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news.China Nuokang Bio-Pharmaceutical, a China-based biopharmaceutical company focused on the manufacture, research, development, marketing and sales of hematological and cardiovascular products, has reported net revenues of RMB69.73m for the first quarter ended March 31, 2010, an increase of 16.8%, compared to RMB59.73m for the comparable period in 2009.
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China Nuokang has posted a net income of RMB17.07m, or RMB0.11 per diluted share, compared to RMB11.19m, or RMB0.05 per diluted share, for the prior year period.
Operating income was RMB21.3m, compared to RMB15.2m for the year ago period. Gross profit was RMB62.39m, compared to RMB53.3m for the year ago period.
Baizhong Xue, chairman and CEO of China Nuokang, said: “We are very pleased with our first quarter 2010 financial results, which demonstrate our continued market leadership and operational strength, driven by our high product quality, efficient operating platform and national presence.”
Robert Pu, CFO of China Nuokang, said: “In 2010, we will continue to execute on our growth strategies by deepening and broadening our hospital coverage. We reiterate that we are targeting revenue in the range of $51m to $53m in 2010, driven by our ongoing organic growth and leadership in the hemocoagulase market.”