August 19, 2011
Tibet Pharmaceuticals Announces Availability of Second Quarter 2011 Earnings Call Transcript
SHANGRI-LA COUNTY, China, Aug. 19, 2011 /PRNewswire/ -- Tibet Pharmaceuticals, Inc. (NASDAQ: TBET), an emerging specialty pharmaceutical company engaged in the development, manufacturing and marketing of traditional Tibetan medicine in China, today announced the availability of the transcript for its second quarter 2011 earnings conference call, held on August 16th.
During the conference call Sally He, Tibet Pharmaceutical's VP and Assistant to the Chairman, stated, "As evidenced by our numbers this year, Tibet Pharmaceuticals has positioned itself to take full advantage of the favorable market conditions in China."
Summary of Second Quarter 2011 Financial Results:
- Revenue of $8.7 million, an increase of 12% from $7.8 million in Q2 2010
- Net income of $3.5 million compared to $3.4 million in Q2 2010
- Fully diluted EPS of $0.25
Ms. He continued, "As we move into the third quarter of 2011, we expect to further increase awareness of our top selling traditional Tibetan medicines, with a particular focus on organic growth and accretive acquisitions."
Throughout the conference call Tibet's management talked about the company's portfolio of traditional Tibetan medicine products, its operations and production capacity and full details surrounding its revenue and earnings numbers for the second quarter ended June 30, 2011 and the first half of fiscal 2011.
Interested parties are encouraged to read the full transcript of the conference call, which is available here:
About Tibet Pharmaceuticals, Inc.
Based in Shangri-La County, Yunnan Province, China, Tibet Pharmaceuticals, Inc. (NASDAQ: TBET) is a rapidly growing specialty pharmaceutical company engaged in the research, development, manufacturing and marketing of modernized traditional Tibetan medicines in China. With over 190 employees and nation-wide distributors, the company develops both prescription and over-the-counter traditional Tibetan medicines that promote health in human respiratory, digestive, urinary and reproductive systems. Tibet Pharmaceuticals' products are sold throughout China, with a majority of sales concentrated in the southern provinces, most notably Yunnan Province, where the company's 52,000 sq. ft. GMP-certified manufacturing facilities are located. The access to key raw materials, not generally available outside the province, provides a significant advantage for Tibet Pharmaceuticals.
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This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. Specifically, references herein to contemplated growth in company revenues and/or earnings are forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Financial Communications Contact:
Trilogy Capital Partners - Asia
Darren Minton, President
SOURCE Tibet Pharmaceuticals, Inc.