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China Biologic Reports Financial Results for the Second Quarter and First Half of 2013
Date:8/6/2013

me period of 2012. Net margins were 28.9% and 26.4% for the six months ended June 30, 2013 and 2012, respectively.

Non-GAAP adjusted net income attributable to the Company was $33.8 million or $1.21 per diluted share for the six months ended June 30, 2013 compared with $26.0 million or $0.98 per diluted share in the same period of 2012.

Non-GAAP adjusted net income and diluted earnings per share in the six months ended June 30, 2013 excluded $2.7 million of non-cash employee share-based compensation expenses.

As of June 30, 2013, the Company had cash and cash equivalents of $147.3 million, compared to $129.6 million as of December 31, 2012.

Net cash provided by operating activities for the six months ended June 30, 2013 was $37.9 million, as compared to $32.1 million for the same period of 2012.

OutlookFor the full year of 2013, the Company reiterates its full year financial forecast of total sales in the range of $195 million to $205 million and full year non-GAAP adjusted net income in the range of $50 million to $53 million. This guidance assumes the production suspension at the Company's Guizhou facility, only organic growth and excludes acquisitions and necessarily assumes no significant adverse product price changes during 2013. Please note that the Company's 2013 financial outlook may be subject to change depending on market conditions and the GMP upgrade status at the Company's Guizhou Taibang facility.

This forecast reflects the Company's current and preliminary views, which are subject to change.

Conference CallThe Company will host a conference call at 7:30 am, Eastern Time on Wednesday, August 7, 2013, which is 7:30 pm, Beijing Time on August 7, 2013, to discuss second quarter 2013 results and answer questions from investors. Listeners may access the call by dialing 1-480-629-9664.

A live and archived webcast of the conference call will be available through the Company's investor rel
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SOURCE China Biologic Products, Inc.
Copyright©2012 PR Newswire.
All rights reserved

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