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news.Lotus Pharmaceuticals, a producer and developer of drugs, has reported revenues of $18.5m for the third quarter ended 30 September 2010, an increase of 27.5% compared to $14.51m for the same period in 2009.
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Lotus Pharma has posted a net income of $6.7m for the third quarter 2010, or $0.12 per diluted share, compared to net income of $5.39m, or $0.11 per diluted share, for the comparable period in 2009.
Lotus Pharma’s income from operations was $6.96m, compared to $6.01m for the comparable period in 2009.
The company has posted a revenue of $52.56m, for the nine months ended 30 September 2010, compared to $39.97m for the year ago period.
For the nine months ended 30 September 2010, Lotus Pharma has posted a net income of $17.95m, or $0.33 per diluted share, compared to $13.74m, or $0.28 loss per diluted share, for the year ago period.
The company’s income from operations for the nine months ended 30 September 2010 was $19.02m, compared to $15.52m for the year ago period.
Lotus Pharma chairman and CEO Zhongyi Liu said that they will continue to focus on developing nationwide sales and distribution network, boosting direct sales to hospitals, and advancing internal drug development pipeline.
"We are on track to reach our financial guidance of $73.6m in revenues and net income of $21.4m for 2010," Liu said.