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Biostar Pharmaceuticals, Inc. Announces Record Third Quarter 2009 Financial Results
Date:11/12/2009

XIANYANG, China, Nov. 12 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM) ("Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced financial results the third quarter ended September 30, 2009.


    SUMMARY FINANCIALS

    Third Quarter 2009 Results
                             Q3 2009           Q3 2008            CHANGE
    Net Sales             $15.6 million     $7.5 million          +106.3%
    Gross Profit          $12.0 million     $3.8 million          +216.3%
    Net Income             $3.1 million     $0.6 million          +459.2%
    EPS (Fully Diluted)           $0.13            $0.02          +550.0%


    Nine Month 2009 Results
                          First 9M 2009     First 9M 2008         CHANGE
    Net Sales             $36.2 million     $23.8 million          +52.5%
    Gross Profit          $26.5 million     $13.3 million          +98.5%
    Net Income             $8.8 million      $4.1 million         +112.9%
    EPS (Fully Diluted)           $0.37             $0.18         +105.6%

Third Quarter 2009 Financial Results

Revenue for the third quarter of 2009 increased 106.3% to approximately $15.6 million compared to $7.5 million for the third quarter of 2008. The increase in revenue was primarily due to Biostar's flagship product, Xin Aoxing Oleanolic Acid Capsule ("Xin Aoxing") which accounted for 76.9% of the Company's revenues during the quarter. For the third quarter of 2009, the sales of Xin Aoxing increased 200.6% to $12.0 million with a gross margin of 84.1%, compared to $4.0 million in the third quarter of 2008. The increase was driven by Xin Aoxing penetrating a new province through local wholesalers in the third quarter of 2009 in addition to initiating sales in two provinces in the second quarter of
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SOURCE Biostar Pharmaceuticals, Inc.
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