Aoxing Pharmaceutical Company, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016
February 08, 2016 at 08:30 am EST
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Aoxing Pharmaceutical Company, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company achieved revenue of $8,195,839, a 27% improvement on revenue of $6,430,701 recorded in the same quarter in fiscal 2015. Income attributable to shareholders of the company was $2,068,635, or $0.03 per diluted share, up 265% from the income attributable to shareholders of the company of $567,169, or $0.01 per diluted share reported in the second quarter of fiscal year 2015. Income before income taxes was $2,597,661 against $601,952 reported last year. Income from operations was $3,410,023 against $1,972,518 reported last year. The company's increase in second quarter revenue was primarily attributable to an increase in the number of customers for its lead pain management product, Zhongtong'an.
For the six months, the company reported income attributable to shareholders of the company of $3,336,571 or $0.05 per diluted share on sales of $16,940,661 compared to income attributable to shareholders of the company of $559,299 or $0.01 per diluted share on sales of $10,955,783 reported in the same period last year. Income before income taxes was $6,549,225 against $3,189,246 reported last year. Income from operations was $4,889,897 against $599,550 reported last year.
For the fiscal year 2016, the company reported its revenue target of $45 million, along with continued earnings growth in fiscal year 2016 and beyond.
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.
Aoxing Pharmaceutical Company, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016