Biostar Pharmaceuticals, Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2015
November 24, 2015 at 02:30 am IST
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Biostar Pharmaceuticals, Inc. reported unaudited consolidated earnings results for third quarter and nine months ended September 30, 2015. For the quarter, the company's sales, net were $4.206 million against $14.651 million a year ago. Loss from operations was $1.701 million against income from operations of $0.183 million a year ago. Loss before income tax was $1.244 million against income before income tax of $0.486 million a year ago. Net loss was $1.254 million or $0.08 per basic and diluted share against net income of $0.239 million or $0.02 per basic and diluted share a year ago.
For the nine months, the company's sales, net were $25.291 million against $47.031 million a year ago. Loss from operations was $3.664 million against $0.124 million a year ago. Loss before income tax was $2.545 million against income before income tax of $2.271 million a year ago. Net loss was $1.907 million or $0.12 per basic and diluted share against net income of $2.191 million or $0.15 per basic and diluted share a year ago. Net cash used in operating activities was $0.206 million against $0.544 million a year ago. Purchase of property, plant and equipment was $30,522 against $484,778 a year ago.
Biostar Pharmaceuticals, Inc. (Biostar) is a holding company. The Company, through its subsidiary, Shaanxi Biostar Biotech, Ltd. (Shaanxi Biostar), and its variable interest entities (VIEs), Shaanxi Aoxing Pharmaceutical Co., Ltd. (Aoxing Pharmaceutical) and Shaanxi Weinan Huaren Pharmaceuticals Ltd. (Shaanxi Weinan), develops, manufactures and markets pharmaceutical products for various diseases and conditions in the People's Republic of China (PRC or China). The Company offers over-the-counter (OTC) products and prescription-based pharmaceuticals. The Company's products are sold in approximately 30 provinces in the PRC through a network of over 60 distributors and through approximately 230 sales people. The Company's products include XinAoxing Oleanolic Acid Capsule, Ganwang Compound Paracetamol Capsule, Tianqi Dysmenorrhea Capsule, Compound Paracetamol and Amantadine Hydrochloride Tablets, Deafness Tongqiao pills and Huangyangning Tablets.