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news.China Botanic Pharmaceutical has reported net sales of $12.38m for the third quarter ended 31 July 2011, an increase of 33.6% compared to $9.26m for the same period in 2010.
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The rise was mainly attributable to year-over-year increase in average selling prices of the company’s products and the growing market acceptance of the Company’s new products introduced in the fourth quarter of 2010.
China Botanic’s net income was $2.52m or $0.07 per diluted share, compared to net income of $1.46m or $0.04 per for the same period in the prior year.
The company’s income from operations were $2.99m for the third quarter ended 31 July 2011, compared to $1.43m for the same period in 2010.
For the nine months ended 31 July 2011 net sales were $53.88m, compared to $38.49m for the same period in 2010.
Net income was $20.55m, or $0.54 per diluted share for the nine months ended 31 July 2011, compared to $12.24m or $0.32 per diluted share for the same period prior year.
For the nine months ended 31 July 2011, the company’s income from operations were $22.66m, compared to $12.19m for the same period in 2010.