Aoxin Tianli Group, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
March 14, 2016 at 04:30 pm EDT
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Aoxin Tianli Group, Inc. announced consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the three months ended December 31, 2015 revenues decreased by $2.45 million, or 21.9%, to $8.75 million from $11.20 million for the same period of last year. The reduction in revenues reflects the impact from the sale of two hog farms in the third quarter of 2015 and the closure of another farm in 2014. Operating income for the three months ended December 31, 2015 increased by $0.23 million, or 25.2%, to $1.14 million from $0.91 million for the same period of last year. Net income increased by $0.85 million, or 42.2%, to $2.87 million for the three months ended December 31, 2015 from $2.02 million for the same period of last year.
The company reported revenues for the twelve months ended December 31, 2015 decreased by $1.17 million, or 3.0%, to $37.37 million from $38.53 million for the same period of last year. This decrease in Revenue was mainly due to fewer regular hogs sold during 2015 and partially offset by an increase in average selling prices of regular hogs and an increase in sales from retail. Operating income for the twelve months ended December 31, 2015 increased by $1.79 million, or 97.2%, to $3.63 million from $1.84 million for the same period of last year. Net income decreased by $0.28 million, or 5.9%, to $4.44 million for the twelve months ended December 31, 2015 from $4.71 million for the same period of last year. Earnings per share were $0.14 compared to $0.21 a year ago. Income from operations was $3.634 million compared to $1.842 million a year ago. Income before income taxes was $2.982 million compared to $2.652 million a year ago. Net income from continuing operations was $2.982 million or $0.09 per basic and diluted share compared to $2.652 million or $0.12 per basic and diluted share a year ago. Net cash provided by operating activities was $21.246 million against $12.002 million a year ago. Purchase of plant and equipment was $0.002 million against $8.524 million 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.
BIQI INTERNATIONAL HOLDING CORPORATION 
