logo
Share SHARE
FONT-SIZE Plus   Neg

Shiner International Full-year Profit Down

Shiner International Inc. (BEST) said its net income for fiscal 2011 fell significantly to $1.7 million from $4.2 million, mainly due to increased labor costs, R&D expenses, depreciation of the new property and no other income from a former landlord offset by an increase in subsidy income. Earnings per share for the year were $0.06, versus $0.17 a year ago.

Shiner's revenue for the year rose 29.4% to $75.3 million from $58.2 million in 2010, helped primarily by an increase in domestic product volume.

Qingtao Xing, Shiner's President and CEO, stated, "In 2012, we will continue to develop new market and expand our market share both in China and abroad with our efforts. By investing in our R&D's innovation and the high-end facility, we expect to achieve better operational performance and financial prospect in 2012."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT