Aoxin TianliGroup, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
March 14, 2017 at 07:30 am EDT
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Aoxin TianliGroup, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the period, the company reported revenues of $33,697,680 against $37,367,956 a year ago. Income from operations was $2,448,049 against $3,634,052 a year ago. Income before income taxes was $941,077 against $2,982,092 a year ago. Net income from continuing operations was $941,077 or $0.12 per basic and diluted share against $2,982,092 or $0.37 per basic and diluted share a year ago. Net loss attributable to the company's common stockholders was $1,759,721 against net income attributable to the company's common stockholders of $4,489,834 a year ago. Net cash provided by operating activities was $10,047,286 against $21,246,034 a year ago. Purchase of biological assets was $105,374. Purchase of plant and equipment was $2,960,399 against $2,741 a year ago.
For the quarter, the company reported revenues of $7,186,000 against $8,752,000 a year ago. The decrease in Revenue was primarily due to a decrease in number of hogs sold and partially offset by an increase in the average selling prices for hogs. Net income from continuing operations was $371,000 or $0.05 per share against $1,275,000 or $0.15 per share a year ago. Net loss for common shareholders was $382,000 or $0.05 per share against net income for common shareholders of $2,935,000 or $0.35 per share a year ago.
BIQI INTERNATIONAL HOLDINGS formerly CORPRenmin Tianli Group, Inc., is a holding company. The Company is engaged in hog farming. The Company conducts its hog breeding operations through Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. (Fengze), a subsidiary of Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd., its wholly foreign owned enterprise, or WFOE, and its subsidiaries, Hubei Tianzhili Breeder Hog Co., Ltd. (Tianzhili), and Hubei Tianzhili (Hefeng) Breeder Hog Co., Ltd (Hefeng). The Company operates in two segments: Hog Farming and Retail. It utilizes various purebred hogs at its farms. The primary purebred varieties that it utilizes are the Yorkshire, Landrace and Duroc. It breeds both purebred and cross-bred hogs in order to attain desirable traits in the hogs produced in its farms. It is engaged in the sales of specialty processed black hog meat through the Internet. It sells its products under its Xiduhei trademark.