I’m buying more on the heels of yesterday’s annual report announcing record results!
2011 revenue of $226.7 million, an increase of 28.9% from 2010
2011 net income of $39.8 million, an increase of 31% from 2010
Fully diluted earnings per share of $1.18, an EPS increase of 31% from 2010
Anticipates favorable Chinese domestic consumer market environment for continued growth in 2012
2011 revenue was $226.7 million, an increase of $50.9 million, or 28.9%, from $175.8 million in 2010. Approximately 68% of DEER sales in 2011 were generated from the China domestic market while approximately 32% were from export markets. The increase in revenues was a result of sales expansion in the China domestic market of our Deer branded product lines. DEER was also able to raise the average selling prices of products and maintained healthy profit margins across our product lines.
2012 Forecast, Deer anticipates revenues from the high margin China domestic sales will continue to surpass export sales. Deer provides 2012 revenue guidance of between $270 and $290 million, net income guidance of between $45 million and $47 million, and targets EPS (Earnings per Share) between $1.37 and $1.42. 3-YEAR INSIDER SHARE LOCKUP, TOTAL MANAGEMENT COMMITMENT
Deer’s entire management team has voluntarily entered into 3-year share lockup agreements, which prohibit them from selling any shares to the general public through at least 2013. The lockup agreements represent approximately 47% of Deer’s entire outstanding shares. Deer management’s vested interests are aligned with those of Deer’s public shareholders. Deer has been led by its original founders since the inception of its operating business 17 years ago.
Deer Consumer Products, Inc. is a NASDAQ Global Select Market listed U.S. company with its primary operations in China. Deer has a 17-year operating business as well as a strong balance sheet. Operated by Deer’s founders and supported by more than 100 patents, trademarks, copyrights and approximately 1,000 staff, Deer is a leading provider of “DEER” branded consumer products to Chinese consumers and a leading vertically integrated manufacturer of small home and kitchen appliances for global customers. DEER’s product lines include a series of small household and kitchen appliances as well as personal care products designed to make modern lifestyles easier and healthier.