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Global Pharm Holdings Group Announces First Quarter 2011 Financial Results
Date:5/16/2011

SHENZHEN, China, May 16, 2011 /PRNewswire-Asia/ -- Global Pharm Holdings Group, Inc. (OTCBB: GPHG.OB) ("Global Pharm" or the "Company"), a China-based leading vertically integrated pharmaceutical company engaged in pharmaceutical related products distribution and herbal cultivation businesses through its subsidiaries in the Anhui, Jilin, and Shandong provinces, today announced its unaudited financial results for the first quarter ended March 31, 2011.

First Quarter 2011 Highlights

  • Net revenues were $42.1 million, an increase of 45.8% over the first quarter of 2010
  • Gross profit was $7.8 million, an increase of 53.0% over the first quarter of 2010, with gross margin of 18.6%
  • Operating income was $6.7 million, an increase of 43.6% over the first quarter of 2010
  • Net income was $5.3 million, or $0.20 per diluted share, an increase of 51.6%, as compared to $3.5 million, or $0.18 per diluted share, in the same period in 2010
  • Net operating cash generated during the quarter was $5.8 million

  • "We are pleased to report a good start of the fiscal year 2011 with a 45.8% increase in revenue compared with the same period last year. This sales growth is mainly driven by our wholly owned subsidiary Shandong Global Pharm ("Shandong Global Pharm," formerly known as "Yaoyuan") in the Shandong province, due to the significant increase in customer numbers and enlarged product portfolios," stated Mr. Yunlu Yin, Chief Executive Officer of Global Pharm. "During the quarter, Global Pharm established two new 97% owned subsidiaries in the Anhui and Shandong provinces respectively, to start its projects of building modern Traditional Chinese Medicine, or TCM, herbal plantation bases. We anticipate that the establishment of the TCM herbal plantation bases will enhance our product portfolio, increase the profit margin, and later make the direct offer to our distribution business unit. Our distribution business will benefit from
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    SOURCE Global Pharm Holdings Group, Inc.
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