Interesting jump for Sinobiopharma (SNBP)
Today's Financial News - Posted January 18, 2010
Sinobiopharma (NASDAQ:SNBP) ended last week on a 20%-plus upswing! A dollar short and a week late… but some of our readers might be sitting pretty!
by J. Christoph Amberger
Baltimore, MD: Sinobiopharma (NASDAQ:SNBP) was my last pick for TFN’s Penny Stock Confidential trading service. I recommended it on 1/08 at around 22 cents. HSC members, however, remember it as one of our more epic losses. But PSC members had taken substantial short-term profits on this stock before.
Friday, SNBP soared to 31 cents on earnings news… just as predicted in my last update.
SNBP announced earnings of $1,073,550 for the three months ended November 30, 2009, compared to a net loss of $1,045,239 during the same period a year ago.
Revenues increased 120% to $2,137,471 and gross margins that improved 182% to 80% of sales. Operating expenses decreased 63% to $596,154 due to a decrease in stock-based compensation and a reduction in general and administrative expenses. However, research and development expenses rose to $189,396 from $33,015 a year ago….
Read on right here, at Amberger’s blog…
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