Big Tree Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
November 19, 2013 at 08:31 am
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Big Tree Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company's total revenues reached $16.4 million, an increase of 91% compared to total revenues of $8.6 million recorded in 2012 and a 37% sequential increase from second quarter 2013 revenues of $11.9 million. The increase in revenues compared to the third quarter of 2012 was primarily due to a shift in revenue mix toward full service sales, where the Company managed the entire sales process from order through shipment, as well as an increase in overall sales. Net income in the third quarter of 2013 was $592,000 or $0.06 per basic and diluted share on 10.4 million shares outstanding. Net income in the third quarter of 2012 was $942,000 or $0.09 per basic and diluted share on 10.0 million shares outstanding.
For the first nine months of 2013, the company recorded revenues of $35.7 million with net income of $1.0 million or $0.10 per basic and diluted share on 10.3 million shares outstanding. For the first nine months of 2012, revenues were $19.3 million with net income of $1.7 million or $0.17 per basic and diluted share on 10.0 million shares outstanding.
Big Tree Group Inc. is engaged in the business of toys sourcing, distribution and contractual manufacturing targeting international and domestic distributors and customers in the toys industry. The Company's main business focus is to function as a one stop shop for the sourcing, distribution and specialty manufacturing of toys and related products. The Company conducts these operations through both its BT Brunei and BT Shantou subsidiaries. The Company sources a wide variety of toys made of plastic, wood, metal, wool, and electronic materials, primarily targeting at children from infants to teenagers. These toys include, but are not limited to, infant appliances, games, balls, dolls, stuffed toys, transformers, racing track sets, play sets, water toys, and educational toys.