This represents year-on-year revenue growth of between 39% to 44%, which was attributed to increased sales of SkyPeople's Hedetang-branded, fruit juice product line plus sales of fruit concentrate and fresh fruit.
Preliminary 2009 net income is anticipated at between $15m and $16m for the year, representing between 50% and 60% year-over-year growth. The increase resulted from higher overall sales, including the company's Hedetang-branded fruit juices, for which the first nine months of 2009 yielded average gross margins of 38%.
Management is providing revenue guidance of $92m to $102m and net income guidance of between $19m to $21m for 2010. Growth is expected to be driven by enhanced distribution of its Hedetang-branded juices, capacity expansion and increased orders from domestic and international customers of concentrates as global markets rebound, the company said.