American Lorain (ALN) FY 2010 Results

10-K

Q4 2010 Financial Highlights


Total revenues of $82.3 million, an increase of 30.8% year over year

Gross margin improved to 22.7% from 20.9% year-over-year

Net income attributable to common stockholders of $8.2 million, up 30.4% year-over-year

Diluted earnings per share of $0.24 compared to $0.23 in the prior year period


Full-year 2010 Financial Highlights

Total revenues of $184.2 million, an increase of 25.5% from the prior year

Gross margin improved to 22.7% from 22.3% in the prior year

Net income attributable to common stockholders was $17.8 million, an increase of 23.8% year-over-year

Diluted earnings per share of $0.55 compared to $0.55 in the prior year

Generated $24.4 million in cash from operations

Company achieved 2010 guidance of $182.0 to $190.0 million in revenues and $17.8 million to $19.0 million in net income

Book value per share of $3.76

American Lorain's Chairman and CEO, Mr. Si Chen, stated, "We are very pleased with our growth during the quarter and year ended December 31, 2010. We have continued to benefit from our existing long-term supplier and customer relationships, and are gaining significant traction in consumer acceptance of our convenience food products. Despite the various uncertainties weighing on the global economic environment, we have remained growing and profitable. American Lorain maintains a growing and diverse network of customers throughout 26 provinces in China and 42 countries around the world. We continued to expand our brand name throughout China, and improved sales domestically by 30.5% during 2010. In 2010, 73.3% of the Company's sales were generated domestically through our network of distribution channels and relations. We also improved our sales internationally by 13.6% primarily supported by growth in the Asia-pacific region. Our financial position is strong with approximately $57.4 million in working capital and a continued record of generating free cash flow while still regularly investing in our business."

Excellent company with a great future.