Business
Bon Natural Life Limited Announces Record-Setting Full Fiscal Year 2022 Results
Revenue increased by 17.3% to $29.9 million.Delivered full fiscal year 2022 net income of $6.2 million, or $0.74 per diluted share. Xian, China, Feb. 10, 2023
About this update from Bon Natural Life Limited
[{"type":"text","content":"Revenue increased by 17.3% to $29.9 million.Delivered full fiscal year 2022 net income of $6.2 million, or $0.74 per diluted share. Xian, China, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Bon Natural Life Limited (Nasdaq: BON) (\"BON\" or the \"Company\"), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced its 2022 annual financial results for the fiscal year ended September 30, 2022. FY 2022 Financial Highlights Total net revenues were US$29.9 million, representing a 17.3% increase from US$25.5 million for the same period in 2021.Gross profit increased by 32.5% to US$9.4 million from US$7.1 million for the same period in 2021.Gross margin was 31.5%, an increase by 3.6% from 27.9% for the same period in 2021.Revenues and gross profit of our bioactive food ingredient products increased by 48.5% and 61.4% compared to the same period of 2021.Net income increased by 35.4% to US$6.2 million in FY2022 from US$4.6 million for the same period in 2021.Diluted earnings per share (“EPS”) was $0.74, compared to $0.68 for the same period in 2021. Management Commentary “We are pleased to conclude fiscal 2022 with solid growth in both top and bottom lines compared to fiscal year 2021 despite challenges caused by volatile global environment including high inflation, supply chain disruption, and persistent outbreak of COVID-19 pandemic in last year.” Commented Richard (Yongwei) Hu, BON’s Chairman & CEO, “I would like to recognize our team for their contribution in navigating through these conditions by market strategy adjustment, disciplined cost management as well as pricing efforts. Thanks to their relentless effort and hard work, the gross profits of fragrance compound, health supplemental powder drinks and bioactive food ingredients increased by 27.3%, 10.4% and 61.4% from the prior year. Our net income grew 35.4% to $6.2 million.” “Looking ahead to 2023, we expect the first-phase completion of our third production site - Yumen Plant in May 2023. Once up and running, Yumen Plant will add 150% revenue growth potential on an annualized basis. In addition, the successful launch of our new vegetable based probiotic powder drink for regulation and improvement of human's overall microbiome and digestive health, as well as natural based personal care product for female hygiene health wi...