0000950103-11-003131.txt : 20110802 0000950103-11-003131.hdr.sgml : 20110802 20110802123349 ACCESSION NUMBER: 0000950103-11-003131 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110802 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110802 DATE AS OF CHANGE: 20110802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Synutra International, Inc. CENTRAL INDEX KEY: 0001293593 STANDARD INDUSTRIAL CLASSIFICATION: DAIRY PRODUCTS [2020] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33397 FILM NUMBER: 111002777 BUSINESS ADDRESS: STREET 1: 15200 SHADY GROVE ROAD #350 CITY: ROCKVILLE STATE: MD ZIP: 20850 BUSINESS PHONE: 3018403888 MAIL ADDRESS: STREET 1: 15200 SHADY GROVE ROAD #350 CITY: ROCKVILLE STATE: MD ZIP: 20850 FORMER COMPANY: FORMER CONFORMED NAME: Vorsatech Ventures, Inc. DATE OF NAME CHANGE: 20040614 8-K 1 dp25556_8k.htm FORM 8-K
 
 

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC  20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant To Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported):  August 2, 2011
 
SYNUTRA INTERNATIONAL, INC.
(Exact Name of Registrantas Specified in Charter)
 
     
     
 
Delaware
001-33397
13-4306188
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
2275 Research Blvd., Suite 500, Rockville, MD
 
20850
(Address of Principal Executive Offices)
 
(Zip Code)
 
     
Registrant’s telephone number, including area code:  (301) 840-3888
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
  o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
  o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
  o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
  o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 2.02
Results of Operations and Financial Condition.

 
On August 2, 2011, Synutra International, Inc. (the “Company”) issued a press release commenting on its financial results for its fiscal quarter ended June 30, 2011.  A copy of the Company’s press release is attached hereto as Exhibit 99.1.
The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01                Financial Statements and Exhibits

(d)           Exhibits

99.1           Text of press release issued by Synutra International, Inc. dated August 2, 2011

 
 

 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
   
SYNUTRA INTERNATIONAL, INC.(Registrant)
 
       
 
Date:
 
August 2, 2011
 
 
By:
 
/s/ Weiguo Zhang
 
       
Name:
Weiguo Zhang
 
       
Title:
President
 
 
 
 

 
 
EXHIBIT INDEX


Exhibit No.
 
Description
     
99.1
 
Text of press release issued by Synutra International, Inc. dated August 2, 2011
     
 
 
 


 
EX-99.1 2 dp25556_ex9901.htm EXHIBIT 99.1
EXHIBIT 99.1

FOR IMMEDIATE RELEASE:

Synutra Comments on its First Quarter of Fiscal 2012

Earnings Release Scheduled for August 9, 2011

Qingdao, China and Rockville, Md. – August 2, 2011 – Synutra International, Inc. (NASDAQ: SYUT), a leading infant formula company in China and a producer, marketer and seller of nutritional products for infants, children and adults, today commented on its financial performance for the first quarter of fiscal 2012, which ended June 30, 2011.

Mr. Donghao Yang, Chief Financial Officer of Synutra, commented, “As of this point, we expect to report next week a net loss for the first quarter of 2012, although we continue to get closer to reaching profitability. There have also been notable improvements in the first quarter, including a continued recovery in our branded infant formula sales and an increase in market share to 5.3% in June.”

Yang continued, “Two key events should be pointed out ahead of our conference call next week.  First, we decided not to enter into industrial milk powder sales in the first quarter.  We did not need the short term financing these sales typically produce, and while we may pursue such sales in the future, we decided against the low margin revenue this quarter.  Second, net sales from our branded powdered formula segment were approximately $40.2 million in the first quarter.  These net sales were impacted by the delay of whey powder delivery from our European supplier, which caused us to recognize approximately $16.6 million of branded infant formula sales in the month of July instead of in the month of June.  We do not view this as a substantive issue, since the orders are intact and shipped in July, but the timing did undermine top line results for the first quarter.  We look forward to discussing our financial results in more detail next week, once we have completed our accounting review and have published results.”

Synutra plans to release financial results for the first quarter of fiscal 2012 on Tuesday, August 9, 2011, after the market closes.  The Company will hold a conference call on Wednesday, August 10, 2011 at 8:00 am Eastern Time to discuss the financial results.  Listeners may access the call by dialing the following numbers:
 
United States Toll Free:
+1 (866) 405-2350
International:
+1 (718) 354-1231
Conference ID:
83225375

The replay will be accessible through August 18, 2011 by dialing the following numbers:
 
United States Toll Free:
+1 (866) 214-5335
International:
+1 (718) 354-1232
Conference ID:
83225375

A webcast of the conference call will be available through the Company’s IR website at www.synutra.com.

About Synutra International, Inc.
Synutra International, Inc. (Nasdaq: SYUT) is a leading infant formula company in China. It principally produces, markets and sells its products under the "Shengyuan" or "Synutra" name, together with other complementary brands. It focuses on selling premium infant formula products, which are supplemented by more affordable infant formulas targeting the mass market as well as other nutritional products and ingredients. It sells its products through an extensive nationwide sales and distribution network covering 30 provinces and provincial-level municipalities in China. As of March 31, 2011, this network comprised over 580 independent distributors and over 1,000 independent sub-distributors who sell Synutra products in over 71,000 retail outlets.


FOR FURTHER INFORMATION:
Synutra International, Inc.
Investor Relations Department
ir@synutra.com or 301-840-3881