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Jiangbo Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2010
Date:2/22/2010

otal revenue for the six month period ended December 31, 2009 was $42.6 million, down 29.7% from $60.5 million for the six month period ended December 31, 2008.

Gross profit totaled $31.6 million, down 33.5% from $47.6 million in the year ago period. Gross profit margin was 74.3% for the six month compared to 78.7% for the corresponding period in 2008. Operating income was $19.8 million, a 5.6% increase year-over-year from $18.8 million last year. Net income was $7.5 million, or $0.70 basic earnings per share, compared to $8.5 million, or $0.87 basic earnings per share, for the corresponding period in 2008. Diluted loss per share was $0.89 per share, compared to $1.61 diluted loss per share in the year ago period. Excluding non-cash gains related to the change in fair value from derivative liabilities of $1.9 million and the amortization of debt discount and debt issuance costs related to convertible debentures of $8.0 million, non-GAAP adjusted net income was $13.6 million, or $0.92 per fully diluted share for the three months ended December 31, 2009, compared to non-GAAP adjusted net income of $10.5 million, or $0.74 per fully di
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SOURCE Jiangbo Pharmaceuticals, Inc.
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