SkyPeople Fruit Juice, Inc (SPU) SEC Filing 10-Q Quarterly report for the period ending Thursday, June 30, 2016

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Exhibit 99.1

SkyPeople Fruit Juice Reports Record 2010 Financial Results;
$93.2 Million in Revenues, Net Income of $21.2 Million and EPS of $0.92
Capacity expansion projects to drive incremental growth in 2011

XI'AN, China, March 31, 2011 -- SkyPeople Fruit Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company”) a processor and manufacturer of kiwifruit, apple, pear and other concentrated specialty fruit juices and manufacturer of Hedetang-branded and Qian-Mei-Duo-branded fruit beverages, today announced record financial results for its fourth quarter and year ended December 31, 2010.

Fourth Quarter 2010 Highlights

·  
A record with revenue of $43.9 million, up 22.6% from 4Q 2009
·  
Apple concentrates and Hedetang fruit beverages increased 359% and 417%, respectively
·  
Net income was $11.2 million, up 9.8% year-over-year, also a record
·  
Diluted EPS showed a decrease to $0.47 for 4Q 2010 based on 23.1 million shares versus $0.56 per share in 4Q 2009 based on 18.6 million shares
 
Fourth quarter 2010 Results
 
      4Q 2010       4Q 2009    
CHANGE
 
Net Sales
 
43.9 million
   
35.8 million
      +22.6 %
Gross Profit
 
$17.9 million
   
$16.7 million
      +7.2 %
Net Income
 
$11.2 million
   
$10.2 million
      +9.8 %
EPS (Diluted)*
    $0.47       $0.56       -16.1 %
Shares Utilized
 
23.1 million
   
18.6 million
      +24.2 %

"The fourth quarter is traditionally our strongest and was an appropriate ending to a successful year in which we demonstrated the significant growth in both apple concentrates and our branded Hedetang fruit beverages,” started Yonkue Xue, Chief Executive Officer of SkyPeople Fruit Juice. "Due to seasonality, we normally witness kiwifruit concentrates and fresh fruits as the dominant contributor to revenues in the quarter.   This year, however, we witnessed triple digit growth from our apple concentrates and production.  I am especially proud of the 4 fold increase in fruit beverage sales, which was driven by a broader distribution footprint, the addition of new retail locations, and reorders from existing customers. Our Hedetang-branded beverages are currently sold through over 84 distributors and over 100 retail stores in approximately 17 cities.  As the market continues to embrace these unique flavors, we are pursuing a significant growth opportunity in this segment and commercialized a new fruit juice line, Qian Mei Duo in January 2011 to target one of the fastest growing markets in China, the active, health-conscious female 18-29 years old.”

Total revenue for the fourth quarter of 2010 ended December 31, 2010 was $43.9 million, up 22.6% from $35.8 million for the quarter ended December 31, 2009. This increase was driven by higher sales of concentrated apple juice, fruit beverages, concentrated kiwifruit puree and pear juice concentrates. More specifically, sales of apple concentrate increased 357% year-over-year to $15.6 million for the quarter as international sales rebounded due to a worldwide supply shortage.  The second major revenue contributor for the fourth quarter was fruit and cider beverages which increased 417% to $7.5 million for the quarter compared to 2009.   Sales of fruit juice beverages and fruit cider beverages continue to benefit from strong demand from Chinese consumers as more middle class consumers prefer healthy alternatives to carbonated soft drinks.

 
-1-

The following information was filed by SkyPeople Fruit Juice, Inc on Friday, April 1, 2011 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Quarterly
  • Number of times amended: 0
  • Accession Number: 0001213900-17-000237
  • Submitted to the SEC: Wednesday, January 11, 2017
  • Accepted by the SEC: Wednesday, January 11, 2017
  • Period Ending: June 2016
Companies
 

SPU Morningstar

SkyPeople Fruit Juice, Inc

$6.72 +0 (+0%)

Day's Range:
N/A

52-Week Range:
$1.62 to $20.95

Volume:
N/A

Volume (Avg):
254,440

Earnings per Share:
$-0.37

PEG / Short / PE Ratios:
0.00 / 0.96 / N/A

Market Cap:
$27.29M

Book Value:
47.70

EBITDA:
$11.17M