Sinobiopharma, Inc. (SNBP.OB) Announces FY 2010 Financial Results; 101% Increase in Revenues
Sinobiopharma, Inc., a fully integrated and highly innovative specialty pharmaceutical company focused on biopharmaceutical products in China, today announced its financial results for the fiscal year ended May 31, 2010. Highlights included a 101% year-over-year increase in total revenue to approximately $7.7 million, a 142% increase in gross margin to approximately $6.2 million, or 80% of sales, net income of $2.9 million versus the previous year's loss of $2.2 million, and EPS of $0.03 compared to $(0.03) for the same period 2009. Dr. Lequn Lee Huang, Sinobiopharma's Chairman and CEO, stated the following: "This has been a great year for…