China New Borun Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Revenue Guidance for the Fourth Quarter of 2017
For the nine months, the company reported revenues of RMB 1,528,016,205 against RMB 1,619,208,219 a year ago. Operating income was RMB 132,834,191 against RMB 99,421,178 a year ago. Income before income taxes was RMB 84,297,230 against RMB 64,209,794 a year ago. Net income was RMB 63,222,923 against RMB 48,157,345 a year ago. Earnings per share basic and diluted share were RMB 2.46 against RMB 1.87 a year ago.
The company estimates that its revenue for the fourth quarter of 2017 will be in the range of RMB 520 million to RMB 560 million an increase of approximately 1.3% to an increase of 9.1% over the same quarter of 2016. With the company's facilities back up to full speed and corn prices stabilizing this harvest season, the company anticipates higher revenue and sequential margin expansion in the fourth quarter of 2017.