrispan
to finance its expansion plans and the mix and pricing of goods sold.
The identified risk factors and other factors and risks that may affect
GHN Agrispan's business or future financial results are detailed in its
filings with the Securities and Exchange Commission. These cautionary
statements qualify all of the forward-looking statements GHN Agrispan
makes herein. GHN Agrispan cannot assure you that the results or
developments anticipated by it will be realized or, even if
substantially realized, that those results or developments will result
in the expected consequences for it or affect it, its business or its
operations in the way it expects. GHN Agrispan cautions you not to place
undue reliance on these forward-looking statements, which speak only as
of their respective dates. GHN Agrispan does not undertake an obligation
to update or revise any forward-looking statements to reflect actual
results or changes in the GHN Agrispan's assumptions, estimates or
projections.

Company Contact:
GHN Agrispan Holding Company
Kenneth
Ma, Executive Director
+86-136-660-1113
or
Financial
Communications Contact:
Trilogy Capital Partners
Darren
Minton, President
Toll-free: 800-592-6067
info@trilogy-capital.com
Copyright © 2012, Business Wire, Inc., All rights reserved.
Copyright © 2012, NewsBlaze,
Daily News