Navigation Links
China Medicine Announces Strong Second Quarter 2008 Results
Date:8/13/2008

ion in first half of 2007. Gross profit increased 58.1% to $6.5 million in the first six months of 2008, versus $4.1 million in the first six month of 2007. Gross margin was 34.6% in the first half of 2008 compared to 30.6% during the first half of 2007. Operating income in the first half of 2008 grew 84.3% to $4.4 million compared to $2.4 million in the first half 2007. Net income for the first six months of 2008 was $3.6 million or $0.23 per diluted share, up 92.6% from $1.9 million, or $0.15 per diluted share in the first half of 2007.

Financial Condition

As of June 30, 2008, China Medicine had approximately $34.2 million in working capital, an increase of 20% from $28.5 million as of December 31, 2007. Also as of June 30, 2008, China Medicine had $2.8 million in cash and cash equivalents, a decrease of 51.7% from $5.8 million as of December 31, 2007. For the six months ended June 30, 2008, cash used in operating activities was $2.99 million, compared to $3.1 million for the six months ended 2007. Cash used in operating activities is largely related to the Company's account receivable and advance payments to suppliers. Stockholders' equity as of June 30, 2008 was $37.0 million, an increase of 20% over the $30.9 million recorded as of December 31, 2007.

Business Outlook

China Medicine is actively expanding its product portfolio to include higher margin products in order to increase profitability. In the first half of 2008, the Company maintained distribution rights, through the Guangdong Sunshine Medicine Public Internet Bidding System, to sell all pharmaceutical products included in its current catalogue. This enables the Company to increase gross margin since it reduces expenses tied to introducing new products into the market.

During the quarter, China Medicine also achieved a major milestone in obtaining a patent for recombinant aflatoxin-detoxifizyme (rADTZ) in Australia that is valid through January 13, 2025. This is in add
'/>"/>

SOURCE China Medicine Corporation
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11

Related biology technology :

1. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
2. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
3. China Medical Technologies to Participate in the Morgan Stanleys 2007 China Medical Corporate Day
4. China-Biotics, Inc. Signs Intention Agreement to Supply Probiotics to Bright Dairy & Food Co., Ltd.
5. China Technology Announces New Chief Financial Officer
6. China Medical Technologies Reports First Quarter Financial Results
7. China Medical Technologies to Participate in Credit Suisses 2007 Asian Technology Conference
8. China Technology Announces Entry to the Solar Energy Sector
9. China Sky One Medical Receives $1.5 Million Government Grant to Further Develop Six New Cancer Products
10. Kiwa Bio-Tech Named Recommended Brand by the China Green Food Association
11. China Kangtai Cactus Biotech, Inc. Announces Plans for New Product Launch
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/22/2014)... (PRWEB) November 21, 2014 Prominent ... investors will gather on December 3rd at Genetic ... Conferences series. GeneticRx will take place at the ... School and will discuss the present and future ... exon skipping, and gene editing—as well as the ...
(Date:11/22/2014)... November 22, 2014 Respiratory therapy ... the proper management of life-like respiratory ailments using ... devices . Grand Rapids-based, Michigan Instruments Inc. developers ... two of the respiratory simulation units to the ... Grand Valley and Muskegon Community College are collaborating ...
(Date:11/21/2014)... 2014 The science of light and ... with more than 200 primary students in a traveling ... University of Otago Physics Department and funded by an ... members of the university’s OSA/SPIE Student Chapter visited six ... giving children from small, rural schools hands-on lessons in ...
(Date:11/21/2014)... November 20, 2014 The November 2014 ... as an open access journal featuring the following articles:, ... proteins to preserve photoresponsiveness in the retina , ... in situ hybridization using chromogenic substrates in zebrafish , ... RNA, and protein electrophoresis , Nuclear LC3-positive ...
Breaking Biology Technology:Pioneering Academics and Key Industry Leaders to Discuss Rare Diseases and the Emergence of New Genetic Medicines at Genetic Rx on December 3rd 2Michigan Instruments Donates Two Respiratory Simulation Training and Test Lung (TTL) Devices to Grand Valley State University 2Michigan Instruments Donates Two Respiratory Simulation Training and Test Lung (TTL) Devices to Grand Valley State University 3Optics and photonics outreach programs share science, spark fascination with light 2Optics and photonics outreach programs share science, spark fascination with light 3BioTechniques: The International Journal of Life Science Methods Announces the Publication of the November 2014 Issue—Available in Print and Online 2BioTechniques: The International Journal of Life Science Methods Announces the Publication of the November 2014 Issue—Available in Print and Online 3
... be the nation,s next "Strontium Valley"? The University of Pittsburgh ... the National Science Foundation and the Nanoelectronics Research Initiative (NRI) ... kind of computer out of the lab and into the ... Levy, a professor of physics and astronomy in Pitt,s School ...
... 19, 2011 Reportlinker.com announces that a ... its catalogue: Established and ... http://www.reportlinker.com/p0618133/Established-and-Emerging-Biotech-Clusters.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Biotechnology There has ... clusters of biotechnology companies and related organizations. ...
... HAYWARD, Calif., Sept. 19, 2011 OptiScan Biomedical ... systems for use in intensive care units (ICU), ... Glucose Monitoring System has received CE Mark certification ... Mark certifies that the OptiScanner has met all ...
Cached Biology Technology:Post-silicon computing 2Post-silicon computing 3Post-silicon computing 4Established and Emerging Biotech Clusters 2Established and Emerging Biotech Clusters 3Established and Emerging Biotech Clusters 4Established and Emerging Biotech Clusters 5Established and Emerging Biotech Clusters 6Established and Emerging Biotech Clusters 7Established and Emerging Biotech Clusters 8OptiScan Biomedical Receives CE Mark for OptiScanner Automatic Bedside Glucose Monitoring System 2OptiScan Biomedical Receives CE Mark for OptiScanner Automatic Bedside Glucose Monitoring System 3OptiScan Biomedical Receives CE Mark for OptiScanner Automatic Bedside Glucose Monitoring System 4
(Date:11/4/2014)... research study examining only marketing directed at children ... restaurants has found that the majority of black, ... such marketing tactics. , Authored by Arizona State ... study is the first to examine the use ... of fast food restaurants and its relationship to ...
(Date:11/3/2014)... , Nov. 3, 2014 Research and ... "Cell Therapy - Technologies, Markets and Companies" to ... cell therapy technologies and methods, which have already started to ... stem cell transplantation is replacing the old fashioned bone marrow ... Cell therapy is bound to become a part of medical ...
(Date:11/2/2014)... Physics World , James Dacey explores the ways in ... take their innovations from the lab into the commercial ... all start-up companies as they move from prototype to ... main factors: physics-based inventions are usually far from market-ready ... be a lot more complicated than had been originally ...
Breaking Biology News(10 mins):Fast food marketing for children disproportionately affects certain communities 2Fast food marketing for children disproportionately affects certain communities 3Global Cell Therapy - Technologies, Markets and Companies: 2014 Report 2Global Cell Therapy - Technologies, Markets and Companies: 2014 Report 3The 'valley of death' facing physics start-ups 2
... the genetic identity of human immunodeficiency virus (HIV), the ... The finding provides important clues in the ongoing search ... University of Alabama at Birmingham (UAB). The UAB team ... few lead to sexual transmission. Earlier studies have ...
... of experts in biomechanics and physiology from six ... Massachusetts Institute of Technologys Media Lab, refute scientific ... a 21-year-old South African bilateral amputee track athlete, ... 400-meter race. Their conclusions were based on data ...
... Evolution is supposed to inch forward over eons, but ... called the threespine stickleback, the process can go in relative ... Fred Hutchinson Cancer Research Center and published online ahead of ... Press). , There are not many documented examples of reverse ...
Cached Biology News:HIV infection stems from few viruses 2Breaking news: Study revives Olympic prospects for amputee sprinter 2Breaking news: Study revives Olympic prospects for amputee sprinter 3Researchers document rapid, dramatic 'reverse evolution' in the threespine stickleback fish 2Researchers document rapid, dramatic 'reverse evolution' in the threespine stickleback fish 3
... Pulser Xcell microbial system, 100 to ... for electroporation of bacterial and fungal ... unit, PC module for exponential decay ... cuvettes (5 each of 0.1 and ...
... solution. In PBS containing ... other proprietary stabilizers; 0.2 ... to stabilize activity of ... at high conjugate dilutions ...
... Pulser Xcell eukaryotic system, 100 ... is used for electroporation of ... the main unit, CE module ... or square-wave pulses, ShockPod shocking ...
... on Macintosh operating systems to predict ... sequence up to 3,200 bases, which ... and GC clamps for mutation detection ... constant denaturing gel electrophoresis (CDGE), and ...
Biology Products: