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Lotus Pharmaceuticals, Inc. Announces Fourth Quarter and Fiscal Year 2007 Results
Date:4/17/2008

BEIJING, April 17 /Xinhua-PRNewswire-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) (''Lotus'' or the ''Company''), a pharmaceutical company in the People's Republic of China ("PRC"), today announced financial results for the fourth quarter and fiscal year ended December 31, 2007.

Fourth Quarter 2007 Highlights

-- Total revenues increased to $19.2 million, up 72.7% from the fourth

quarter of 2006

-- Gross profit reached $8.3 million, up 234% from the fourth quarter of

2006

-- Gross margin was 43.1%, up from 22.3% in the fourth quarter of 2006

-- Operating income totaled $3.4 million, up from a loss of $0.1 million

in the fourth quarter of 2006

-- Net income increased to $5.1 million, or $0.12 per diluted share, up

from a loss of $0.2 million, or ($0.00) per diluted share, in the

fourth quarter of 2006

-- Excluding non-cash debt financing costs and a gain from the forgiveness

of income and value-added taxes, adjusted net income was $3.4 million,

or $0.08 per fully diluted share

Full Year 2007 Highlights

-- Total revenues increased 57% in 2007 to $56.9 million

-- Gross profit increased 130% in 2007 to $23.2 million

-- Gross margin was 40.8%, up from 27.8% in 2006

-- Operating income increased 153% to $11.3 million

-- Net income increased to $11.2 million, or $0.26 per fully diluted share,

up from $4.1 million, or $0.10 per fully diluted share in 2006

-- Excluding non-cash debt financing costs and one-time financial items,

adjusted net income was $8.5 million, or $0.19 per fully diluted share,

up 34.3% from adjusted net income in 2006

''This was a very successful year for Lotus Pharmaceuticals, both in terms of financial performance and the execution of our strategic initiatives. We achieved significant growth in revenues, due in large part to our strateg
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SOURCE Lotus Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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