China Yongxin Pharmaceuticals, Inc. (CYXN) Announces 2009 Projected Financials
China Yongxin Pharmaceuticals Inc., a leading producer and distributor of Chinese traditional medicines, pharmaceuticals, health food, cosmetics, and related products, today announced projected financial results for the year ending December 31, 2009. Although net income for the year is projected to increase 35% to $5.4 million, over 2008, a shift in sales strategy has led to a reduction in projected revenues. 2009 revenues are now projected to be $46.1 million, down 22% from $59.1 million in 2008. The company’s sales strategy is being shifted from wholesale to the retail and medical facilities sector due to the uncertain direction of the…