Rochester, NY 8/21/2009 1:56:22 AM
China Marine Food Group Limited CMFO, Market Updates on Financial Stocks
China Marine Food Group Limited CMFO
China Marine Food recently release that its second quarter earnings per share of $0.16 vs. $0.14 a year ago; co reports second quarter rev growth of 12.9% to $14.8 mln. The raise revenues was due to the continued growth in sales of the Company's processed seafood snack segment which grew 15.3% for three-months period ended June 30, 2009.
China Marine's Mingxiang(R)-branded dried seafood snack food products accounted for approximately 96.6% of China Marine's revenues for the quarter while its marine catch segment accounted for approximately 3.4%. Based on demand and favorable market pricing, China Marine will at times execute a sale of fresh or frozen marine catch to select distributors it has maintained in its marine catch network since 1994.
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