China Shenghuo Pharmaceutical Holdings, Inc. reported net income of $2,355 in the first quarter of 2010 compared to a net loss of $2.9 million in the first quarter of 2009.
China Shenghuo Pharmaceutical Holdings, Inc. attributed the higher net income to improved sales of Xuesaitong, the company’s main drug product. Management also cited better control of operating expenses during the quarter.
Gui Hua Lan, the CEO of China Shenghuo Pharmaceutical Holdings, Inc. said, “The increases in sales and net income were primarily due to the Company’s continuous efforts to promote the sales of products and the efforts to control our costs. Our primary products, Xuesaitong Soft Capsules continued to produce meaningful growth in a difficult market environment.”
The success at which China Shenghuo Pharmaceutical Holdings, Inc. controlled costs during the first quarter of 2010 was seen in the improvement of the company’s gross margin. The company reported that gross margin was 74% in the quarter, compared to 66% in the first quarter of 2009. Selling, general and administrative expenses fell by 35% on a year over year basis.
China Shenghuo Pharmaceutical Holdings, Inc. main product is Xuesaitong, a soft gel tablet that contains the ingredient Panax Notoginseng Saponins. The drug is used to improve blood circulation in patients with cardiovascular disease.
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For more information on the company, go to www.shenghuo.com.cn