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Global Pharm Holdings Group, Inc. Announces Third Quarter 2011 Financial Results
Date:11/21/2011

SHENZHEN, China, Nov. 21, 2011 /PR Newswire-Asia/ – Global Pharm Holdings Group, Inc. (OTCBB: GPHG) ("Global Pharm" or the "Company"), a growing vertically integrated pharmaceutical company engaged in the distribution of pharmaceutical-related products, Traditional Chinese Medicine ("TCM") processing, and herbal cultivation and sales in China through its subsidiaries in Anhui, Jilin, Guangdong and Shandong provinces, today announced its unaudited financial results for the third quarter ended September 30, 2011.

Third Quarter 2011 Highlights

  • Net revenues were $69.0 million, an increase of 125.4% as compared to the third quarter of 2010.
  • Gross profit was $9.6 million, an increase of 62.1% as compared to the third quarter of 2010, with gross margin of 13.9%.
  • Operating income was $6.1 million, an increase of 449.8% as compared to the third quarter of 2010.
  • Net income was $3.7 million, or $0.12 per diluted share, as compared to net loss of $0.07 million, or nil per diluted share, for the same period in 2010.
  • In July 2011, Global Pharm successfully acquired a TCM herbal pieces processing plant in Bozhou, Anhui Province.
  • In August 2011, Global Pharm successfully acquired a city-level pharmaceutical distributor in Weifang, Shandong Province. Furthermore, through its acquisition in August 2011 of the management and supply distribution rights to one of the largest pharmaceutical franchise of drugstores in Guangdong Province, the Company currently manages over 1,200 retail and chain drugstores in the area.
  • In September and October 2011, the Company issued redeemable convertible bonds in the aggregate principal amount of $15,000,000 to Blazer Delight Limited, an investment vehicle owned by a fund managed by Asia-based Gen2 Partners Limited.

  • "We're pleased to report a successful quarter marked by strong financial performance and important operational achievements. During the
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    SOURCE Global Pharm Holdings Group, Inc.
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