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news.China Botanic Pharmaceutical, a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines (TCM) in China, has reported net sales of $16.69m for the fourth quarter ended 31 October 2010, an increase of 15.2%, compared to $14.5m for the comparable period in 2009.
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The company has posted a net income of $5.63m for the fourth quarter 2010, or $0.14 per diluted share, compared to $5.81m, or $0.15 per diluted share, for the comparable period in 2009.
China Botanic Pharma’s income from operations was $5.61m, compared to $5.8m for the comparable period in 2009.
For the full year ended 31 October 2010, the company has posted net sales of $55.18m for the 12 months, compared to $43.41m for the year ago period.
The company’s income from operations for the full year ended 31 October 2010 was $17.79m, compared to $14.8m for the year ago period.
The company has reported a net income of $17.87m, or $0.44 per diluted share, compared to $14.85m, or $0.41 per diluted share, for the year ago period.
China Botanic Pharma chairman and CEO Shaoming Li said they are pleased to report double digit revenue and net income growth in fiscal year 2010.
"During the year, we experienced increases in average selling prices of several of our products, reflecting the continued strong demand for our all-natural plant based remedies," Li said.