China Pharma Q1 Net Loss Widens - Quick Facts

China Pharma Holdings Inc. (CPHI) reported that its first-quarter net loss widened to $0.7 million or $0.02 per share, from $0.4 million or $0.01 per share last year, as a result of decreased revenue, whereas the expenditures did not decrease in proportion to revenue due to fixed costs.

Zhilin Li, China Pharma's Chairman and CEO, said, "The current outbreak of COVID-19 has had a material and adverse effect on the Company's business operations. We had experienced disruptions and restrictions on our ability to travel and to distribute our products, as well as temporary closures of our facilities or the facilities of the suppliers or customers."

Revenue for the quarter decreased 39.8% to $1.8 million from last year's $2.9 million, due to the negative impact of the outbreak of COVID-19.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of HSBC Holdings Plc were gaining in London and Hong Kong trading after the Asia-focused lender reported Monday that its first-half profit more than doubled, despite weak revenues. Looking ahead, the company said while uncertainties remain, the outlook is more positive with evidence of growth in strategic areas. After Disney World, retail giant Walmart Inc. (WMT) makes it mandatory for all its employees to wear mask on their facilities in the "high-risk" states where the Delta variant of Coronavirus has become menacing. The orders will be in effect immediately. The Center for Disease Control and Prevention... Generac Power Systems is recalling 325,735 units of Generac and DR 6500 Watt and 8000 Watt portable generators for potential risk of finger amputation and crushing hazards, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. These include 4,575 units sold in Canada.
Follow RTT