Renhuang Pharma has posted a net income of $3.4m, or $0.09 per diluted share, compared to $2.09m, or $0.06 per diluted share, for the prior year period.
Income from operations was $3.4m, compared to $2.08m for the prior year period.
For the six months ended April 30, 2010, Renhuang Pharma has posted a net income of $10.8m, or $0.29 per diluted share, compared to $8.3m, or $0.24 per diluted share, for the year ago period.
Net sales were $29.2m, compared to $22.4m for the year ago period. Income from operations was $10.7m, compared to $8.3m.
Shaoming Li, chairman and CEO of Renhuang Pharma, said: “We are pleased with the rapid market acceptance of our recently introduced products, Banlangen Granules and Compound Honeysuckle Granules, which were key drivers behind the sales growth and margin expansion to-date. Our operating leverage remained robust in the second quarter with a nearly 400 basis point operating margin increase year-over-year despite higher operating expenses.”
“Renhuang completed a very strong first half performance with significant momentum for the remainder of fiscal 2010. Increased market acceptance of our portfolio of natural products and introduction of new products are expected to continue the company’s strong pace of growth in the coming quarters.
“In addition to focusing on organic growth, Renhuang continues to actively evaluate external growth opportunities, including the potential acquisition of complementary operations and overseas expansion.”