The company has posted net income of $13.1m, an increase of 42%, as compared to the net income of $9.2m for the year ago period.
Gross profit was $16.2m, an increase of 38% from $11.7m in 2009.
The company expects to continue to grow its revenue and earnings through its corporate growth initiatives and expansion strategy in China’s fragmented pharmaceutical and traditional Tibetan medicine industries.
Tibet Pharma CEO Taylor Guo said they raised $16.5m in financing through their IPO and continue to execute on improving the business by driving growth and minimizing costs and inefficiencies in their operations.
"Benefiting from our recent milestones, Tibet Pharmaceuticals will seek to capitalize on China’s growing elderly population and rising middle-class consumers to drive revenues, earnings and ultimately shareholder value," Guo said.