Tianyin Pharmaceutical Co., Inc. reported net income of $15.9 million, or $0.09 per diluted share, in the third fiscal quarter of 2010. The company earned $1.9 million, or $0.08 per diluted share, in the corresponding quarter in fiscal 2009.
Tianyin Pharmaceutical Co., Inc. reported revenue of $15.9 million in the third fiscal quarter of 2010. This was 60% higher than the $9.9 million reported in the same quarter last fiscal year.
Management of Tianyin Pharmaceutical Co., Inc. attributed the strong revenue growth to expansion of the company’s sales channel and higher utilization of its manufacturing facility.
Dr. Jiang, Guoqing, the CEO of Tianyin Pharmaceutical Co., Inc., said, “Our steadfast efforts in sales expansion, market penetration, new production utilization and portfolio optimization were reflected by another quarter of solid growth in both top and bottom line.”
Tianyin Pharmaceutical Co., Inc. also reaffirmed guidance for fiscal 2010 revenue of $63 million, and net income of $11 million. If the company realizes these goals, it would result in revenue growth of 48% and net income growth of 40%.
Tianyin Pharmaceutical Co., Inc. is headquartered in Chengdu, China, and develops and sells modernized versions of traditional Chinese medicine and generic pharmaceuticals. The company currently has 42 products in its marketing portfolio, and received 12 drug approvals in 2009 from regulatory authorities in China.
For more information on the company, visit www.tianyinpharma.com