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American Oriental Bioengineering Reports Third Quarter 2011 Financial Results
Date:11/14/2011

JERSEY CITY, N.J., Nov. 14, 2011 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB), (the "Company" or "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, today announced financial results for the third quarter ended September 30, 2011.

2011 Third Quarter Financial ResultsTotal Revenue for the third quarter of 2011 was $53.9 million, compared to $91.5 million in the same period of 2010. We strategically shift the products mix, decreasing the manufacturing of certain generic drugs from lower margin products toward higher-margin products in order to minimize the impact from the increased cost of certain raw materials and the continuing government price cut on certain products.

  • Revenue from manufacturing business was $49.1 million for the third quarter of 2011, compared to $ 87.5 million in the same period of 2010.

  • Revenue from pharmaceutical products was $40.3 million in the third quarter of 2011, compared to $77.2 million in the same period of 2010.
  • Revenue from nutraceutical products was $8.8 million in the third quarter of 2011, compared to $10.3 million in the same period of 2010.

  • Revenue from distribution business was $4.9 million for the third quarter of 2011, compared to $4.1 million in the same period of 2010.

  • Gross profit for the third quarter of 2011 was $25.2 million, compared to $47.3 million in the same period of 2010. Gross margin for the third quarter of 2011 was 46.7%, compared to 51.7% in the same period of 2010. The margin pressure was mainly caused by the increased costs of certain raw materials and newly levied urban construction and maintenance tax and educational surcharge to foreign invested companies in China si
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    SOURCE American Oriental Bioengineering, Inc.
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