Skystar Bio Pharmaceutical Company Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012; Revises Revenue Guidance for the Fiscal 2012
For the nine months, the company reported net revenues of $25,730,190 against $37,086,158 a year ago. Income from operations was $8,397,894 against $12,153,949 a year ago Income before provision for income taxes was $8,103,779 against $13,372,150 a year ago. Net income was $6,334,874 or $0.85 per basic and diluted share against net income of $11,166,883 or $1.56 per diluted share a year ago. Net cash used in operating activities was $6,122,253 against $2,800,257 a year ago. Purchases of plant and equipment were $157,782 against $58,560 a year ago.
For the fiscal year 2012, the company anticipates revised top line revenue guidance of $33 million to $38 million.