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Shengtai Pharmaceutical, Inc. Reports Financial Results for the Third Quarter and the First Nine Months of Fiscal Year 2010
Date:5/17/2010

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Net sales from exports for the three months ended March 31, 2010 increased approximately 212% compared with the same period in 2009. Domestic sales of cornstarch and other products for the three months ended March 31, 2010 increased approximately 88% compared with the same period last year.

The gross profit for the three months ended March 31, 2010 was $5,657,155, an increase of $4,639,562, or 455.93%, compared with the same period in 2009, and the gross profit margin for the three months ended March 31, 2010 was 19.2%, an increase from 6.2% for the same period in 2009.

Selling, general and administrative expenses were $3,078,030 for the three months ended March 31, 2010 compared to $1,322,178 for the three months ended March 31, 2009. The increase was due largely to the write-off of a payment of $837,684. After deducting the write-off, selling, general and administrative expenses for the three months ended March 31, 2010 were $2,240,346, an increase of $918,168, or 69.4%, from the three months ended March 31, 2009.

Net income for the three months ended March 31, 2010 was $978,125, an increase of $1,639,523 compared with a net loss of $661,398 for the same period in 2009.

Financial Results of the First Nine Mon
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SOURCE Shengtai Pharmaceutical, Inc.
Copyright©2010 PR Newswire.
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