Skystar Bio Pharmaceutical Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net revenues of $6,832,588 as compared to net revenues of $5,530,741 for the three months ended March 31, 2013. Overall increase in revenue was due to increase in manufacturing at the company's Huxian plant in combination with receiving product permits by the Ministry of Agriculture to manufacture select veterinary medications. Income from operations was $1,172,347 compared to $1,070,285 a year ago. Income before provision for income tax was $1,405,477 compared to $1,034,017 a year ago. Net income was $975,450 compared to $712,733 a year ago. Basic and diluted earnings per share was $0.13 compared to $0.09 a year ago. Net cash provided by operating activities was $4,597,282 compared to net cash used in operating activities of $9,782,575 a year ago. The company's revenue growth was driven by Veterinary medicine which grew 40% year over year with solid contributions coming from Skystar's other segments.

The company is currently reaffirming its business outlook and anticipates delivering an 8% to 18% year over year increase in top line revenue for fiscal 2014 as compared to the prior year. The expected revenue range is $46 million to $50 million with gross margin of roughly 50% for fiscal 2014.