HAIKOU CITY, China, May 11 /PRNewswire-Asia-FirstCall/ -- China Pharma Holdings, Inc. (NYSE AMEX: CPHI) ("China Pharma" or the "Company"), a leading fully-integrated specialty pharmaceuticals company in China, today announced financial results for the first quarter ended March 31, 2010.
First Quarter Highlights -- Revenue increased 16% to $15.1 million from $13.0 million in the first quarter of fiscal 2009 -- Gross profit grew 3% to $6.1 million from $5.9 million in the first quarter of fiscal 2009 -- Income from operations rose 19% to $4.8 million from $4.1 million in the 2009 period -- Net income climbed 17% to $4.3 million, or $0.10 per diluted share, from $3.7 million, or $0.09 per diluted share a year ago
"We are pleased to report a solid start to 2010 with healthy revenue and net income growth, in the first quarter," said China Pharma's President and CEO, Ms. Zhilin Li. "The strong revenue increase and healthy profit margins were partly driven by a continued increase in demand for our existing products and the successful launch of new products in the last twelve months. We look forward to accelerating this growth trajectory by increasing market penetration of key existing products and introducing new products to increase revenues and support a stable gross margin."
First Quarter Results
First quarter 2010 revenues grew 16% to $15.1 million from $13.0 million
in the first quarter 2009.
|SOURCE China Pharma Holdings, Inc.|
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