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China BCT Reports Strong Second Quarter 2010 Results
Date:8/16/2010

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China BCT Reports Strong Second Quarter 2010 Results

   

-- Second quarter 2010 revenue rose 43% year-over-year to $47.5 million-- Second quarter 2010 net income rose 35% year-over-year to $7.1 million, or $0.19 per diluted share

LIUZHOU CITY, China, Aug. 16 /PRNewswire-Asia-FirstCall/ -- China BCT Pharmacy Group, Inc., (OTC Bulletin Board: CNBI), ("China BCT" or the "Company"), a leading pharmaceutical distributor, retail pharmacy, and manufacturer of pharmaceutical products in Guangxi Province, China, today announced strong results for the second quarter ended June 30, 2010.

Second Quarter 2010 Highlights -- Revenue increased 42.8% year-over-year to $47.5 million -- Gross profit rose 48.1% year-over-year to $12.6 million -- Operating income grew 49.6% year-over-year to $10.3 million -- GAAP net income was $7.1 million, or $0.19 per diluted share, compared to $5.3 million, or $0.16 per diluted share, in the year ago quarter -- Excluding non-cash expenses related to change in the fair value of warrant liabilities, non-GAAP adjusted net income was $7.6 million, or $0.20 per diluted share -- In May 2010, China BCT announced the successful acquisition of 11 retail pharmacy stores in Laibin City, Xiangzhou County, expanding the Company's pharmacy footprint in Guangxi Province -- In June 2010, the Company announced further expansion of its retail network acr
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SOURCE China BCT Pharmacy Group, Inc.
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