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China Biologic Reports Financial Results for the Second Quarter of 2014
Date:8/5/2014

BEIJING, Aug. 5, 2014 /PRNewswire/ -- China Biologic Products, Inc. (NASDAQ: CBPO, "China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced its unaudited financial results for the second quarter of 2014.

Second Quarter 2014 Financial Highlights

  • Total sales in the second quarter of 2014 increased by 12.1% to $60.1 million from $53.6 million in the same quarter of 2013.
  • Gross profit increased by 9.9% to $41.2 million from $37.5 million in the same quarter of 2013. Gross margin stood at 68.5% in the second quarter of 2014, compared to 69.9% in the second quarter of 2013.
  • Income from operations increased by 14.2% to $28.9 million from $25.3 million in the same quarter of 2013. Operating margin increased to 48.1% in the second quarter of 2014 from 47.2% in the same quarter of 2013.
  • Net income attributable to the Company increased by 21.6% to $19.7 million from $16.2 million in the same quarter of 2013. Fully diluted net income per share was $0.79 in the second quarter of 2014 as compared to $0.57 in the same quarter of 2013.
  • Non-GAAP adjusted net income attributable to the Company was $20.5 million, representing a 17.9% increase from $17.4 million in the same quarter of 2013. Non-GAAP adjusted net income per share was $0.82, compared to $0.62 in the same quarter of 2013.
  • Mr. David (Xiaoying) Gao, Chairman and Chief Executive Officer of China Biologic, commented, "We are pleased to report another healthy quarter, with sales and net income both achieving double-digit growth. During the quarter, market demand for plasma products remained strong and we continued to make progress with our penetration into first-tier markets. Guizhou Taibang has resumed production which we believe will contribute to increased sales of plasma-based products in the second half of the year."

    Mr. Gao continued, "We are encouraged by our outlook fo
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    SOURCE China Biologic Products, Inc.
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