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news.Skystar Bio-Pharmaceutical, a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, has reported net revenue of $7.09m for the first quarter ended 31 March 2011, an increase of 46%, as compared to $4.86m for the same period in 2010.
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Skystar has reported a net income of $1.93m, or $0.27 per diluted share, compared to net income of $1.1m or $0.15 per diluted share, for the same period last year.
The company’s income from operations were $1.64m, as compared to $1.74m for the same period prior year.
Skystar’s gross profit was $3.6m, compared to $2.58m for the same period prior year.
Skystar chairman and CEO Weibing Lu said the goals of Skystar’s business plan and capital markets activity has been to develop and grow these initiatives.