American Oriental Bioengineering Reports Second Quarter 2008 Financi... ( -- Revenue Increased 74.0%...)

American Oriental Bioengineering Reports Second Quarter 2008 Financial Results

Date:8/11/2008

-- Revenue Increased 74.0% to $59.0 Million in 2Q08 --

-- 2Q08 Net Income Increased 43.4% to $13.9 Million --

-- 2Q08 Diluted EPS $0.18 versus 2Q07 Diluted EPS $0.15 --

NEW YORK, Aug. 11 /Xinhua-PRNewswire-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter (''OTC'') products in China, today announced financial results for the quarter ended June 30, 2008.

Revenue in the second quarter of 2008 increased 74.0% year over year to $59.0 million from $33.9 million, reflecting a continued increase in demand for the Company's OTC and prescription pharmaceutical products. Revenue from pharmaceutical products increased 91.5% to $49.8 million from $26.0 million in the second quarter of 2007. Revenue from OTC pharmaceutical products increased 102.9% to $29.4 million from $14.5 million in the prior year's second quarter, reflecting continued recognition of the Company's new products supported by effective marketing campaigns. Sales generated by CCXA and Boke, which were not subsidiaries in the second quarter of 2007, were major contributors to the increase in OTC sales and generated a combined $13.4 million of revenue during the second quarter of 2008. Strong sales of the Jinji series and Jinji Yimucao products also contributed to the increase in OTC revenue during the second quarter of 2008. Prescription pharmaceutical products generated $20.4 million in revenue during the second quarter of 2008, a 77.2% year over year increase, driven by sales of Shuanghuanglian Injection Powder and Cease Enuresis Soft Gel. We believe that our
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SOURCE American Oriental Bioengineering, Inc.
Copyright©2008 PR Newswire.
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American Oriental Bioengineering Reports Second Quarter 2008 Financi...( -- Revenue Increased 74.0%...),Health