China In-Focus: Deer Consumer Products Inks $7.7 Million Popcorn Machine Contract
April 30, 2009 (FinancialWire) — Deer Consumer Products, Inc. (OTCBB: DCPD), a Chinese maker of home and kitchen appliances, said it has signed sales contracts totaling $7.7 million with a wholesale buyer for product sales to the Target Corp. (NYSE: TGT) in the U.S. The contract covers specialty branded popcorn machines for U.S. consumers.
The company said that the contract is an initial order of a series of sales contracts that Deer anticipates announcing in the near future with various buyers.
In 2008, Deer reported $43.8 million in revenues, $3.4 million in net income and EPS of $0.39 on a post share split basis.
Deer Consumer Products is a U.S. public company headquartered in China. The company is engaged in the design, manufacture and sale of home and kitchen electric appliances targeting the Chinese domestic consumer markets as well as customers in more than 40 countries worldwide.
Deer’s product lines include blenders, juicers, pressure cookers and other home appliances. The company boasts more than 100 global and domestic clients and branded products including Black & Decker, Ariete-Disney, Toastmaster, Magic Bullet, Back to Basics, and Wal-Mart.
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