China Kangtai Cactus Biotech Inc. announced yesterday that its 2010 third quarter revenue increased by 16.3% to $9.5 million from the same period last year. The company also reported a gain in net income, which went up 889% to $8.2 million, or $0.13 per diluted share.
China Kangtai Cactus Biotech posted a variety of financial statistics, giving a general overview of its performance. Gross profit margin was 38% compared with 40% in the third quarter of 2009. Income from operations decreased from $3.5 million in 2009 to $3.1 million. Weighted average number of diluted shares outstanding was 21.6 million for Q3 2010 compared with 19.7 million for Q3, 2009.
The company also took the opportunity to report on its past nine months of activity; revenue for the nine months increased 32% to $23.8 million. Similarly, net income rose 804% to $8.2 million. Nine-month income from operations increased 6% to $6.6 million from $6.2 million in the same period of 2009.
China Kangtai Cactus Biotech, Inc.’s product line includes nutraceuticals, nutritious food, health and energy drinks, beer, wine and liquor, extracts and powders, and animal feed. The company controls over 387 acres of plants and maintains an active Research & Development group that currently holds 18 product patents. For more information on the company, please visit its website at www.biocactus.com
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