Tianli and An Puluo Foods began selling branded packaged pork through An Puluo's retail distribution channels in April 2011. After 14 months of collaboration, Tianli has decided to diversify its retail distribution to more partners in order to reach a broader customer base to larger cities for its branded pork products. As a result, Tianli terminated its exclusive marketing program with An Puluo Foods to provide the Company additional retail and meat processing options and partnerships. In the near term, Tianli will remain a customer of AnPuluo Foods to service their combined customer base of Tianli-AnPuluo branded pork meats while the Company engages other, non-exclusive, sales agreements.
Tianli is committed to its retail expansion. A central part of its retail growth strategy centers around its Enshi Black Hog program started in the third quarter of 2011. Tianli's five-year exclusive agreement with government agencies in Enshi Autonomous Prefecture allows the Company to raise, process, and sell Black Hog products, which command premium prices and margins. Tianli is building its own brand in preparation for the launch of its Black Hog meat program in the third quarter of this year. "Ultimately, we decided that it is in Tianli's best interest to expand the number of retail distribution partners in order to quickly scale this business and prepare for our Enshi Black Hog program. We are working quickly to execute this new strategy in order to service Chinese consumers' demand for higher quality pork meat."
We continue to see strong demand across each of our businesses. In the first quarter of 2012 we sold 34% more market hogs while our breeder hog sales were negatively impacted by a weak market and the contamination that occurred in December 2011, which resulted in a loss of approximately 500 breeder hogs. I am extremely pleased with the progress of our black hog program, which will become a big contributor to our sales later this year. We anticipate further growth by expanding the number of farms that participate in our program with local cooperatives to raise Enshi black hogs.
Based on sales through December 15, 2011, management expects full year results as follows: Revenue of $28.5 - $29.5 million, Net Income of $8.2 - $8.8 million, and EPS of $0.81 - $0.87.
In late November, the Company and a number of other farms in greater Wuhan received a shipment of tainted corn feed containing a mycotoxin mold. A number of hogs that consumed this feed were infected with the mold, which caused porcine diarrhea. Approximately 10,000 of Tianli's hogs, consisting of a mix of sows, feeder pigs, and piglets, with the majority being piglets, exhibited signs of the infection.
"We have taken all the steps necessary to eliminate the threat posed by this shipment of tainted corn. ... Because we constantly monitor the health of our animals we were able to quickly contain the effects of this incident. The additional costs and lost revenues from the infected hogs will have a short-term impact on our operations and our financials. However, we will quickly replace the lost hogs and return to full production levels."