Aoxing Pharmaceutical Reports Q3 Fiscal 2016 Financial Results
(firmenpresse) - FOSTER CITY, CA -- (Marketwired) -- 05/16/16 -- (NYSE MKT: AXN) today announced that for the third quarter of fiscal year 2016, ended March 31, 2016, the Company reported revenues of $6,563,944, a modest decline of 0.4% year-over-year from the revenues of $6,590,736 realized during the three months ended March 31, 2015. When the revenues are stated in the local currency (RMB), revenues in the fiscal third quarter increased 6.5% year-over-year. Fiscal third quarter is a relatively slow quarter, mainly due to reduced sales activities during the Chinese New Year holidays, which typically happen during January and February. Also, we noticed that there was some impact of timing on revenue, as several key orders were shifted from the fiscal third quarter to the fiscal fourth quarter. We also noted that inventories in the distribution channels were relatively low at the end of the fiscal third quarter 2016, which is usually a good predictor of increased sales activities in the following quarter.
The Company''s net income in Q3 of fiscal year 2016 was $622,720, or $0.01 per share, compared to $777,976, or $0.01 per share, for the three months ended March 31, 2015.
Aoxing''s cash balance as of March 31, 2016 was $6,046,327, compared to $5,371,545 as of June 30, 2015, the end of its last fiscal year.
Mr. Zhenjiang Yue, Chairman and CEO of Aoxing Pharma, said, "While fiscal third quarter is a relatively slow quarter due to Chinese New Year holidays, we do see a significant revenue growth for our products other than Zhongtong''an. We believe strong sales growth for our Zhongtong''an product will continue in the fiscal fourth quarter, and we are still trying to achieve our sales target for the fiscal year 2016 despite the slowdown in sales growth in the third quarter of fiscal year 2016. For our Tilidine tablets, we are now near the end of the preparation work. The Tilidine tablets from the API procurement and production to distribution are regulated and tracked by the relevant government agencies, and we have recently received the related documentation from the government. At this point, we expect Tilidine tablet production to start by the end of the fiscal year 2016."
Aoxing Pharmaceutical Company, Inc. is a U.S. incorporated pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, outside Beijing, Aoxing Pharma has the largest and most advanced manufacturing facility in China for highly regulated narcotic medicines. Its facility is one of the few GMP facilities licensed for the manufacture of narcotic medicines by the China Food and Drug Administration ("CFDA"). For more information, please visit: .
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and so these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company''s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company''s periodic reports that are filed with the Securities and Exchange Commission and available on the SEC''s website (). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Aoxing Pharmaceutical Company, Inc.
646-367-1747
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 16.05.2016 - 06:00 Uhr
Sprache: Deutsch
News-ID 1435187
Anzahl Zeichen: 3708
contact information:
Contact person:
Town:
FOSTER CITY, CA
Phone:
Kategorie:
Medical Devices
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 195 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Aoxing Pharmaceutical Reports Q3 Fiscal 2016 Financial Results
"
steht unter der journalistisch-redaktionellen Verantwortung von
Aoxing Pharmaceutical Company, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
