Skystar Bio Pharmaceutical Company Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Reiterates Earnings Guidance for the Fiscal 2013
For the nine months, the company reported revenue of $32,858,294 against $25,730,190 a year ago. Income from operations was $4,737,701 against $3,641,389 a year ago. Income before provision for income taxes was $9,997,829 against $8,103,779 a year ago. Net income was $8,197,811 against $6,334,874 a year ago. Basic and diluted earnings per share were $1.08 against $0.85 a year ago. Net cash used in operating activities was $10,020,354 against $6,439,293 a year ago. Purchases of property, plant and equipment were $9,290 against $157,782 a year ago.
The company reiterated its fiscal 2013 guidance to be in the range of $40 million to $45 million. The company expects solid revenue growth and expansion in fiscal 2014.