SHANGHAI, China, May 21, 2009 (GLOBE NEWSWIRE) -- Linkwell Corporation (OTCBB:LWLL), a leading developer, manufacturer and distributor of healthcare related disinfectants in China, has filed its Form 10-Q report on operating results for the first quarter of 2009. It reported gross profit was up more than 29% from the comparable year earlier period, and net income grew more than 35% from the prior year's quarter, despite a significant increase in sales, general and administrative expenses.
For the three months ended March 31, 2009, the company had total revenues of $3,551,076, compared with $4,732,938 in the prior year's first quarter. Gross profit for the 2009 first quarter amounted to $1,583,448, up 29% from $1,229,980 in the first quarter of 2008. Net income amounted to $444,243, or $0.01 per fully diluted share, up 35%, or $0.00 per fully diluted share, from $328,307 in the same period a year earlier.
"We are very pleased with our first quarter results," said Mr. Xuelian Bian, the Company's Chief Executive Officer. "While revenues for the year earlier quarter were higher than the current quarter, this was primarily because in the 2008 first quarter we still owned the Likang International Trading subsidiary, which contributed part of 2008 first quarter total revenues. This unit subsequently was disposed of in May, 2008."
"Meanwhile, the revenues of Shanghai Likang Disinfectant Hi-Tech registered a very respectable nearly 26% gain in revenues in the first quarter of this year, and we expect it to show continued year-over-year quarterly growth going forward," Mr. Bian observed.
"Our present manufacturing facilities and production capacities are sufficient for the foreseeable future. We believe that we have the assets and capital available to enable us to increase our revenues in future periods, as the market for disinfectant products in China continues to increase," Mr. Bian concluded.
The full SEC report filed by Linkwell may be seen at: http://www.sec.gov/Archives/edgar/data/1042463/000114420409027689/v149953_10q.htm
About Linkwell Corporation:
Linkwell Corporation, through its 90% ownership of its subsidiary, Linkwell Tech Group, Inc., develops, manufactures and distributes disinfectant healthcare products in China. Linkwell's disinfectant healthcare products are recognized as one of leading domestic Chinese brands in this market segment. Linkwell currently has 56 different products include disinfectants in liquid, tablet, powder and aerosol form. Linkwell has a national marketing and sales presence throughout all 22 provinces, 5 autonomous regions, and 4 special municipalities of China. For more information, please visit http://www.linkwell.us.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive products; pricing and new technology; changes in consumer preferences and tastes; effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production; and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.