On May 17, 2011, SkyPeople Fruit Juice, Inc., a Florida company (the "Company"), after having filed its Quarterly Report on Form 10-Q for the three months ended March 31, 2011 (the "10-Q"), hosted an earnings conference call regarding its financial results for the first quarter of 2011 at 8:30 am ET. During the conference call, in the Question and Answer session, the Chief Financial Officer accidently misstated that the revenue of the Company's beverages in the fourth quarter of 2010 was $4.1 million, which amount, in fact, was the cost of goods sold for beverages that quarter. The correct amount for the revenue of the Company's beverages in the fourth quarter of 2010 was $7.5 million. In addition, due to the foregoing mistake, the Chief Financial Officer also mistakenly stated at the earnings conference call that the revenue from beverages increased in the first quarter of 2011 compared with the fourth quarter of 2010. The correct information with regard to the Company's revenues for beverages for the relevant periods was available from the Company's prior public filings with the Securities & Exchange Commission and/or earnings releases.
The revenue from beverages in the first quarter of fiscal 2011was $7.3 million, representing a decrease of $0.2 million compared with that of the fourth quarter of 2010. Such decrease was mainly due to a decrease in revenue from beverages in March of this year, which was offset by an increase in revenue from beverages in January and February before the Chinese New Year (also known as the Spring Festival in China), which fell in February of this year. Based on the Company's historical sales performance, the Company believes that the demand for beverages will increase in the second quarter of the year compared with the first quarter of the year.
The information in this Current Report is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information in this Current Report, including the exhibit hereto, shall not be incorporated by reference into any filings under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
|SkyPeople Fruit Juice, Inc.|
|By:||/s/ Spring Liu|
|Name: Spring Liu|
|Title: Chief Financial Officer|