www.streetinvesting.com: Eternal Technologies Group Inc. Progressive Review
2/6/2007
Feb 06, 2007 (M2 PRESSWIRE via COMTEX News Network) --
Please visit www.Streetinvesting.com for the full report.
American markets closed with mixed results once again Monday, as trading activity continued to be affected by concerns about the economy. Despite the day's mixed results however, many traders continued to be encouraged by impressive sales reports and a barrage of acquisitions. Following in tune with the market's recent, overall positive performance, investors of Eternal Technologies Group Inc. (OTCBB:ETLT) were able to see success. Upon the toll of the day's closing bell the Company's share price was up 22.00%, accompanied by a trading volume of 2,730,144.
As many of you well know by now, 2007 has brought many sectors a significant sell off. This is particularly true when looking at many stocks in the resource and energy sectors. Although this may have spelled out bad news for some investors, others have continued to see improvement. One group of prospective companies that continues to be of particular interest to both traders, analysts, and our researchers this year is Bio-Techs.
Recently, our experienced team of researchers has been placing an increased focus on Bio-Techs, as well as companies involved with the distribution or production of pharmaceutical or medical wares.
Eternal Technologies Group Inc. was one of the prospective companies which we have chosen to bring to your attention.
Eternal is a major agricultural genetics and biopharmaceutical R&D firm operating in China with the support of the Chinese Government. Eternal's animal breeding division has a strong asset base, cash position and net income. Eternal has become one of China's leading institutions for biopharmaceutical and biotech research, pure breed cultivation and breed stock production. The Company has secured a key market niche by commercializing gene engineering technologies and providing superior breeding stock, allowing China's citizens the ability to improve their living standards. With the world's largest population, a double-digit national growth rate and entry into the WTO, Eternal Technologies has a playing field set for tremendous opportunity. As a prominent player in the agricultural genetics industry, cash in the bank and an untapped market, Eternal has the potential to become a major player in China's national growth.
In some of the most recent news to surface surrounding the aforementioned Eternal Technologies Group Inc., which we feel may have had an effect on the day's success in the marketplace, as well as an ongoing effect on shareholder outcome, Eternal Technologies Group Inc. reported results of operations for the three and nine months ended September 30, 2006.
Revenues for the three months ended September 30, 2006 increased by $2,089,207 or 41.6% to $7,116,175 from $5,026,986 for corresponding period of 2005. For the three months ended September 30, 2006 the company had net income of $1,843,743 or $.05 per share compared to net income of $730,231 or $.02 per share for the corresponding period of the prior year.
For the nine months ended September 30, 2006, the company reported revenues of $21,702,671, an increase of $4,443,288 or 25.7% from the $17,259,383 reported for the nine months ended September 30, 2005. The company had net income of $4,043,242 or $.10 per share for the nine months ended September 30, 2006 compared to net income of $2,560,091 or $.06 per share for the corresponding period of 2005.
The Company continues to be very liquid. As of September 30, 2006, it had cash and cash equivalents of $14,891,671, short term investments of $25,262,732 and working capital of $39,692,110. The company's shareholders equity increased to $53,340,660 or $1.31 per share, substantially above its closing price of $.0467 on November 14, 2006.
As we have mentioned to our members time and time again, we feel biotech stocks are the, "Wave of the future."
It has been estimated that half of all biotech medicines have been approved in just the last five years. Tens of billions of dollars have also been invested into the biotechnology industry throughout the past 20 years and many investors are now beginning to see returns on these investments. Although many still view the sector as, "risky," there is no denying the immense returns others have been subject to as well.
Private investors and institutions are not the only ones with their eyes on Bio-Tech's these days. The growth of political interest in biotechnology is also increasing in remarkable volumes. Back in 2003, this was highlighted by President Bush's overwhelmingly supportive speech at BIO 2003, when he said, "My administration is committed to working with your industry so that the great powers of biotechnology can serve the true interests of our nation and mankind."
Since this time, the President's message of encouragement and support has been echoed by many other major political leaders across the globe. Multiple nations are currently subsidizing the research and development of bio-tech companies and the threat of potential..
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