logo
Share SHARE
FONT-SIZE Plus   Neg

Biostar Pharma Q4 Profit Plunges - Quick Facts

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."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Zynga Inc. (ZNGA) on Thursday reported a first-quarter loss that narrowed from a year ago, reflecting an increase in revenues despite continued drop in user-base. Earnings for the quarter trumped analysts estimates, as did revenues, sending the company's shares up 13 percent in extended trading hours. San... Shares of Fitbit Inc. (FIT) slumped over 12 percent in extended hours trading after the maker of wearable technology reported a drop in first-quarter profit hurt largely by a surge in operating costs. The company also detailed a weak outlook for the second quarter. Fitbit's profit for the first-quarter... Twenty-First Century Fox Inc., (FOXA, FOX) on Wednesday reported a third-quarter profit that dropped from last year, as an increase in revenues were offset by higher operating costs. Earnings for the quarter came in line with Wall Street estimates, while revenues trumped expectations. Fox's third-quarter...
comments powered by Disqus
Follow RTT