|By Marketwired .||
|December 4, 2013 09:31 AM EST||
INDIANAPOLIS, IN -- (Marketwired) -- 12/04/13 -- Stevia Corp. (OTCQB: STEV) ("Stevia Corp." or the "Company"), a farm management company focused on the economic development of stevia, the fastest growing product in the alternative sweetener sector, is pleased to announce it has achieved profitability ahead of projections.
The Company has achieved net income of $16,822 for the quarter ending September 30, 2013 compared to a net loss of $793,420 for the quarter ending September 30, 2012. Attaining profitability at this early stage of development is a major milestone and reflects execution of a sound business model setting the stage for future growth of the Company's expanding product line.
George Blankenbaker, Stevia Corp President comments, "We are focused on innovative applications of stevia extracts across a broad spectrum that includes commercial feedstock additives as well as healthy life style products emphasizing the medicinal qualities of stevia in addition to the traditional high intensity sweetener applications. This has enabled us to focus on less crowded markets and target higher margins which is key to our bottom line performance."
Mr. Blankenbaker adds, "Our focus on developing proprietary applications is also providing co-branding and licensing opportunities across a number of countries that we believe will provide significant additional revenue opportunities for fiscal year 2014."
Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.steviacorp.us.
About Stevia Corp. (OTCQB: STEV)
Stevia Corp. is a farm management company focused on best practice agronomic competency in order to deliver high value crops through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. For more information visit: www.steviacorp.us.
About the Stevia Industry Sector
Within two years of the USA market opening, Nielsen-based retail consumption data indicated almost $1 billion of retail sales for the sector. In 2010, stevia products were launched across thirty-five countries and in 38 categories. Zenith International estimates worldwide sales of stevia extract reached 3,500 tons in 2010 with an overall market value of $285 million and forecasts the global market for stevia will reach 11,000 tons by 2014. For more information visit: www.steviacorp.us.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, future growth of Company products, target higher margin products, revenue opportunities in 2014, business strategy, worldwide sales of stevia extract and sweetened products, growth of stevia leaf production and growth of the stevia global market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.