Deer Consumer Products, Inc. Announces Record Third Quarter 2011 Financial ...
(Website: http://www.deerinc.com/ ), a important provider of "DEER" branded household consumer products to Chinese consumers and a leading vertically integrated producer of small household and kitchen appliances for global customers, announces today record fiscal results for the third quarter ended September 30, 2011.Q3/2011 REVENUE
Third quarter revenue was $73.0 million, an rise of $17.7 million, or 32%, from $55.3 million for the same period of 2010. Approximately 77% of the sales in the third part were generated from China's domestic markets while approximately 23% were from export markets. The increase in revenues was a upshot of our expansion of sales in the China domestic market of Deer branded product lines. We were also masterful to raise the average selling prices of our products during the quarter and maintained healthy profit margins across our offering lines.
Q3/2011 GROSS PROFIT MARGIN
Third quarter gross profit margin was almost 30%, which reflects blended profit margins between our higher margin China domestic sales and on the whole lower margin export sales as well as an increase in the average selling prices of our products. In furthermore, we are continuing to improve the efficiency of our manufacturing operations by producing key components of our products in house, allowing us to profit further from economies of scale and achieve improved manufacturing margins.
