American Oriental Disappoints – Analyst Blog
Zacks Market Commentaries (November 18th, 2009) Writes:
American Oriental Bioengineering’s (AOB) third quarter earnings per share came in at 13 cents, well below the Zacks Consensus Estimate of 19 cents and 21 cents in the year ago period. The company derives revenues from two operating segments – Manufacturing and Distribution. During the quarter, Manufacturing accounted for more than 95% of the company’s total revenues.
Total revenues increased 11.7% year over year to $78.8 million. American Oriental records Manufacturing revenues from two sources – Pharmaceutical and Nutraceutical products. Both sources recorded an increase of 6.3% to $66 million and 8.2% to $9.2 million, respectively, compared to the third quarter of 2008. The company generated $3.6 million from its Distribution business during the reported quarter.
Revenues from prescription pharmaceutical products increased 22.7% to $29.8 million during the quarter, primarily driven by increased sales of Jinji capsule, Boke and CCXA products, partially offset by decline in sales of Shuanghuanglian injection
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