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 Skystar Bio-Pharmaceutical Reports Second Quarter 2011 Results
 
CreateTime:2011-08-23 Editor:hangmei
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XI'AN, CHINA, Aug 22, 2011 (MARKETWIRE via COMTEX) -- Skystar Bio-Pharmaceutical Company ( SKBI.NSDQ)("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today reported unaudited second quarter fiscal year 2011 earnings, for the period ended June 30, 2011.

Second Quarter 2011 Highlights

       
        --  Revenue increases 10% YoY to $9.1 million
            --  Veterinary vaccines totaled $0.4 million, up 1.2% YoY
            --  Veterinary medicines totaled $6.3 million, up 15% YoY
            --  Feed additives totaled $0.4 million, up 6% YoY
            --  Micro-organism products totaled $2.0 million, flat YoY
        --  Gross margin of 49% for the second quarter of fiscal 2011 as compared
            to 53% in the year ago period
        --  Net income of $1.5 million or $0.21 per fully diluted share, compared
            with net income of $2.4 million or $0.33 per fully diluted share in
            the year ago period
        --  6% increase in the number of distribution agents and direct customers
            from 1,026 in Q1 to 2,253 in Q2
       
       

First Half 2011 Financial Highlights

       
        --  First half fiscal 2011 revenue increases 23% YoY to $16.2 million
        --  Gross margin of 50% for the first half of fiscal 2011 as compared to
            53% in the year ago period
        --  Net income of $3.4 million or $0.48 per fully diluted share, compared
            with net income of $3.5 million or $0.49 per fully diluted share in
            the year ago period
       


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