Biostar Pharmaceuticals, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
November 15, 2017 at 04:30 pm EST
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Biostar Pharmaceuticals, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported loss from operations was $1,528,035 against $6,860,303 a year ago. Loss before income taxes was $1,314,387 against $6,844,223 a year ago. Net loss was $1,314,387 or $0.50 per basic and diluted share against $6,902,448 or $3.12 per basic and diluted share a year ago.
For the six months, the company reported loss from operations was $2,567,386 against $7,528,822 a year ago. Loss before income taxes was $2,328,536 against $7,522,789 a year ago. Net loss was $2,328,536 or $0.88 per basic and diluted share against $7,522,789 or $3.40 per basic and diluted share a year ago. Net cash provided by operating activities was $4,856,965 against $353,633 a year ago.
Biostar Pharmaceuticals, Inc. (Biostar) is a holding company. The Company, through its subsidiary, Shaanxi Biostar Biotech, Ltd. (Shaanxi Biostar), and its variable interest entities (VIEs), Shaanxi Aoxing Pharmaceutical Co., Ltd. (Aoxing Pharmaceutical) and Shaanxi Weinan Huaren Pharmaceuticals Ltd. (Shaanxi Weinan), develops, manufactures and markets pharmaceutical products for various diseases and conditions in the People's Republic of China (PRC or China). The Company offers over-the-counter (OTC) products and prescription-based pharmaceuticals. The Company's products are sold in approximately 30 provinces in the PRC through a network of over 60 distributors and through approximately 230 sales people. The Company's products include XinAoxing Oleanolic Acid Capsule, Ganwang Compound Paracetamol Capsule, Tianqi Dysmenorrhea Capsule, Compound Paracetamol and Amantadine Hydrochloride Tablets, Deafness Tongqiao pills and Huangyangning Tablets.