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Nasdaq-listed China Biologic sees profit for Q1 over double

May. 9, 2012 (China Knowledge) - China Biologic Products Inc<CBPO>, one of the leading plasma-based biopharmaceutical companies in the county, has posted US$13 million-net profit attributable to shareholders for the first quarter of 2012, reflecting a year-on-year jump of 105.4% from US$6.3 million.

On a non-GAAP basis, the Nasdaq-listed firm's net profit attributable to shareholders surged 59.6% year on year from US$8 million to US$12.7 million in the reporting period.

Diluted earnings per American Depositary Share were US$0.44 in the three months ended Mar. 31, 2012, more than US$0.23 in the first quarter of 2011. Non-GAAP diluted earnings per ADS reached US$0.48 in the first quarter of this year, compared with US$0.31 in the same period of last year.

Total sales increased 37% from a year earlier to US$47.2 million in the first quarter of 2012.

Gross profit increased 25.2% year on year to US$31.5 million in the same period, with gross margin of 66.7%, 6.3 percentage points lower than 73% in the first quarter of 2011.

China Biologic Products had US$85 million in cash as of Mar. 31, 2012, said the company.

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