Navigation Links
Sinobiopharma Reports Highlights From Audited Financial Results for the Fiscal Year Ended May 31, 2009
Date:9/23/2009

NANTONG CITY, China, Sept. 23 /PRNewswire-Asia-FirstCall/ -- Sinobiopharma, Inc. ("Sinobiopharma" or the "Company") is pleased to report financial highlights from the audited financial results for the fiscal year ended May 31, 2009.

    Financial highlights include:
    -- Sales revenue increased to US$3,850,278 for the 12 months ended May 31,
       2009, from US$1,810,318 in the corresponding period ended May 31, 2008,
       a year-over-year increase of 112.69 percent.

    -- Gross profit increased to US$2,538,441, representing 66 percent of
       sales revenue, for the 12 months ended May 31, 2009, from US$580,915,
       representing 32 percent of revenue, in the corresponding period ended
       May 31, 2008.

    -- Net profit of the Company's wholly owned operating subsidiary, Dong
       Ying (Jiangsu) Pharmaceutical Co., Ltd., increased to US$1,019,507
       representing 26% of sales revenue, for the 12 months ended May 31, 2009,
       from -US$199,306 in the corresponding period ended May 31, 2008, a
       year-over-year increase of more than 400 percent.  However, the
       Company's overall net loss increased to US$2,140,237 for the 12 months
       ended May 31, 2009, of which one of the main expenses affecting the
       results of operations was the stock-based compensation charge of
       US$2,917,125, reflecting the vesting of stock options granted by the
       Company and professional fee of public company administration (audit,
       legal, etc.) of US$270,518.

    -- Increase in sales volume and the improvement in gross profit percentage
       are both due to growth in sales of Cisatracurium Besylate, a pre-
       surgical skeletal muscle relaxant.  Sales of this product increased to
       US$3,595,031 in the 12 months ended May 31, 2009, from US$1,364,165 in
       the 12 months ended May 31, 2008.  At the same time, as volume has
       increased, cost of manufacturing Cisatracurium Besylate has decreased
       to 29 percent of its price for the 12 months ended May 31, 2009, from
       47 percent of its price for the 12 months ended May 31, 2008.

"The significant increases in sales revenue as well as gross and net profit -- achieved despite sustained economic turmoil and without any funds raised in the last fiscal year -- speak well to the growing success of Sinobiopharma's products in the marketplace and the Company's improved ability to produce and distribute them more cost-effectively," said Dr. Lequn Lee Huang, Sinobiopharma's President and CEO.

About Sinobiopharma

Sinobiopharma, Inc. is a fully integrated and highly innovative specialty biopharmaceutical company engaged in the research and development, manufacture and marketing of biopharmaceutical products in China, the world's fastest growing pharmaceutical market. Known as Dong Ying (Jiangsu) Pharmaceutical Co., Ltd. in China, the Company's current therapeutic focus is on anesthesia-assisted agents and cardiovascular drugs.

FORWARD LOOKING STATEMENTS

This news release may include "forward-looking statements" regarding Sinobiopharma, Inc., and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Sinobiopharma, Inc. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Sinobiopharma, Inc. does not undertake any obligation to update any forward looking statement, except as required under applicable law.


'/>"/>
SOURCE Sinobiopharma, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Emissary Capital Group Initiates Coverage on Sinobiopharma
2. Sinobiopharma Applies For Two Chinese Patents For Cisatracurium Besylate
3. Sinobiopharma Updates on Progress; Projects Increases in Sales and Revenues In 2009
4. Sinobiopharma Announces SFDA Approval of Anti-Hypertension Drug Perindopril
5. Sinobiopharma Secures Rights to Seven Key Patents
6. Sinobiopharma Reports a 141% Increase in Revenues From Unaudited Financial Results for the 9 Month Period Ended February 28, 2009
7. Sinobiopharma Reports a 41% Increase in Revenues From Unaudited Financial Results for the 9 Month Period Ended February 28, 2009
8. Sinobiopharma, Inc. Appoints New Director of Marketing
9. Sinobiopharma Signs Export Agreement With U.S. Pharmaceutical Supplier
10. Sinobiopharma Reports Financial Highlights for Six-Month Period Ending November 30, 2008
11. Economic Strength of Hawaii Seed Crop Industry Confirmed by Recent Reports
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... 29, 2016 According to ... Research "Separation Systems for Commercial Biotechnology Market - ... Forecast 2015 - 2023", the separation systems for ... Mn in 2014 and is projected to expand ... 2023 to reach US$ 19,227.8 Mn in 2023. ...
(Date:4/28/2016)... , April 28, 2016 The ... and Brayton Cryocoolers), Service (Technical Support, Product Repairs & ... - Global Forecast to 2022", published by MarketsandMarkets, the ... Billion by 2022, at a CAGR of 7.29% between ... data Tables and 94 Figures spread through 159 Pages ...
(Date:4/28/2016)... ... April 28, 2016 , ... Morris Midwest ( http://www.morrismidwest.com ), ... manufacturers at its Maple Grove, Minnesota technical center, May 11-12. The event ... Almost 20 leading suppliers of tooling, accessories, software and other related technology ...
(Date:4/27/2016)... Columbia , April 27, 2016 ... "NanoStruck") (CSE: NSK) (OTCPink: NSKQB) ( Frankfurt ... Anschluss an ihre Pressemitteilung vom 13. August 2015 ... hat, ihre Finanzen um zusätzliche 200.000.000 Einheiten auf ... Kanadische Dollar zu bringen. Davon wurden 157.900.000 Einheiten ...
Breaking Biology Technology:
(Date:5/3/2016)... VILNIUS, Lithuania , May 3, 2016 /PRNewswire/ ... today released the MegaMatcher Automated Biometric Identification ... deployment of large-scale multi-biometric projects. MegaMatcher ABIS can ... and accuracy using any combination of fingerprint, face ... of MegaMatcher SDK and MegaMatcher ...
(Date:4/28/2016)... India , April 28, 2016 ... Infosys (NYSE: INFY ), and Samsung SDS, a ... that will provide end customers with a more secure, ... services.      (Logo: http://photos.prnewswire.com/prnh/20130122/589162 ) , ... services, but it also plays a fundamental part in enabling ...
(Date:4/28/2016)... First quarter 2016:   , Revenues amounted to ... of 2015 The gross margin was 49% (27) ... operating margin was 40% (-13) Earnings per share rose ... was SEK 249.9 M (21.2) , Outlook   ... The operating margin for 2016 is estimated to exceed ...
Breaking Biology News(10 mins):