Aoxing Pharmaceutical Company, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014
May 14, 2014 at 06:14 pm EDT
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Aoxing Pharmaceutical Company, Inc. announced earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company reported revenues of $2,445,793, representing a 30% increase over the revenues realized in the comparable periods of fiscal year 2013. The increase in revenue was mainly attributable to the increase in sales of main product, Zhongtongan, which is now being marketed for gynecological and orthopaedic applications in addition to its core pediatric and stomotological market. Loss from operations of $717,874 during the three months was only 31% of the loss from operations realized in the prior year's third quarter. After that deduction, the company realized a net loss attributable to the shareholders was $1,822,137, representing improvements of 30%.
For the nine months, the company reported revenue of $9,489,708, representing 22% increase over the revenues realized in the comparable periods of fiscal year 2013. Loss from operations of $2,625,798 was only 58% of the loss from operations realized in the comparable period of fiscal 2013. The primary reason for the reduction in loss from operations was the elimination of a television advertising program carried out during fiscal 2013, with resulting reductions in selling expense of $2,103,722 and $1,541,806 during the three and nine month periods ending March 31, 2014. the company realized a net loss attributable to the shareholders was $5,882,840, representing improvements of 2% for the same period a year ago.
Aoxing Pharmaceutical Company, Inc. is a specialty pharmaceutical company specializing in research, development, manufacturing and distribution of a range of narcotic, pain-management and addiction treatment pharmaceutical products. The Company holds approximately 140 drug production certificates covering narcotic pain-management, prescription medicines, over-the-counter (OTC) and active pharmaceutical ingredient (API) products. Its products include prescription drugs, such as Tilidine hydrochloride, Zhongtong'an and Humifuse Euphorbia Herb Tablet, and OTC drugs, such as Shanmei Capsule, Shaoshang Tincture, Yiqi Qiangshen Granule, Xiaopiling Granule, Xiongjushangqing Tablet, Juyuansuanbijia Oral Solutions, Longdanxiegan Tablet, Fenka Tablet, Shujinhuoxue Tablet, Fuketiaojing Tablet, Qingnao Jiangya Tablet, Yuanhu Pain Management Tablet, Bushenqiangshen Tablet, Baiziyangxin Pill, Qingguo Pill, Liuweidihuang Pill, Zhibaidihuang Pill, Xiaoyao Pill and Tianwangbuxin Pill.