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Biostar Pharmaceuticals, Inc. Announces Second Quarter 2009 Financial Results

XIANYANG, China, Aug. 14 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM) ("Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced fiscal results for its second quarter ended June 30, 2009.


    Second Quarter 2009 Results

                             Q2 2009        Q2 2008          CHANGE
    Net Sales             $13.2 million  $9.4 million        +40.6%
    Gross Profit           $9.7 million  $5.4 million        +80.5%
    Net Income             $3.9 million  $1.8 million       +119.3%
    EPS (Fully Diluted)           $0.16         $0.08         +100%

    Six Month 2009 Results

                             1H 2009        1H 2008          CHANGE
    Net Sales             $20.7 million  $16.2 million       +27.5%
    Gross Profit          $14.5 million   $9.6 million       +51.9%
    Net Income             $5.7 million   $3.6 million       +58.8%
    EPS (Fully Diluted)           $0.24          $0.15         +60%

Second Quarter 2009 Financial Results

Revenue for the second quarter of 2009 increased 40.6% to approximately $13.2 million compared to approximately $9.4 million for the second quarter of 2008. The increase in revenues resulted from Biostar's enhanced marketing and sales efforts which increased sales of its Xin Aoxing Oleanolic Acid Capsule ("Xin Aoxing Capsule") and Tianqi Dysmenorrhea Capsules ("Tainqi Capsule"). Xin Aoxing Capsule, one of Biostar's flagship OTC products which treats symptoms common to hepatitis B patients, contributed approximately 67.5% to total revenues for the quarter, and increased $4.1 million, or 84.1% to $8.9 million, compared to the second quarter of 2008. The increase was primarily due to market penetration in two additional pro

SOURCE Biostar Pharmaceuticals, Inc.
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