NEW YORK, Jan. 4 /PRNewswire-FirstCall/ -- Deer Consumer Products, Inc. ("Deer") (Nasdaq: DEER; website: http://www.deerinc.com), one of the world's largest designers and manufacturers of home and kitchen electronics marketing to both global and Chinese domestic consumers, announced today the company has signed a $4 million supply contract for product shipments to the South American markets for delivery in 2010.
The contract marks one of Deer's largest single orders for the South American markets. Deer anticipates the order to be immediately accretive to 2010 earnings. Deer believes the company is well positioned to benefit from the global growth of consumer wealth as well as from the continued economic recovery in developed markets.
Bill He, Chairman & CEO of Deer commented: "While Deer continues to maintain market leadership from sales of its products in developed countries, growth in consumer wealth and income in less developed markets, such as Asia and South America, is expected to drive higher margins and account for a higher percentage of our total global sales in 2010. We are excited about providing 2010 sales and earnings guidance which is expected by mid January of this year."
About Deer Consumer Products, Inc.
Deer Consumer Products, Inc. (www.deerinc.com) is a NASDAQ Global Market listed U.S. public company headquartered in China. Supported by more than 103 patents, trademarks and copyrights and approximately 1,900 company-trained seasonal and full-time production workers, Deer is a leading Chinese designer, manufacturer and seller of quality small home and kitchen electric appliances both in the China domestic market and to export markets. Deer's product lines include blenders, juicers, soy milk makers and other home appliances designed to make today's lifestyles simpler and healthier. With more than 100 global and domestic clients/branded products, including Black & Decker®, Ariete, Disney, Toastmaster, Magic Bullet, Back to Basics and Wal-Mart, Deer has enjoyed rapid sales and earnings growth in recent years.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Deer's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Deer's filings with the Securities and Exchange Commission.
Contact Information: Corporate Contact: Mr. James Chiu Deer Consumer Products, Inc. Tel: 011-86-755-86028312 Email: email@example.com
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