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Article: Zhongpin Reports Record Results for Third Quarter 2009 and Reduces Guidance Due To Pork Prices and Higher Shares Outstanding.
- Article from:
- PR Newswire
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHANGGE CITY and BEIJING, China, Nov. 9 /PRNewswire-Asia-FirstCall/ -- Zhongpin Inc. ("Zhongpin" or "the company", Nasdaq: HOGS), a leading meat and food processing company in the People's Republic of China ("China"), today reported higher revenues, net income, and diluted earnings per share for the third quarter of 2009.
Zhongpin also reduced its guidance for the full year 2009 because, even though Zhongpin's sales volume in the third quarter 2009 achieved a record high, pork prices in China are currently not increasing.
Third quarter 2009 highlights:
-- Revenues increased 26.7 percent in the third quarter 2009 to $194.9
million from $153.8 ...