Navigation Links
Huifeng Bio-Pharmaceutical (HFGB) Reports Record Sales and Net Income
Date:11/21/2008

XI'AN, China, Nov. 21 /PRNewswire-FirstCall/ -- Huifeng Bio-Pharmaceutical Technology, Inc. (OTC Bulletin Board: HFGB), a leading developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, is pleased to announce record sales and earnings for the three and nine month periods ended September 30, 2008.

"We are pleased to announce that in the third quarter of 2008, Huifeng has managed to record both record sales and net income. Product revenue was over $3.5 million, representing an increase of 82% year over year. Net income in the quarter was $768 thousand, which equates to 4 cents per share and is an increase of 130% over the prior year's earnings."

According to Mr. Wang, the nine month earnings and sales figures also represent record levels for HFGB. Mr. Wang further stated that Net Income through 9 months was strong at eight cents per share, despite being negatively impacted by expenses related to the company's recent financing activity.

"Huifeng, despite the uncertain global economic environment, continues to execute to our strategic growth plan. The third quarter was a significant quarter for the Company as we not only reported record levels of income, but we closed on our first acquisition," said Mr. Wang.

Gross margins for Huifeng improved to 38%, up from last year's 28%. Strength in the Company's main product lines of Rutin, Diosmin, and L-Rhamnose continue to drive sales.

"We are very excited about the results of the third quarter and hope to build upon them going forward. COS approval is expected in the near future, allowing us to begin sales of Diosmin to our strategic partner Safic-Alcan of France. We are entering a very exciting phase of Huifeng's corporate development and are looking forward to demonstrating the strength of our quality platform and products throughout the remainder of FY 2008," concluded Mr. Wang.

About Huifeng Bio-Pharmaceutical Technology, Inc. (HFGB)

Huifeng Bio-Pharmaceutical Technology, Inc., located in Xi'an, People's Republic of China, develops and produces plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production. It is the leading Chinese producer of rutin and related plant-derived chemicals in a class called flavonoids, with medicinal and other beneficial properties. Founded in 2002, Huifeng uses proprietary patented processes to extract rutin more efficiently than traditional extraction techniques. The Company is diversifying its product lines through internal development, acquisition and cooperation with scientific research organizations. http://www.hfgb.cn/

    For more information, please contact:

     Dan Carlson, Primary Capital LLC
     Email: DCarlson@PrimaryLLC.com
     Kelly Black, CEO
     Premier Media Services, Inc.
     Tel: +1-480-649-8224

'/>"/>
SOURCE Huifeng Bio-Pharmaceutical Technology, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Huifeng Bio-Pharmaceutical (HFGB) Announces Participation in the 59th PHARMCHINA Expo
2. Skystar Bio-Pharmaceutical Announces Upcoming Interview With WallSt.net ( www.wallst.net )
3. China Shenghuo Announces Restated Results For Full Year 2007 & First Quarter 2008, Reports Results For Second & Third Quarter 2008
4. Nutraceutical Reports 2008 Fiscal Year End Results
5. Natural Nutrition Reports Comprehensive Income of $2,062,452 Through Third Quarter, 2008
6. Cyberonics Reports Strong Sales Growth and Profitability in Fiscal 2009 Second Quarter
7. Escalon(R) Reports First Quarter Fiscal 2009 Results
8. PreMD Inc. Reports Third Quarter Results and Appoints New Chief Financial Officer
9. PA Health Department Reports Southeast Regions First Lab-Confirmed Influenza Case of the Season
10. CDC Reports Drop in Adult Smoking, But Death Toll and Health Costs Are Still Growing; Congress, States Should Implement Proven Solutions
11. Nile Therapeutics, Inc. Reports 2008 Third Quarter Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/21/2017)... GA (PRWEB) , ... July 21, 2017 , ... ... asset protection and financial consultation services to families and business owners in the ... drive to raise support for children overcoming sexual assault and physical abuse. , ...
(Date:7/21/2017)... Helena, AL (PRWEB) , ... July 21, 2017 ... ... that offers insurance assistance and financial planning services to communities in the greater ... that promises to provide resources to underprivileged young people in the region. , ...
(Date:7/21/2017)... ... 21, 2017 , ... Hospital M&A activity slowed in the second quarter of ... acquisitions rose to 23 in the second quarter, up 15% from the 20 publicly ... announced deals in the year-ago second quarter. Only four of the transactions disclosed a ...
(Date:7/21/2017)... ... July 21, 2017 , ... ... a $5,000 grant from the C. R. Bard Foundation, Inc. to ... Somerset Hills , a service available through the nonprofit home care agency. Using ...
(Date:7/21/2017)... ... July 21, 2017 , ... West Dermatology is pleased ... Vu, PA-C. Beginning July 17, 2017, Ms. Vu will join West Dermatology’s large network ... experience in dermatology, skin cancer , and more. She graduated from the University ...
Breaking Medicine News(10 mins):
(Date:7/11/2017)...  Bayer has awarded grants totaling more than $2 million ... prestigious Bayer Hemophilia Awards Program (BHAP). Four U.S. clinicians and ... and Uniformed Services University of the Health Sciences in ... recipients were announced last night during a reception at the ... Berlin, Germany . ...
(Date:7/11/2017)... -- Dr. Echenberg, founder of Echenberg Institute, is announcing a new safe and ... painful intercourse and other painful pelvic pain conditions such as pelvic floor ... ... ... -based start-up company, VuVatech LLC, fills a void in the women,s ...
(Date:7/10/2017)... , July 10, 2017 The Institute ... test methods, is the recipient of a VITROCELL® inhalation ... PETA International Science Consortium. The device, which is designed ... to expose human lung cells to airborne test materials ... will use the VITROCELL® system for testing combustible tobacco ...
Breaking Medicine Technology: