Shengtai Pharmaceutical Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company's net sales were $49,723,426, an increase of $9,919,818 or 24.92%, compared with $39,803,608 for the same period in 2012. The increase in net sales primarily resulted from increased sales of cornstarch products and other products as well as from increased exports for the three months ended March 31, 2013, compared to the same period in 2012. Net income for the quarter was $105,218 or $0.01 per basic and diluted share compared with net income of $98,253 or $0.01 per basic and diluted share for the same period in 2012. The increase in net income was primarily attributable to the decreased interest expenses of $764,190 and increased interest income of $25,071. Income from operations was $1,487,345 compared with $2,111,140 a year ago. Income before provision for income taxes was $162,487 compared with $152,375 a year ago.

For the nine months, the company's net sales were $162,571,689 compared with $122,792,481 a year ago. Income from operations was $5,345,580 compared with $4,358,141 a year ago. Income before provision for income taxes was $835,869 compared with $1,355,338 a year ago. Net income was $562,735 or $0.06 per basic and diluted share compared with $916,748 or $0.10 per basic and diluted share a year ago. Net cash used in operating activities was $4,398,469 compared with $10,391,666 a year ago. Purchase of plant and equipment was $4,276 compared with $1,227 a year ago.