Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Biostar Pharma Q4 Profit Plunges - Quick Facts

RELATED NEWS
Trade BSPM now with 

Biostar Pharmaceuticals, Inc. (BSPM), Tuesday, reported a sharp decline in profit for the fourth quarter, on higher operating expenses and a non-cash impairment loss.

The China-based company reported a fourth quarter net profit of $0.83 million or $0.03 per share, compared to $6.1 million or $0.22 per share last year. Net profit was mainly affected by $2.3 million increase in research and development expenses and a non-cash impairment loss of $1.8 million.

Total revenue for the quarter decreased 8.1 percent to $25.98 million from $28.27 million last year.

Biostar's Chief Executive Officer and Chairman Ronghua Wang said, "With the 2011 acquisition of Shaanxi Weinan, we increased our portfolio of drug approvals and permits by an additional 86 drugs and one health product. Currently, we are manufacturing eleven products at Shaanxi Weinan's facilities, and we expect to generate over $5 million in net sales in 2012 from the sale of these products."

Click here to receive FREE breaking news email alerts for Biostar Pharmaceuticals Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month. Democrats have climbed into the lead on a generic ballot, according to the results of a new CNN/ORC International poll, although the results may not be as positive for the party as they first appear. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.