China Yongxin Pharmaceuticals Inc. (CYXN.OB) Reports Higher Revenue and Net Income for First Quarter of 2010
China Yongxin Pharmaceuticals Inc. reported net income of $2.35 million, or $0.04 per diluted share, for the first quarter of 2010. The company reported net income of $390,000 or $0.01 per diluted share, in the same quarter in 2009. Revenues also increased sharply on a year over year basis, from $9.2 million in the first quarter of 2009 to $10.7 million in the quarter just ended. China Yongxin Pharmaceuticals Inc. reported that the Retail Drug Store segment saw a 20% increase in revenue, while the Wholesale Pharmaceutical Distribution segment had a 7% increase in revenues. China Yongxin Pharmaceuticals Inc. said…