Deer Consumer Products, Inc. Reports Consolidated Earnings Results for the Year Ended December 31, 2011; Provides Earnings Guidance for the Year 2012
March 29, 2012 at 06:55 am EDT
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Deer Consumer Products, Inc. reported consolidated earnings results for the year ended December 31, 2011. For the year, the company reported revenues of $226,748,885, income from operations of $48,228,480, income before income tax of $48,919,065 and net income of $39,805,629 or $1.18 per diluted share compared to revenues of $175,846,887, income from operations of $36,848,152, income before income tax of $35,997,463 and net income of $30,349,037 or $0.90 per diluted share for the previous year. Net cash provided by operating activities was $5,968,640 compared to the $11,076,019 for the previous year. Acquisition of property & equipment was $10,444,879 compared to the $10,095,861 for the previous year. Acquisition of intangible asset was $4,325,011 against $36,441,355 a year ago. The increase in revenues was a result of the sales expansion in the China domestic market of the Deer branded product lines.
The company provided 2012 revenue guidance of between $270 and $290 million, net income guidance of between $45 million and $47 million, and targets EPS will be between $1.37 and $1.42.
Deer Consumer Products, Inc. is a China-based designer, manufacturer and seller of small home and kitchen electric appliances. The Company develops, promotes, manufactures and sells a range of products, including blenders, juicers and soy milk makers. The Company's product lines include small household appliances and personal care products, such as blender, chopper, juicer, food processor, meat grinder, commercial blender, Ice shaver, chocolate fountain, ice maker, coffee maker, waste disposal, soy milk maker, egg boiler, dehumidifier, electric kettle, rice cooker, stove top and microwave oven. In China, the Companyâs products are sold primarily under the Deer brand name, as well as under one store brand for a retailerâs private-label programs. The Companyâs products for overseas consumer products companies are sold under various brand names, including Black & Decker and Betty Crocker Kitchens, as well as store brands for a retailerâs private-label programs.
DEER CONSUMER PRODUCTS, INC. 
