In the quarter ended September 30, 2013, our top five core product sales were:
Gingko mihuan oral liquid (GMOL) for stroke and cardiovascular disorders: $5.1 million2.
Mycophenolate mofetil capsules (MM) for renal transplant: $2.2 million3.
Azithromycin tablets (AZI) for infection: $0.5 million4.
Qingre jiedu oral liquid (QR): $0.7 million5.
Qianlie Shule capsules (QS) for prostate conditions: $0.27 millionThese core products totaled $8.8 million in sales, representing 59.7% of the quarterly revenue in the quarter ended September 30, 2013.
Gross Margin for the quarter ended September 30, 2013 was 40.6% as compared to 39.1% for the quarter ended September 30, 2012. As discussed above in the segment of costs of sales, our gross margin improved, predominately as a result of a greater mix of higher margin products being sold during the period, supported by a leveling off of negative pricing pressures in our lower margin generic portfolio. We expect a gradual improvement of our overall gross margin on a quarter to quarter comparison basis from last year due to the sale of our higher margin products.
Net Income was $1.5 million with a net margin of 10.0% for the quarter ended September 30, 2013, as compared to net income of $1.5 million with net margin of 9.4% for the quarter ended September 30, 2012. The improvement of net margin was predominately a result of improvements in our gross margins with optimized sales and marketing expenditure.
Diluted earnings per share for the first quarter fiscal year 2014 were $0.05 based on 29.4 million shares compared with the earnings of $0.05 per diluted share for the first quarter fiscal year 2013, based on 29.3 million shares.
Balance Sheet and Cash FlowAs of September 30, 2013, we had working capital totaling $38.3 million, including c
|SOURCE Tianyin Pharmaceutical Inc.|
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