NEW YORK and HAIKOU CITY, China, Aug. 6 /Xinhua-PRNewswire-FirstCall/
-- China Pharma Holdings, Inc. ("China Pharma") (OTC Bulletin Board: CPHI)
which develops, manufactures, and markets generic and branded
bio-pharmaceutical products in China, today announced its financial results
for the second quarter of 2008.
Second Quarter 2008 Highlights
-- Second quarter revenues increased 31.6% to $11.28 million
-- Net income increases 21.32% to $4.04 million
-- Sales of bio-product Cerebroprotein increased 125.26% year-over-year.
-- EPS was $0.10, up 15.92% year-over-year
First Half Year 2008 Highlights
-- Revenue increased 45.51% for the same period in 2007 to $23 million
-- Net income was $8.23 million, up 44.34% for the same period in 2007
-- EPS was $0.22, up 39.25% for the same period in 2007
-- Company completed capital raise of $10 million
-- Company launched Bumetanide injection in June 2008
Second Quarter of 2008 Results (Unaudited):
Revenues for the second quarter of 2008 increased 31.6% to $11.3 million compared to $8.6 million for the same quarter in 2007. The growth in revenues was primarily due to organic growth of the existing product portfolio and increasing overall enhanced marketing efforts.
Quarterly gross profit for the second quarter of 2008 was $6 million, compared to $3.9 million for the same period last year, with gross margins of 52.8% and 45.5% respectively. The increase of gross margins was favorably impacted by the increase of revenues of our high margin products. The increase in gross margin reflected the management's clear vision of product selection and development.
Total operating expenses for the three months ended June 30, 2008 were
$1.6 million compared to $0.53 million for the same period last year,
mainly due to increased revenue and operating expenses. Selling expenses
for the period increased to approximately $0.46 million from
|SOURCE China Pharma Holdings, Inc.|
Copyright©2008 PR Newswire.
All rights reserved