Simcere Pharmaceutical Group Reports Third Quarter 20...(2.7%from RMB22.1 million for the corresp...),Health

Date:11/5/2007

2.7% from RMB22.1 million for the corresponding period a year ago. General and administrative expenses as a percentage of the Company's total revenues increased to 11.8% in the third quarter of 2007 from 9.9% in the corresponding period of 2006. The increased expenses were primarily related to stock option expenses, staff costs and professional service fees associated with being a new public company. For the first nine months of 2007, general and administrative expenses were RMB115.3 million (US$15.4 million), an increase of 61.3% from RMB71.5 million in the corresponding period in 2006.

Share-based compensation expenses, which were allocated to research and development expenses, sales and marketing expenses, and general and administrative expenses, respectively, based on the nature of the work the Company's employees were assigned to perform, totaled RMB7.5 million (US$1.0 million) for the third quarter of 2007. For the first nine months of 2007, share-based compensation expense totaled RMB22.0 million (US$2.9 million).

Operating income was RMB60.2 million (US$8.0 million) for the third quarter of 2007, as compared to RMB44.2 million for the corresponding period of 2006. For the first nine months of 2007, operating income was RMB211.2 million (US$28.2 million), an increase of 55.5% as compared to RMB135.9 million in the corresponding period in 2006.

Net income was RMB73.1 million (US$9.8 million) for the third quarter of 2007, compared to RMB42.3 million in the corresponding period a year ago. The Company's net margin was 22.6% for the third quarter of 2007 compared to 18.9 % for the corresponding period a year ago. For the first nine months of 2007, net income was RMB223.2 million (US$29.8 million), an increase of 88.9% as compared to RMB118.1 million in the first nine months of 2006. Net income margin for the first nine months of 2007 was 22.5%, compared to 17.0 % in the corresponding period in 2006.

The basic earnings per ADS for the thir
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SOURCE Simcere Pharmaceutical Group Copyright©2007 PR Newswire. All rights reserved

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