Navigation Links
Sinobiopharma Reports a 41% Increase in Revenues From Unaudited Financial Results for the 9 Month Period Ended February 28, 2009
Date:4/24/2009

NANTONG CITY, China, April 24 /PRNewswire-FirstCall/ -- Sinobiopharma, Inc. (OTC Bulletin Board: SNBP) ("Sinobiopharma" or, the "Company") is pleased to report financial highlights from the unaudited financial results for the nine month period ended February 28, 2009.

Financial highlights include:

  • Sales revenue increased to US $2,715,702 for the nine months ended February 28, 2009, from US $1,170,677 in the corresponding period ended February 29, 2008.
  • Gross profit increased to US $1,815,491, representing 67% of sales revenue, for the nine months ended February 28, 2009, from US $435,666, representing 37% of revenue, in the corresponding period ended February 29, 2008.
  • Net profit of the Company's wholly owned operating subsidiary, Dong Ying (Jiangsu) Pharmaceutical Co., Ltd., increased to US $851,324, representing 27% of sales revenue, for the nine months ended February 28, 2009, from - US $ 96,335 in the corresponding period ended February 29, 2008. However, the Company's overall net loss increased to US $1,622,692 for the nine months ended February 28, 2009, from US $444,672 for the nine months ended February 29, 2008, of which one of the main expenses affecting the results of operations was the stock-based compensation expense of US $1,944,750 reflecting the vesting of stock options granted by the Company having an exercise price of $1.80 per share.
  • Increase in sales volume and the improvement in gross profit percentage are both due to growth in sales of Cisatracurium Besylate, a skeletal muscle relaxant. Sales of this product increased to US $2,511,752 in the nine months ended February 28, 2009, from US $765,615 in the nine months ended February 29, 2008. At the same time, as volume has increased, cost of manufacturing Cisatracurium Besylate has decreased to 30% of its price for the nine months ended February 28, 2009, from 64% of its price for the nine months ended February 29, 2008.

"The significant increases in sales revenue as well as gross and net profit indicate not only the growing success of Sinobiopharma's products in the marketplace, but also the Company's improved performance in producing and distributing them more cost-effectively," said Mr. Lequn Huang, President and CEO of Sinobiopharma.

About Sinobiopharma

Sinobiopharma, Inc. is a fully integrated and highly innovative biotechnology 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. Sinobiopharma Reports Financial Highlights for Six-Month Period Ending November 30, 2008
2. Sinobiopharma Signs Export Agreement With U.S. Pharmaceutical Supplier
3. Sinobiopharma, Inc. Appoints New Director of Marketing
4. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
5. QMed, Inc. Reports July Medicare SNP Enrollments
6. Phlo Affiliate Reports Expanded Coverage to Oregon Border
7. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
8. Dragon Pharmaceutical Reports Growth in Sales and Profits during Second Quarter of 2007
9. Carrington Reports Second Quarter 2007 Results
10. Avitar Reports Third Quarter Financial Results for Fiscal 2007
11. Response Genetics Reports Second Quarter 2007 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... NC (PRWEB) , ... June 23, 2016 , ... In ... University Hospital in Denmark detail how a patient who developed lymphedema after being treated ... tissue. The results could change the paradigm for dealing with this debilitating, frequent side ...
(Date:6/23/2016)... 2016  Blueprint Bio, a company dedicated to identifying, ... community, has closed its Series A funding round, according ... "We have received a commitment from Forentis Fund ... to meet our current goals," stated Matthew Nunez ... to complete validation on the current projects in our ...
(Date:6/23/2016)... On Wednesday, June 22, 2016, the NASDAQ Composite ... Jones Industrial Average edged 0.27% lower to finish at 17,780.83; ... has initiated coverage on the following equities: Infinity Pharmaceuticals Inc. ... NKTR ), Aralez Pharmaceuticals Inc. (NASDAQ: ARLZ ), ... more about these stocks by accessing their free trade alerts ...
(Date:6/23/2016)... ... June 23, 2016 , ... ... and technical consulting, provides a free webinar on Performing Quality Investigations: ... 2016 at 12pm CT at no charge. , Incomplete investigations are still a ...
Breaking Biology Technology:
(Date:6/16/2016)... , June 16, 2016 ... is expected to reach USD 1.83 billion by ... View Research, Inc. Technological proliferation and increasing demand ... are expected to drive the market growth. ... The development of advanced multimodal techniques ...
(Date:6/9/2016)... 2016 Paris Police Prefecture ... security solution to ensure the safety of people and operations ... the major tournament Teleste, an international technology group ... announced today that its video security solution will be utilised ... up public safety across the country. The system roll-out is ...
(Date:6/2/2016)... LONDON , June 2, 2016 ... has awarded the 44 million US Dollar project, ... Security Embossed Vehicle Plates including Personalization, Enrolment, and IT Infrastructure ... world leader in the production and implementation of Identity Management ... in January, however Decatur was selected ...
Breaking Biology News(10 mins):