NEW YORK, Aug. 14 /PRNewswire-Asia-FirstCall/ -- Tiens Biotech Group (USA), Inc. (the "Company" or "Tiens"; NYSE Amex: TBV), http://www.tiens-bio.com , today announced financial results for the second quarter and six months ended June 30, 2009.
Revenue for the second quarter of 2009 increased 4.6% to $20.6 million, compared to $19.7 million for the second quarter of 2008, reflecting an increase in sales in China.
Net income for the quarter rose 83% to $10.3 million, or $0.14 per share, compared to net income of $5.6 million, or $0.07 per share, for the 2008 second quarter.
For the second quarter of 2009, international revenue was $10.9 million, compared to $11.1 million for the same period in 2008. The decrease in international revenue was mainly due to a decrease in sales in the Europe-Asia region by $2.9 million in the second quarter of 2009, as compared to the second quarter of 2008. International sales continues to benefit from export restrictions having been reduced since China's Administration of Quality Supervision, Inspection and Quarantine completed in late 2008 its national campaign against unsafe food and substandard products, which adversely affected the Company's international sales in the first half of 2008.
For the second quarter of 2009, revenue in China was $9.7 million, an increase of 13.6% compared to $8.5 million for the same period in 2008. This increase in domestic revenue was due to increased marketing efforts in China.
For the six months ended June 30, 2009, revenue was $38.8 million, an
increase of 19.4% compared to $32.5 million for the same period in 2008. The
increase in revenue for the first six months of 2009 was primarily driven by
|SOURCE Tiens Biotech Group (|
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