Renhuang's 3rd-qtr 2007 profit falls to $2M

Harbin, China-based Renhuang Pharmaceuticals says that its third-quarter 2007 net income was $2.0 million, compared to $2.6 million in the like, year-ago period. Net sales reached $5.1 million versus $5.4 million, as earnings per share fell to $0.057 from $0.075.

During the period, total revenues were lower as a result of some production down time due to maintenance scheduled in the third quarter, the seasonally slowest quarter of the year. Also, in an effort to improve accounts receivables, the company says it worked extensively in this quarter with its customers and slowed order shipments to some customers who were late on payments, which resulted in lower sales.

The firm, an integrated developer, manufacturer and distributor of a broad line of nutraceutical, natural medicinal and bio-pharmaceuticals, says that its income consisted of 53% from Acanthopanax-base products, 16% from Shark Power Health Care and 31% from traditional Chinese medicines.