- Reports Continued Improvement to Revenue, Operating and Profit
-Company Reiterates Full Year 2008 Guidance-
PLYMOUTH MEETING, Pa., Nov. 10 /Xinhua-PRNewswire-FirstCall/ -- BMP
Sunstone Corporation (Nasdaq: BJGP) ("BMP Sunstone" or the "Company"),
today announced its financial results for the third quarter ended September
30, 2008. During the quarter, BMP Sunstone successfully completed the
acquisition of 63.3% of Rongheng, a pharmaceutical distribution company in
Shanghai. Financial results reported below include the results of Rongheng
beginning from July 4, 2008.
Financial Highlights as of September 30, 2008:
-- Record third quarter revenues were $30.5 million, a 240% increase from
$9.0 million in the third quarter of 2007.
-- Non-GAAP operating income, as defined below, was $3.5 million for the
quarter, improving from a loss of $1.5 million in the prior year
Non-GAAP operating income for the nine-month period was $7.1 million.
-- Non-GAAP net income, as defined below, was $1.9 million for the quarter
and $3.5 million for the nine-month period.
-- Non-GAAP EPS was $0.05 for the quarter and $0.09 for the nine-month
-- Non-GAAP operating income, net income, and earnings per share exclude
stock based compensation expense, amortization related to acquisitions,
and amortization of debt discount and issuance cost.
Please refer to the financial reconciliations provided in this news
release for a reconciliation of GAAP results to non-GAAP results for the
three and nine months periods ended September 30, 2008 and 2007.
|SOURCE BMP Sunstone Corporation|
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