Tanke Biosciences Corporation reported audited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company had revenue of $7,431,486, a 49% improvement on revenue of $4,989,843 in the second quarter of 2011. Operating income was $1,497,349, a 652% increase on operating income of $229,569 in the same quarter a year ago. The company's net income was $272,414, or $0.02 per share, compared to a net loss of $1,653,819, or $0.12 per share in last year's second quarter. Non-cash expenses on amortization of discount on notes and offering costs totaling $889,538 were charged against net income in the second quarter of 2012. The company's improved second quarter performance was primarily due to increased demand for the company's most popular product - organic trace mineral additives - whose sales increased by $2,573,246, or 65%, over the same quarter in 2011. Income before income taxes was $585,916 compared to loss before income taxes was $1,546,866 a year ago.

For the first six months, the company reported revenue of $11,971,928, a 10% gain on revenue of $10,931,313 in the first six months of 2011. Operating income was $1,985,857, compared to an operating loss of $485,383 in the comparable year-ago period. The 2011 period was impacted by a non-cash expense in the form of a stock issuance, valued at $2,490,098, remitted as payment for consulting fees related to going public. The company reported a net loss of $398,563, or $0.03 per share, compared with a net loss of $3,678,470, or $0.29 per share, in the first half of 2011. Non-cash expenses on amortization of discount on notes and offering costs totaling $1,779,075 were charged against net income in the first six months of 2012. Similar non-cash expenses totaled $2,756,589 for the same period in 2011. Income before income taxes was $585,916 compared to loss before income taxes was $31,635 compared to loss before income taxes was $3,358,162 a year ago.