This morning Sunwin released their financial results for the third quarter of fiscal 2006, which ended January 31, 2006. The Company recorded revenues of $3.841 million for the third quarter ended January 31, 2006; a 42% increase from $2.705 million recorded for the same period in fiscal 2005. Net income surged to approximately $877,588, a 350% increase over the $193,698 in net income reported for the same period in fiscal year 2005. This translates to an EPS of $0.02 for the third quarter... As of the third quarter of the fiscal year 2006, the Company had in excess of $3.6 million in cash and cash equivalents. Shareholder equity increased to $10.355 million, its highest level ever, a 125% increase from $4.552 million recorded for the same period in fiscal year 2005.Although these were record results, shares of Sunwin reacted negatively as they traded down over 6.0%, to below $1.40. Shares are currently trading at 1.40 on decent volume of just over 300,000 shares. At this current share price this company looks like a great opportunity for any long term investors as this company has a lot of potential for some serious growth. Currently Sunwin is awaiting results from the department of Livestock and Farming for Shandong Province Government after they submitted a fast-track application to the Livestock Farming Bureau of China Ministry of Agriculture on behalf of Sunwin International Neutraceuticals, Inc for their new line of disinfectants which has been proven effective in inhibiting the spread of the H5N1 and H9N2 strands of the avian flu.
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