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TPI Reports Second Quarter Fiscal Year 2013 Financial Results
Date:2/14/2013

CHENGDU, China, Feb. 14, 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 second quarter of the fiscal year 2013.

Second Quarter Fiscal Year 2013 Ended December 31, 2012 Financial Highlights:

  • Revenue was $17.6 million compared with $18.2 million in 2Q12 a decrease of 3.3% year over year,
  • Operating income was $2.6 million, compared with $2.1 million in 2Q12, an increase of 23.8% year over year,
  • Net Income was $1.8 million compared with $1.7 million in 2Q12, an increase of 5.9% year over year,
  • Earnings per share of $0.06 per basic share, and $0.06 per diluted share, compared with $0.06 per basic share, or $0.06 per diluted share in 2Q12, 
  • Cash and cash equivalents totaled $25.4 million on December 31, 2012; Operating cash flow for the six months ended December 31, 2012 was $(0.7) million, compared with operating cash flow of $7.9 million for the six months ended December 31, 2011.
  • Comparison of results for the quarters ended December 31, 2012 and 2011:Quarters 
    Ended December 31,20122011(In millions)Sales$

    17.6$

    18.2Cost of sales$

    10.8$

    12.1Gross profit$

    6.8$

    6.1Total operating expenses$

    4.2$

    4.0Operating income$

    2.6$

    2.1Provision for income taxes$

    0.7$

    0.6Net income$

    1.8$

    1.7Sales for the quarter ended December 31, 2012 was $17.6 million, a decrease of 3.3% as compared to $18.2 million for the quarter ended December 31, 2011. The sales decrease was mainly due to continuous generic pricing pressure amid heal
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    SOURCE Tianyin Pharmaceutical Co., Inc.
    Copyright©2012 PR Newswire.
    All rights reserved

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