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American Oriental Bioengineering Reports First Quarter 2011 Financial Results
Date:5/9/2011

NEW YORK, May 9, 2011 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB), (the "Company" or "AOB"), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over–the-counter ("OTC") products, today announced financial results for the first quarter ended March 31, 2011.

First Quarter 2011 Financial PerformanceIn the first quarter of 2011, revenue decreased to $52.0 million from $53.7 million in the same period of 2010.

  • The Company generated revenue of $48.7 million from its manufacturing business in the first quarter of 2011 compared with $50.5 million in the prior year period.  Revenue from pharmaceutical products decreased 4.7% to $39.0 million from $40.9 million in the prior year period. Nutraceutical products generated revenue of approximately $9.8 million in the first quarter of 2011, an increase of 1.2% from $9.7 million in the prior year period.  The revenue performance reflects the combined results of the Company's continuous marketing efforts, new product launches, and expanding coverage in rural areas.  This was offset by the impact from the Company's strategic shift of revenue mix toward higher-margin products to minimize the impact from the increased costs of certain raw materials.
  • The Company generated $3.3 million from its distribution business, Nuo Hua, in the first quarter of 2011, compared to $3.2 million in the prior year period.

  • Gross profit in the first quarter of 2011 was $25.1 million compared to $28.2 million in the first quarter of 2010. Gross margin was 48.2% compared to 52.5% in the prior year period.  The margin pressure was mainly caused by a higher proportion of generic product sales in the rural market, the increased costs of certain raw materials, as well as the new le
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    SOURCE American Oriental Bioengineering, Inc.
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