Yongye International Inc. (YONG) Doubles Q1 Revenues in Preliminary Earnings Report
Yongye International Inc., a leading agricultural nutrient company in China, today reported its preliminary financial results for the first quarter ended March 31, 2011. First quarter 2011 revenues were $50.2 million, more than double last year’s first-quarter revenues of $24.9 million. The company attributes the increase in revenues to higher demand for the company’s products in its traditional markets as well as in several new markets. The results also reflect the increase in its independently owned branded stores to 26,006 as of March 31 compared to 24,036 reported at the end of 2010. Yongye said its year-end goal is to…