- Second Quarter Revenue Increased 69.8% to $7.7 million
- Gross Margins Increased from 37% to 41%
- Second Quarter Net Income Increased 67.5% to $1.7 million - First Six Months Revenues Increased 82% to $14.9 million and Net Income
Increased 65% to $3.2 million for the Same Period - Growth Driven by New Distribution Partners and Increased Demand for
CHENGDU, China, Feb. 14 /Xinhua-PRNewswire-FirstCall/ -- Tianyin Pharmaceutical, Inc., (OTC Bulletin Board: VSCO), a manufacturer and supplier of modernized traditional Chinese medicine (TCM) based in Chengdu, China, today announced fiscal results for its second quarter ending December 31, 2007.
Total revenue for the second quarter of 2008 increased 69.8% to approximately $7.7 million compared to approximately $4.3 million for the second quarter of 2007. Cost of goods sold for the second quarter of 2008 was approximately $4.6 million, yielding a gross profit of approximately $3.2 million and gross margins of 41%, compared to approximately $1.6 million in gross profit at a gross margin of 37.2% during the second quarter of 2007.
Operating income for the second quarter of 2008 totaled approximately $2 million, representing a 68% increase from the $1.2 million reported for the second quarter of 2007 and was directly related to the increase in revenues. Operating margins were 25.5% and 27.1% for the second quarter of 2008 and 2007, respectively.
For the second quarter of 2008, net income was approximately $1.7 million, an increase of 67.5% from $986,317 recorded during the second quarter of 2007. The Company incurred taxes of $300,000 and $160,000 for the second quarter of 2008 and 2007, respectively, which equated to an effective tax rate of 15% and 13.6%. Tianyin had 14.6 million shares outstanding on February 12, 2008.
Tianyin has experienced significant growth over the previous per
|SOURCE Tianyin Pharmaceutical, Inc.|
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