Net cash used in investing activities in the first quarter 2012 was $2.6 million, primarily for the acquisition of property, plant, and equipment and intangibles, and advances on non-current assets.
Net cash used in financing activities in the first quarter 2012 totaled $10.7 million, primarily for the $6.4 million repayment of a short-term bank loan and a $4.4 million dividend paid by our subsidiaries to the noncontrolling interest shareholders.
As a result, including the effects of foreign currency exchange rate changes on cash, China Biologic's cash decreased $4.4 million in the first quarter 2012. Cash totaled $85.0 million as of March 31, 2012.
As of March 31, 2012, total shareholders' equity was $150.4 million, working capital (current assets minus current liabilities) was $133.6 million, and the current ratio (current assets divided by current liabilities) was 3.5 times.
The Company believes it has sufficient cash on hand and continuing positive cash inflow from the sale of its plasma-based products in the Chinese market for its operations. Conference callChina Biologic will host a dial-in conference call at 8:00 a.m. EDT (New York) on May 9, 2012 (which is 8:00 p.m. in Beijing and Hong Kong on the same day), to discuss its results for the first quarter 2012. To participate in the conference call, please dial the appropriate number about 10 minutes prior to the scheduled conference call time.
The dial-in details for the live conference call are:
U.S. toll-free number+1 866 549 1292U.K. toll-free number+0 800 279 7818Mainland China toll-free n
|SOURCE China Biologic Products, Inc.|
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