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TPI Reports Fiscal Year 2013 Financial Results
Date:9/27/2013

CHENGDU, China, Sept. 27, 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 fiscal year 2013.

Fiscal Year 2013 Ended June 30, 2013 Financial Highlights:

  • Revenue was $67.5 million compared with $69.6 million in fiscal year 2012, a decrease of 3.0% year over year;
  • Operating income was $9.3 million, compared with $8.5 million in fiscal year 2012, an increase of 9.0% year over year;
  • Net Income was $6.6 million compared with $6.2 million in fiscal year 2012, an increase of 6.0% year over year;
  • Earnings per share of $0.23 per basic share, $0.23 per diluted share, compared with $0.22 per basic share, or $0.22 per diluted share in fiscal year 2012; 
  • Cash and cash equivalents totaled $26.8 million on June 30, 2013; and
  • Operating cash flow for the fiscal year 2013 ended June 30, 2013 was $8.2 million, compared with operating cash flow of $8.0 million for the fiscal year 2012 ended June 30, 2012.  
  • Comparison of results for the quarters ended June 30, 2013 and 2012:Fiscal YearsEnded June 30,20132012(In millions)Sales$

    67.5$

    69.6Cost of sales$

    41.5$

    45.3Gross profit$

    26.0$

    24.3Total operating expenses$

    16.7$

    15.8Operating income$

    9.3$

    8.5Provision for income taxes$

    2.4$

    2.4Net income$

    6.6$

    6.4Sales for the fiscal year ended June 30, 2013 was $67.5 million, decreased by 3.0% from $69.6 million for the fiscal year 2012, as a result of generic pricing pressure, coupled with prolonged JCM production ramp up. We are currently exploring and implementing various
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    SOURCE Tianyin Pharmaceutical Inc.
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