Net Income increased 225.7% year-over-year to $2.3 million or 11 cents per
TAI'AN CITY, Shandong, China, Nov. 15 /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (Pink Sheets: CBPO) ("CBP", "the Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today reported record financial results for the third quarter ended on September 30, 2007.
Third Quarter 2007 Highlights
-- Revenues increased 48.8% year-over-year to a record $8.9 million
-- Gross profits increased 79.7% to $6.7 million over the third quarter of
-- Operating income totaled $3.6 million, up 106.9% over the third quarter
-- Net income was up 225.7% year-over-year to $2.3 million or $0.11 per
"During the quarter we continued to see strong demand for our plasma based products due to increased purchasing power and health consciousness of Chinese consumers although unit prices have increased greatly," said Mr. Stanley Wong, CEO of China Biologic Products, "In addition, we have taken advantage of the favorable industry environment to improve our production facilities and to accelerate the pace of developing new drugs."
Third Quarter 2007 Results
Revenues for the three months ended September 30, 2007 were $8.9
million, up 48.8% as compared to $6.0 million for the same period of 2006.
The increase was primarily due to the rise in unit prices of plasma based
products, although the Company's unit sales volumes declined. During the
third quarter of 2007, unit prices of the Company's main products
experienced growth ranging from 8.1% to 424.5% year over year. The
situation of unit prices rising combined with the drop in volumes was a
result of the PRC government's stringent controls on quality in the plasma
based production industry. The Company is expected to adjust its production
plans and to utiliz
|SOURCE China Biologic Products, Inc.|
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