yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
Red Hat
The Opening of Virtualization
User Environment Management – The Third Layer of the Desktop
Cloud Computing for Business Agility
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Return on Assests: Bringing Visibility to your SOA Strategy
Managing Hybrid Endpoint Environments
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
How Can AJAX Improve Homeland Security?
Beyond Widgets: What a RIA Platform Should Offer
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
Today's Top SOA Links

Asia Bio-Chem Group Corp. Announces Third Quarter 2012 Financial Results

TORONTO, Nov. 13, 2012 /CNW/ - Asia Bio-Chem Group Corp. (TSX: ABC) ("Asia Bio-Chem" or the "Company") announces its financial results for the three-month period ending September 30, 2012.


  • Lower gluten and germ prices coupled with high corn costs caused gross margin to decline to negative 8.1% during the third quarter compared with 2.5% during the same period in 2011.

  • In response to negative gross margins, the Company adjusted production volume to 57,000 tonnes during the quarter representing 27% of capacity.

  • Negative gross margin resulted in a net loss of $11.1 million (-$0.13 per share) compared with $4.3 million net loss (-$0.05 per share) during the third quarter of 2011.

  • During the third quarter, the company reduced its total borrowings by $3.7 million to $108.1 million at September 30, 2012.

  • The Company continues to enjoy the strong support of its banking group.  Since the end of the third quarter, the Company has successfully renewed three of its short term credit facilities due in October and November and has secured one new credit line in the amount of $4.5 million (RMB 29 million).

  • The Company maintains unrestricted cash balance of $6.4 million at September 30, 2012.

  • Management of the Company continues to manage its working capital position and has taken steps to alter the commercial relationships with some of its customers to reduce the delinquent receivables outstanding.

"The corn processing industry, and in particular, those producers in the northeast part of China have been subject to a variety of challenges," stated Mr. Zhiping Wang, President and CEO of Asia Bio-Chem. "On the cost side, the northeastern markets for corn have been tightened due to government purchasing while prices in the central and southern regions have come down due to corn imports directed to this region.  With this imbalance in corn supply between these regions, the corn price in our area has become more expensive than in the central region of China. On the product pricing side, our product markets have suffered from a slowing Chinese economy, over capacity in the northeast and supply of cheaper products from the lower corn cost regions. These conditions are not consistent with historical experience and we believe them to be temporary."

As a result of negative margins, we have intentionally reduced capacity through a temporary closure of our Changtu plant for most of the quarter.  During the third quarter, total production was 56,931 tonnes which represents a 64.5% reduction from the same quarter in 2011 and a 54% reduction from last quarter.

During the third quarter, corn cost has increased 4.2% from the third quarter of 2011 and 2.8% since last quarter. As discussed above, these increases were the result of a market imbalance between the northeast and the central and southern regions.  This imbalance coupled with lower germ and gluten prices have caused a negative gross margin of 8.1% compared with positive 2.5% during the same period in 2011.

Negative margins coupled with a $5.4 million allowance for doubtful accounts resulted in earnings before interest, taxes, depreciation and amortization ("EBITDA") to decline to negative $7.9 million compared with negative $1.4 million during the corresponding period in 2011.


in thousands of Canadian dollars except per share and percentage data     Three Months Ended
September 30,
    2012   2011  
Sales     27,880   69,102 -59.7%
Gross profit (loss)     (2,270)   1,732 -231.1%
Gross margin (% of Sales)     -8.1%   2.5%  
Operating expenses     7,556   4,915 53.7%
loss from operations     (9,826)   (3,183) 208.7%
Other expense     (1,420)   (1,221) 16.3%
Income recoveries (taxes)     118   121 -2.5%
Net loss     (11,127)   (4,283) 159.8%
EBITDA     (7,911)   (1,440) 449.4%
EBITDA before stock-based compensation     (7,855)   (1,293) 507.5%
Loss per share:            
  Basic     (0.13)                 (0.05)  
  Diluted     (0.13)                 (0.05)  
Weighted average number of shares:            
  Basic      85,306,258   85,306,258  
  Diluted     86,306,258   85,306,258  
Balance Sheet Highlights     As at 9/30/12   As at 12/31/11  
Cash     6,407   10,580  
Restricted Cash     17,127   25,040  
Working Capital     (36,907)             (9,963)  
Total assets     210,227             251,686  
Current Ratio     0.71:1   0.93:1  

During the third quarter of 2012, net loss was $11.1 million (-$0.13 per share) compared with a loss of $4.3 million (-$0.05 per share) during the same period of 2011.

During the third quarter the Company's unrestricted cash position declined to $6.4 million from $10.6 million at December 31, 2011. Total debt declined to $108.1 million at September 30, 2012 from $120.9 million at December 31, 2011.

Conference Call
Asia Bio-Chem will be hosting a conference call to discuss the third quarter results at 10:00 a.m. EST on Wednesday, November 14, 2012. The details are as follows:

Dial in number:
      1-888-231-8191  or  647-427-7450

Conference ID and
Replay pass code:
Taped Replay:       1-855-859-2056 or 416-849-0833
(Available until November 28, 2012)

About Asia Bio-Chem Group Corp.
Asia Bio-Chem Group, through its wholly-owned subsidiaries in the People's Republic of China ("PRC"), is in the business of processing corn. From its plants in Liaoning and Heilongjiang Province, the Company has a total processing capacity of 900,000 tonnes of corn per year, which are processed into cornstarch, corn germ, gluten, and fiber for sale into the domestic Chinese market.

This news release contains certain statements that may be deemed "forward looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects,", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward looking statements, except as required by law, in the event that management's beliefs, estimates or opinions, or other factors, should change. 


SOURCE Asia Bio-Chem Group Corp.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Web 2.0 Latest News
DevOps Summit at Cloud Expo 2014 Silicon Valley was a terrific event for us. The Qubell booth was crowded on all three days. We ran demos every 30 minutes with folks lining up to get a seat and usually standing around. It was great to meet and talk to over 500 people! My keynote was we...
Are you a winner? Are you someone who always gets what they want? Are you one of those people who do what they set their eyes on no matter what the circumstances? If you answered yes to all of these questions then you are among the highly successful people in the world that have a prov...
The iPad sales are down, but it is now possible to run most business apps on the iPad with the Citrix X1 Mouse. Can this make the iPad more relevant for business? Despite the mostly positive financial news from Apple, the one weakness that gets a lot of press is the decrease in iPad s...
Forbes called 2015, the Year of the Mobile Beacon. AdWeek talks about how beacons are already influencing the way we network, get drunk, vacation, shop, and even how we buy sausage. Ten experts at Marketing Land predicted that this year the whole world of mobile marketing will become ...
Ever wondered if your marketing efforts for an in-store sale or event are impacting, or even reaching, your customers? Foot traffic is a great indicator of marketing effectiveness. By comparing foot traffic before, during and after sale promotions you’re able to identify if any increas...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)!

Advertise on this site! Contact advertising(at)! 201 802-3021

SYS-CON Featured Whitepapers