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news.Renhuang Pharmaceuticals has reported sales of $9.26m for the third quarter ended 31 July 2010, an increase of 43.8%, compared to $6.44m for the same period in 2010.
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For the third quarter ended 31 July 2010, Renhuang Pharma’s net income grew 115.8% to $1.5m, or $0.04 per diluted share, from $0.7m, or $0.02 per diluted share in the prior year period.
Operating income in the fiscal 2010 quarter was $1.4m, up 116.4% from $0.7m in the 2009 quarter.
For the nine months ended 30 June 2010, the company has posted a sales of $38.49m compared to $28.92m for the year ago period.
Renhuang Pharma chairman and CEO Shaoming Li said that demand for their products often peaks in the fourth quarter, which represents the start of the flu season.
“It is also pleasing to report that our recently introduced products, Banlangen Granules and Compound Honeysuckle Granules, have been key drivers supporting our sales growth and strong margins,” Li said.
Renhuang Pharmaceuticals is a manufacturer, developer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines (TCM).