Turnaround for Sinobiopharma (SNBP)
Today's Financial News - Posted October 21, 2009
A banner quarter could spell the turning point for Chinese drug maker Sinobiopharma (OTC:SNBP)
by J. Christoph Amberger
Baltimore, MD — TFN: Our “China Proxy” play Sinobiopharma (OTC:SNBP) may be close to a turnaround. Recent financial highlights feature record revenues and increases in both gross margin and net profit. In fact, the company posted its first overall net profitable quarter since the Q2 2008. (’bout time!)
Revenues increased to US $1,293,764 for the three months ended August 31, 2009, from US $931,203 in the corresponding period in 2008. This is an increase of 39%.
Gross profit increased 57% to US $962,923, reflecting a 74% gross margin for the three months ended August 31, 2009.
An overall net profit overall of US $237,167 for the three months ended August 31, 2009, marks the first time that Sinobiopharma has moved to net profitability in more than a year.
We remain strongly bullish on the entire Chinese drug sector!
Next Article: TFN eNews 10/21/2009: Plenty of opportunities tomorrow!
Be the first to leave a reply.
Your comments are welcome
Follow TFN via RSS or Twitter |
 |
 |
 |
Advertisement
Latest Headlines
- The Big Picture for Sinobiopharma, Inc. (SNBP)
- Beazer Homes USA, Inc. (BZH) and Hovnanian Enterprises, Inc. (HOV) up despite horrid housing news
- The FDA catalyst: 2010 moves in MannKind (MNKD), Roche Holding (RHHBY), Acorda Therapeutics (ACOR) show it still works!
- Steepest drop since Feb. 2009: Here we go again!
- Is the silver run over? Coeur d’Alene Mines (CDE), Silver Wheaton (SLW), Alto Group (ALTO), Hecla Mining (HL), Endeavour Silver (EXK) close down