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news.Nutrastar, a China-based producer and supplier of premium branded traditional Chinese medicine (TCM) consumer products, has reported net revenue of $5.8m for the first quarter ended 31 March 2011, an increase of 21.6% , compared to $4.77m for the same period in 2010.
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Nutrastar has reported a net income of $3m, or $0.18 per diluted share, compared to net income of $2.72m or $0.19 per diluted share, for the same period last year.
Income from operations were $3.5m, as compared to $3.11m for the same period prior year.
The company has earned gross profit of $4.43m, as compared to $3.71m, for the comparable period last year.
Nutrastar CEO Lianyun Han said the company’s first quarter 2011 was marked by continued sales growth, further expansion of their functional health drink distribution network and production capacity, as well as the introduction of a new entry level variation of our beverage product.
"For the first quarter 2011, gross profit percentage was 76.4%, a slight decrease from 77.8% year-over-year as a result of a change in our product mix and the introduction of our beverage line, which has lower gross margins than our core commercially cultivated Cordyceps product," Han said.