QualityStocks News - Tanke BioSciences Turns to Profit in Q2 2012; Announces Sales Increases in Quarterly and Six-Month Results

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Financial performance in second quarter and first six months of 2012 mark strong improvement over comparable periods of 2011

QualityStocks would like to highlight Tanke Biosciences Corporation, a publicly traded company which, through its subsidiaries, engages in the development, production, marketing, and sale of animal nutrition and feed additive products. The company offers organic trace mineral additives under the Qili name; feed acidifiers, which are used to prevent microbial degradation of raw materials or finished feeds under the Qilicid name; seasonings; flavor enhancers that are used as the agent in the production of blended feed under the Tankeball name; and herbal medicinal additives blended with feed products under the Extra-Health, Qilimix, and Recoccider names in China.

In the company’s news yesterday,

Tanke BioSciences announced its financial results for the second quarter and first six months of 2012, reporting a quarterly turn-to-profit and a 49 percent improvement in sales vs. the second quarter of last year.

Tanke recorded net income of $272,411, or $0.01 per share, compared to a loss of $1.65 million, or a loss of $0.12 per share, in the second quarter of 2011.

Revenues for the 2012 quarter came in at $7.43 million vs. revenues of $4.98 million in the comparable quarter of the year prior.

For the first six months ended June 30, 2012, Tanke reported revenue of $11.9 million, an increase of 10 percent compared to revenue of $10.9 million in the first six months of 2011.

The company reported a net loss of $398,563, or a per share loss of $0.03, in the first six-month of 2012, compared with a net loss of $3.67 million, or a loss of $0.29 per share, in the first half of 2011.

Tanke attributes its second-quarter improvement primarily to increased demand for the company’s organic trace mineral additives. The product’s sales increased by $2.57 million, or 65 percent, over the same quarter in 2011.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.

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