Thursday, March 17, 2011

China Botanic Pharmaceutical (CBP) Reports First Quarter Fiscal Year 2011 Results

First Quarter 2011 Highlights and Recent Events

Net sales increased 32.1% year-over-year to $22.6 million

Gross profit increased 45.8% to $13.8 million from $9.5 million in the first quarter of fiscal year 2010

Gross margin increased to 61.1% from 55.3% a year ago

Net income rose 48.3% to $10.9 million or $0.29 per diluted share

New products, including Qing Re Jie Du Oral Liquid, Compound Schisandra Tablets, Ginseng and Deer Antler Extract and Badger Fat accounted for 15.0% of gross sales in the first quarter of fiscal 2011

The Company passed the annual assessment for the High-Technology Enterprise certificate and will continue to enjoy a preferential tax rate in fiscal 2011. This rate of 15%, commencing on January 1, 2011, is notably lower than the statutory income tax rate of 25 percent, but higher than the zero percent rate the company enjoyed in fiscal 2010

Q1 results

10-K filing

Good Q1 results 

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