Tiens Biotech’s Q2 Net Income Up 83%

Tiens Biotech Group’s revenue for the second quarter of 2009 increased 4.6% to $20.6m, compared to $19.7m for the second quarter of 2008. For the six months ended June 30, 2009, revenue was $38.8m, an increase of 19.4% compared to $32.5m for the same period in 2008.

Net income for the quarter rose 83% to $10.3m, or $0.14 per share, compared to net income of $5.6m, or $0.07 per share for the 2008 second quarter. Net income for the six months ended June 30, 2009 was $19.3m, an increase of 90.5% as compared to $10.1m for the same period in 2008.

The company’s gross profit for the second quarter of 2009 was $14.4m, an increase of 7.3% compared to $13.5m for the same period in 2008. Gross profit for the six months ended June 30, 2009 was $26.9m, an increase of 21.2% compared to $22.2m for the same period in 2008.

Jinyuan Li, chairman, president and CEO of Tiens, said, Tiens is pleased to report another quarter of positive results including a significant increase in net income. We are confident that international sales will remain strong and that domestic sales will return to, and potentially exceed, previous levels as customers begin to replenish stored up products. We are committed to further expanding our growing international customer base, gaining greater market share in China, and further implementing our strategic plans for long term growth.