LAIYANG, China, Sept. 8 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO) (the "Company", "Jiangbo"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today reaffirmed its previously announced guidance for fiscal year 2009. The Company expects to meet or exceed its goals of $111 to $116 million in revenue and operating income of $40 to $43 million for the fiscal year ending June 30, 2009.
"We plan to report our annual results for the fiscal year 2009 by the end of this month and are pleased to reaffirm we are on track to achieve our financial goals," said Mr. Wubo Cao, Chief Executive Officer of Jiangbo. "We continue to revamp the production lines which we acquired from Hongrui earlier this year. We expect this project to be completed in May 2010, when we should be able to begin mass production of other profitable TCM products. Thus, we continue to feel confident in maintaining a healthy growth rate over the long term."
About Jiangbo Pharmaceuticals, Inc.
Jiangbo Pharmaceuticals, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong province. Jiangbo is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. http://www.jiangbopharma.com
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|SOURCE Jiangbo Pharmaceuticals, Inc.|
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