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TPI Reports First Quarter Fiscal Year 2014 Financial Results
Date:11/15/2013

CHENGDU, China, Nov. 15, 2013 /PRNewswire/ -- Tianyin Pharmaceutical Inc. (NYSE Amex: TPI), a pharmaceutical company that specializes in the patented biopharmaceutical, modernized traditional Chinese medicine (mTCM), branded generics and active pharmaceutical ingredients (API) announced financial results for the first quarter fiscal year 2014.

First Quarter Fiscal Year 2014 Ended September 30, 2013 Financial Highlights:

  • Revenue was $14.8 million compared with $16.0 million in the first quarter fiscal year 2013, a decrease of 8.1% year over year;
  • Operating income was $2.2 million, compared with $2.1 million in the first quarter fiscal year 2013, an increase of 1.4% year over year;
  • Net Income was $1.5 million compared with $1.5 million in the first quarter fiscal year 2013;
  • Earnings per share of $0.05 per basic share, $0.05 per diluted share, compared with $0.05 per basic share, or $0.05 per diluted share in the first quarter fiscal year 2013; 
  • Cash and cash equivalents totaled $25.6 million on September 30, 2013;
  • Comparison of results for the three months ended September 30, 2013 and 2012:Three Months EndedSeptember 30,20132012(In millions)Sales$

    14.7$

    16.0Cost of sales$

    8.8$

    9.7Gross profit$

    6.0$

    6.2Total operating expenses$

    3.8$

    4.1Provision for income taxes$

    0.6$

    0.6Net income$

    1.5$

    1.5Less: Net (loss) attributable to noncontrolling interest$

    (0.0)$

    (0.0)Foreign currency translation adjustment$

    0.6$

    (0.1)Comprehensive income$

    2.1$

    1.4Sales for the quarter ended September 30, 2013 was $14.7 million, a decrease of 8.1% as compared to $16.0 million for the quarter ended September 30, 2012. The sales decrease reflected the continuous pricing pressure a
    '/>"/>

    SOURCE Tianyin Pharmaceutical Inc.
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    All rights reserved

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