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

gaining access to high-quality TCM herb products directly from the source, as well as achieve increased revenue by the consecutive distribution of such herbal products. Following the integration, our distribution business would enjoy greater flexibility in terms of making coordinated sales efforts, allowing us to price our products and services more competitively."

First Quarter 2011 Financial Summaries (Unaudited)Three months ended March 31Change(in $ millions, except per-share data in $)

2011

2010Net Revenue

42.1

28.9

45.8%Gross Profit

7.8

5.1

53.0%Operating Income

6.7

4.6

43.6%Income before income taxes

6.7

4.7

43.3%Net Income

5.3

3.5

51.6%Total comprehensive income

5.4

3.5

55.9%Basic and diluted earnings per share

0.20

0.18

11.1%First Quarter 2011 ResultsTotal net revenue was $42.1 million for the three months ended March 31, 2011, an increase of 45.8% compared with the same period in 2010. The revenue increase largely reflects strong sales of the pharmaceutical products distribution segment, which contributed $32.5 million or 77.1% of the Company's total sales in the quarter, compared with $20.9 million or 72.2% of the total revenue in the corresponding quarter last year.

Below is a breakdown of sales per business segment for the three months ended March 31, 2011 and 2010, respectively:

For the Three Months Ended March 31 – Revenuein USD except percentage

2011

2010

Change% of revenue% of revenue%Pharmaceutical products distribution

$32,473,402

77.1

$20,866,986

72.2

11,606,416

55.6TCM processing and distribution

4,716,648

11.2

7,033,942

24.3

(2,317,294)

(32.9)Herbal cultivation and sales

4,656,951

11.1

-

-

4,656,951

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SOURCE Global Pharm Holdings Group, Inc.
Copyright©2010 PR Newswire.
All rights reserved

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