NEW YORK, May 17 /PRNewswire-Asia/ -- Tiens Biotech Group (USA), Inc. (the "Company" or "Tiens", NYSE AMEX: TBV), http://www.tiens-bio.com , today announced financial results for the first quarter ended March 31, 2010.
Revenue for the first quarter of 2010 was $11.4 million, compared to $18.2 million for the first quarter of 2009.
Net income for the first quarter of 2010 was $3.6 million, or $0.05 per share, compared to $9.0 million, or $0.12 per share for 2009.
Revenue in China increased to $6.8 million for the first quarter of 2010,
compared to $2.7 million for the same period in 2009. The Company's 2010 first
quarter sales in China was, however, comparable to the 2009 average quarterly
sales in China of $6.8 million. Management believes that Tianshi Engineering's
announced plans to increase prices of its products during the third quarter of
2008 prompted customers to stock up on certain products in late 2008, thereby
decreasing customer demand in the first quarter of 2009. Revenue in
SOURCE Tiens Biotech Group (USA), Inc.
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