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Weikang Bio-Technology Group Co., Inc. Announces Fiscal Year 2011 Financial Results
Date:4/2/2012

HARBIN, China, April 2, 2012 /PRNewswire-Asia-FirstCall/ -- Weikang Bio-Technology Group Co., Inc. (WKBT.PK)("Weikang" or the "Company"), a leading developer, manufacturer and marketer of Traditional Chinese Medicine (TCM), Western prescription and OTC pharmaceuticals and other health and nutritional products in the People's Republic of China, today announced its financial results for fiscal year ended December 31, 2011. Summary financial data is provided below:

Fiscal Year 2011 Financial Highlights

  • Net sales for the fiscal year ended December 31, 2011 increased by 36% to $101.68 million, up from $74.55 million for the same period last year.
  • Net income for the fiscal year ended December 31, 2011 was $29.63 million, as compared to $24.44 million for the fiscal year ended December  31, 2010.
  • Gross margin for the fiscal year ended December 31, 2011 decreased to 59% based on gross profit of $59.59 million, as compared to a 60% margin in the same period of 2010.
  • Earnings per diluted share were $0.90 for the fiscal year 2011, as compared to $0.87 for the same period of 2010.

Mr. Yin Wang, Chairman and CEO of Weikang stated: "We are thrilled by the financial results of fiscal year of 2011. Our growth strategy continues to prove successful, as evidenced by our strong performance in the fiscal year of 2011. Although we are facing severe competition within TCM industry and slowdown of the Chinese economy, we still achieved the best performance in our company's history. In the next few years," Mr. Wang continued, "we will continue to execute our organic growth strategy while pursuing expansion through acquisition. As a matter of fact the slowdown of the Chinese economy gives us more opportunities in selecting acquisition targets, which we believe will put us on strong footing to continue our growth."

Results of Operations for the fiscal year ended December 31,
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SOURCE Weikang Bio-Technology Group Co., Inc.
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