Acro Biomedical Co., Ltd. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 19, 2020 at 04:54 pm EDT
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Acro Biomedical Co., Ltd. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced operating loss was USD 62,771 compared to USD 68,092 a year ago. Net loss was USD 63,699 compared to USD 50,824 a year ago. For the half year, sales was USD 687,964. Operating income was USD 18,786 compared to operating loss of USD 282,858 a year ago. Net income was USD 17,417 compared to net loss of USD 220,574 a year ago.
Acro Biomedical Co., Ltd. is principally engaged in the business is the sale of cordyceps related products. The Company is focused on developing and marketing nutritional products that promote wellness and a healthy lifestyle. The Company's business consists of selling cordyceps related products that is used in traditional Chinese medicine. Cordyceps is a fungus, which is a combination of a caterpillar and a fungus, which is found at altitudes above 4500 meters (m) in Sikkim. The Company is involved in the purchase of products from three suppliers in Taiwan and the sale of these products to four unrelated customers. It sells products in bulk to companies who may use the Company's products as ingredients in their products or sell the products they purchase from the Company to their own customers.
ACRO BIOMEDICAL CO., LTD. 
