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China Pharma Holdings, Inc. Reports Second Quarter 2012 Financial Results
Date:8/15/2012

HAIKOU CITY, China, Aug. 15, 2012 /PRNewswire-Asia-FirstCall/ -- China Pharma Holdings, Inc. (NYSE AMEX: CPHI) ("China Pharma" or the "Company"), a specialty pharmaceuticals company in China, today announced financial results for the quarter ended June 30, 2012.

Second Quarter 2012 Highlights

  • Revenue was $14.6 million for the second quarter of 2012, representing a decrease of 26% compared to $19.6 million for the same period in 2011. For the first six months of 2012, revenue was $30.7 million, representing a decrease of 19% from $37.7 million for the same period in 2011.
  • Gross profit was $4.1 million for the second quarter of 2012, representing a decrease of 43% compared to $7.3 million for the same period in 2011. For the first six months of 2012, gross profit was $9.4 million, representing a decrease of 33% from $14.2 million for the same period in 2011.
  • Net income was $1.8 million, or $0.04 per basic and diluted share for the second quarter of 2012, representing a decrease of 65% compared to $5.1 million for the prior year period, or $0.12 per basic and diluted share. For the first six months of 2012, net income was $4.6 million, representing a decrease of 55% from $10.2 million for the same period in 2011.
  • "This year we expect to see many new Healthcare Reform policy implementations, most of which are centered around the theme of price control. With respect to the second quarter, new government reform policies as well as the general uncertain atmosphere of the industry continued negatively impacting our short-term sales volume. Besides that, we are also experiencing pricing pressure on most of our products." Ms. Zhilin Li, China Pharma's Chairman and CEO continued, "In addition, like the other Chinese pharmaceutical manufacturers, our Company is required to upgrade our facility to the new GMP standards. This round of upgrading i
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    SOURCE China Pharma Holdings, Inc.
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