China Biologic posts 2nd-qtr sales and profit rises
Beijing-based China Biologic Products (Nasdaq: CBPO) has announced its unaudited financial results for the second quarter of 2013, showing that total sales increased 6.2% to $53.6 million compared with the like, 2012 period. Gross profit increased 9.1% to $37.5 million from $34.3 million, while gross margin rose to 69.9% from 68.0% in the second quarter of 2012.
Income from operations leapt 18.8% to $25.3 million and operating margin increased to 47.2% from 42.2%. Net income attributable to the company increased 25.9% to $16.2 million and fully-diluted net income per share was $0.57 compared to $0.46 in the same quarter of 2012. Non-GAAP adjusted net income attributable to the company was $17.4 million, representing a year-on-year rise of 30.8%. Non-Generally Accepted Accounting Principles (GAAP) net income per share was $0.62, compared to $0.50.
Continued market demand for plasma products
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