SHANGHAI, China, Nov. 20 /Xinhua-PRNewswire-FirstCall/ -- 网易娱乐Linkwell Corporation (OTC Bulletin Board: LWLL), a leading developer, manufacturer and distributor of healthcare related disinfectants in China, today announced its financial results for the third quarter ended September 30, 2007.
The Company recorded revenues of approximately $3.37 million for the third quarter of 2007; a 77% increase from $1.90 million recorded for the third quarter of 2006. The income from operations is $10,650 for the third quarter of 2007, Net income decreased to a loss of $82,331 for the third quarter of 2007, compared to net profit of $332,520 for the third quarter of 2006. The shareholders equity increased to approximately $5.9 million.
For more details about Linkwell’s financial performance, please review the 10-QSB filed with the United States Securities and Exchange Commission.
Linkwell’s Chief Operation Officer, Mr. Huang ChunMing, stated, "We are pleased with our operating performance in the third quarter of 2007 and we are moving ahead according to our plan."
"The reason why our income from operations and net income decreased is that we continually strengthen market position through accelerated development and promotion. For the nine months ended September 30, 2007, the selling expenses of our company increased approximately 135% compared to the same period of 2006."
"We expensed the remaining part of the deferred consulting fee for China Direct Investment, Inc., nearly $352,500 in this quarter, due to the termination of the service contract. The consulting fee was to be amortized over three years until the end of 2009."
"We believe that we can gain from these early stage investments. Meanwhile, we will continue to work hard to maximize our shareholders’ value."
About Linkwell Corporation
Linkwell Corporation develops, manufactures, and distributes disinfectant healthcare products in China through its subsidiary Shanghai Likang Disinfectant High Tech Company (‘Likang’). Linkwell’s disinfectant healthcare products are a nationally recognized domestic Chinese brand in this market segment. Linkwell products include disinfectants in liquid, tablet, powder and aerosol form. Through Likang, Linkwell has a national marketing and sales presence throughout all 22 provinces, 5 autonomous regions, and 4 special municipalities of China. For more info about the company, please visit http://www.linkwell.us .
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company’s operations, financial performance and, condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive products, pricing and new technology; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, and other factors as those discussed in the Company’s reports filed with the Securities and Exchange Commission from time to time. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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