BEIJING, Nov. 6 /PRNewswire-FirstCall/ - Good Life China Corporation www.goodlifechina.com (GLCC) is pleased to provide guidance regarding fourth quarter and annual results, based on new business model. This has been a transitional year, as the Company has almost completed a full transition from a wholesale/franchise retail distribution model to an advanced logistics and retail management services provider.
Net income, before taxes for the fourth quarter is anticipated to come in between $400,000 to $500,000 USD, with year end results of just under $1.7 million USD for the year.
Good Life China CEO, Dongmei Jia, notes; "This has been a ground breaking year for the Company. We expect to finish the year with comparable income numbers to last year's results. Given the radical changes in how the Company generates revenue, and recognizes profit, we are in an excellent position as we look forward to 2009. This is due to the fact that we are eliminating a great deal of variable costs in regards to a traditional wholesale retail distribution channel and our expectations are to achieve higher gross margins as our overall income continues to rise from both the supply side and retail members.
In addition, once we have more experience analyzing the numbers individually from each new profit center, we expect to be able to fine-tune the pricing grids, and optimize our billing models to further enhance profitability".
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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