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China Botanic Reports First Quarter Fiscal 2012 Results
Date:3/19/2012

HARBIN, China, March 19, 2012 /PRNewswire-Asia/ -- China Botanic Pharmaceutical Inc. (NYSE AMEX: CBP) ("China Botanic" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and Traditional Chinese Medicines ("TCM") in China, today announced financial results for the three months ended January 31, 2012.

First Quarter 2012 Highlights

  • Net sales increased 24.4% year over year to $28.1 million
  • Gross profit increased 25.4% to $17.3 million from $13.8 million in the first quarter of fiscal 2011
  • Gross margin increased to 61.6% from 61.1% in the year ago period
  • Net income rose 12.4% to $12.3 million, or $0.33 per diluted share, from $10.9 million, or $0.29 per diluted share, in the first quarter of fiscal 2011

  • First Quarter Fiscal Year 2012 ResultsDuring the three months ended January 31, 2012, net revenue increased by 24.4% to $28.1 million from $22.6 million in the same period of 2011. The significant revenue growth was mainly due to price increases across all of the Company's products during the quarter and the increasing market recognition of the Company's Siberian Ginseng Series products and other new products, such as Ginseng and Venison Extract (launched in the fourth quarter of fiscal year 2010) and Badger Oil (launched in the first quarter of fiscal year 2011) as a result of China Botanic's marketing efforts. China Botanic is expecting to gain greater market acceptance in 2012 and beyond and anticipates that market demand for its products will continue to grow.

    Gross profit increased 25.4% to $17.3 million compared to $13.8 million in the first quarter of fiscal 2011. Gross margin increased to 61.6% as compared to 61.1% in the same period last year. T
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    SOURCE China Botanic Pharmaceutical Inc.
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