Shengtai Pharmaceutical Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net sales of $64,103,621 compared to $42,933,425 a year ago. Income from operations was $2,089,954 compared to $1,014,569 a year ago. Income before provision for income taxes was $380,755 compared to loss before provision for income taxes of $48,983 a year ago. Net income was $261,216 or $0.03 per basic and diluted share compared to net loss of $65,062 or $0.01 per basic and diluted share a year ago. The increase in net sales primarily resulted from increased cornstarch and other products sales. The increase in net income was primarily attributable to the increased gross profit of $1,947,768, offset by increased selling, general and administrative expenses of $872,383 and by increased interest expenses of $518,770.

For the six months, the company reported net sales of $112,848,264 compared to $82,988,873 a year ago. Income from operations was $3,858,235 compared to $2,247,001 a year ago. Income before provision for income taxes was $673,382 compared to $1,202,963 a year ago. Net income was $457,517 or $0.05 per basic and diluted share compared to $818,495 or $0.09 per basic and diluted share a year ago. Net cash provided by operating activities was $1,285,014 compared to net cash used in operating activities of $9,539,722 a year ago. Purchase of plant and equipment was $4,259 compared to $1,221 a year ago.