China Pharma Holdings Q2 net income slightly increases

Wed. August 12, 2009; Posted: 11:57 AM

Aug 12, 2009 (Datamonitor via COMTEX) -- CPHI | Quote | Chart | News | PowerRating -- China Pharma Holdings, a specialty pharmaceutical company, has reported a net income of $4.29 million, or $0.10 per share, for the second quarter of 2009, compared to $4.04 million, or $0.10 per share, for the second quarter of 2008.

The company has reported total revenues of $13.6 million for the second quarter of 2009, compared to $11.28 million for same period of 2008.

China Pharma Holdings has reported a net income of $7.96 million, or $0.19 per share, for the first half of 2009, compared to $8.23 million, or $0.22 per share, for the same period of 2008.

The company has reported total revenues of $26.6 million, for the first half of 2009, compared to $23 million for the same period of 2008.

Zhilin Li, president and CEO of China Pharma, said: "We are pleased to report a quarter with continued revenue growth supported by increased marketing efforts and distribution expansion. In the second quarter of 2009, several newly-launched products started to show great potential in sales, and our existing products continued to increase their contributions to revenue.

"Our second quarter performance also reflects much progress managing our receivables collection efforts. We believe our efforts will result in improved collections in the coming quarters."

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