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China Biotics announce 3rd Quarter 32% sales increase

China Biotics announce 3rd Quarter 32% sales increase

China-Biotics, Inc., a leading Chinese firm specializing in the manufacture, research, development, marketing and distribution of probiotics products, today announced its financial results for the third quarter of its 2009 fiscal year, ended December 31, 2008. Third Quarter 2009 Highlights -- Net sales increased 32.5% year-over-year to $15.8 million -- Gross profit increased 28.3% year-over-year to $11.2 million, with gross margin of 71% -- Net income increased 40.2% year-over-year $5.7 million -- Excluding a $1.4 million gain related to the change in fair value of convertible notes, net income increased 5.4% year-over-year to $4.3 million -- Diluted earnings per share were $0.22, compared to $0.23 the prior year -- Signed agreements with six additional business customers to supply probiotics as bulk additives for dairy products [...more]

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