China Marine Reports Record 2010 Revenues of $122.7 Million

Friday, March 04, 2011

Company Provides 2011 Guidance: $150.0+million in revenues and $27.3 million in adjusted net income

China Marine Food Group Limited (NYSE Amex: CMFO) ("China Marine" or the "Company"), a manufacturer of Mingxiang® seafood-based snack foods, "Hi-Power" marine algae-based beverages and a distributor of frozen marine catch, today announced its financial results for its fourth quarter ended December 31, 2010.

Full Year 2010 Highlights

• Revenue was $122.7 million, up 76.3% and ahead of $100.0+ million projection 

• Gross margins expanded 300 basis point year-over-year to 30.5% 

• $26.0 million in "Hi-Power" sales exceeded prior guidance of $23.0-$25.0 million
• Expanded Mingxiang®-branded snack foods to approximately 3,200 retail locations

Source: China Marine Food Group Limited

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Nakilat Damen Shipyards Qatar JV is 5

On 23 November 2015, Nakilat Damen Shipyards Qatar celebrated its first 5 years of operation. With 40 vessels delivered or under construction, the yard has proven

Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities.

Wärtsilä's' Digital Services for Performance Enhancement

Wärtsilä, a global leader in complete lifecycle solutions for the marine and energy markets, launches a new service portfolio, Wärtsilä Genius services to help

Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0677 sec (15 req/sec)