Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.China Sky One Medical has reported that its total revenues in the fourth quarter were $12.7 million, an increase of 223% on year-over-year basis. This was primarily the result of strong performance associated with the company's continued efforts to develop its sales distribution channels.
Subscribe to our email newsletter
Product sales increased 237.5% year-over- year to $9.3 million, or 73.5% of total revenues. Contract sales increased 188.2% year-over-year to $3.4 million and accounted for 26.5% of revenues in the fourth quarter of 2007. Gross profit in the fourth quarter of 2007 was $9.9 million, an increase of 201% on year-over-year basis.
Net income for the fourth quarter of 2007 was $4.1 million, or $0.31 per diluted share, compared to loss of $1 million, or ($0.08) per diluted share, in the fourth quarter of 2006.
For the full year 2007, total revenues were $49.3 million, up 148% from $19.8 million in 2006. Gross profit for the full year 2007 was $38.4 million, an increase of 159% from $14.8 million in 2006. Net income for 2007 was $15.3 million or $1.15 per diluted share, compared to $0.6 million, or $0.05 per diluted share, in 2006.
Yan-Qing Liu, chairman and CEO of China Sky One Medical, said: “We have a strong pipeline of new products, and plan to begin clinical testing of eight new kit products in 2008. We hope to complete clinical trials of Enothelin-1 in 2013 and plan to open a cord stem cell and tissue bank at our newly established facility outside Harbin in late 2008 or 2009.”