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:6/26/2016)... , ... June 26, 2016 , ... On June 10-11, ... of the 2016 Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, ... the city’s history as home to some of the world’s leading providers of cereal ...
(Date:6/26/2016)... ... ... legally blind and certified personal trainer is helping to develop a weight loss fitness plan ... fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... ... 2016 , ... Austin residents seeking Mohs surgery services, can now turn to ... Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to ... fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of ...
(Date:6/25/2016)... , ... June 25, 2016 , ... First Choice ... States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm ... Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical ...
(Date:6/25/2016)... ... , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department ... in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness at ... Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of 42 ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 23, 2016  In a startling report released today, National ... by lacking a comprehensive, proven plan to eliminate prescription opioid overdoses. ... of how states are tackling the worst drug crisis in recorded ... – Kentucky , New Mexico ... . Of the 28 failing states, three – Michigan ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
(Date:6/23/2016)... MOUNTAIN VIEW, Calif. , June 23, 2016 ... 9:00 a.m. CST on Thursday, July 7, 2016 , , ... kayla.belcher@frost.com ) , , , , EXPERT PANELISTS:  ... Sciences, Nitin Naik; Senior Industry Analyst, Christi Bird; Senior Industry Analyst, ... The global pharmaceutical industry is witnessing ...
Breaking Medicine Technology: