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China Botanic Pharmaceutical Reports Third-Quarter Fiscal Year 2011 Results
Date:9/15/2011

HARBIN, China, Sept. 15, 2011 /PRNewswire-Asia/ -- China Botanic Pharmaceutical Inc. (AMEX: CBP) ("China Botanic" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, today announced financial results for the three months ended July 31, 2011.

Third-Quarter 2011 Highlights and Recent Events

  • Net sales increased 33.6% year-over-year to $12.4 million
  • Gross profit increased 60.8% to $7.5 million from $4.6 million in the third quarter of fiscal year 2010
  • Gross margin increased to 60.3% from 50.1% a year ago
  • Net income rose 73.0% to $2.5 million or $0.07 per diluted share
  • The Company was named "High Integrity Enterprise" by a prominent industry group at the 2nd Session of Heilongjiang Pharmaceutical Integrity Enterprise Selection Committee, which is made up of government and trade association including Heilongjiang Integrity Promotion Association, Heilongjiang Food and Drug Administration, the Heilongjiang Pharmaceutical Industry Association.

  • "We are pleased to report double digit revenue and net income growth in the third quarter of fiscal year 2011. Our strong growth in sales, profitability, and operating cash flow during the quarter was largely driven by increase in our average selling prices and four new products introduced in the fourth quarter of fiscal year 2010," said Mr. Shaoming Li, Chairman and Chief Executive Officer of China Botanic.  "Our Siberian Ginseng products exhibited strong year-over-year sales growth and accounted for 50% of our total revenue in the third quarter of fiscal year 2011 compared with 44% in the same period of last year.  This reflected our continued commitment to create awareness and promote our premier product, the Siberian Ginseng Series, and i
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    SOURCE China Botanic Pharmaceutical Inc.
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