China Health Labs & Diagnostics Ltd CHLBF

RE: suprised

[sunshine7]

Does not seem to attract any attention considering the following. Few companies have this growth profile and recent business secured that will triple their rural lab base means the growth will continue. Needs more brokers to follow.

In 2010, the Company achieved its business and financial goals and made progress on its mission of becoming a leading provider of total lab solutions for medical diagnostics and food safety testing in China with the following highlights:

• Revenues grew by 41% to over $33.7 million, lead by a more than 100% increase in revenues from total lab solutions to account for more than 40% of revenues in 2010;
• Net income grew by 41% to over $5.5 million, if the $1.441 million of expenses related to the Qualifying Transaction are excluded, net income would have increased by 78%;
• Net income per share increased by 43% to
  .10 due to increased net income, partially offset by an increase in the weighted average number of shares due to the Qualifying Transaction and concurrent equity funding;
• Installed base of the BK Clinlab rural lab total solution grew from 86 to 210 locations in three Chinese provinces and secured a bid to install 587 BK Clinlabs in Jilin Province for 2011;
• More than doubled sales of POCT solutions to the Chinese military and signed a research and development agreement with the Chinese military;
• Increased sales of food safety lab solutions to the Beijing municipal government;
• Maintained relationships with more than 500 large urban hospitals and labs; and
• Commenced trading on the TSX Venture Exchange on October 25, 2010, after completing the Qualifying Transaction, and concurrently raising approximately $3.6 million in new equity.

The Company has entered 2011 well positioned for further growth and with sufficient capital to expand its business for rural total lab solutions, POCT lab solutions and food safety lab solutions, including the 587 locations expected to be installed in Jilin Province.  In the fourth quarter of 2010, the Company secured a bid to install its rural total lab solutions in 587 Jilin locations and expects to finalize the agreement for that installation to be in 2011.