Tibet Pharmaceuticals second quarter revenue increases 12% to $8.7 million

Aug 20 2011

Tibet Pharmaceuticals, Inc. (NASDAQ: TBET), an emerging specialty pharmaceutical company engaged in the development, manufacturing and marketing of traditional Tibetan medicine in China, today announced the availability of the transcript for its second quarter 2011 earnings conference call, held on August 16th.

During the conference call Sally He, Tibet Pharmaceutical's VP and Assistant to the Chairman, stated, "As evidenced by our numbers this year, Tibet Pharmaceuticals has positioned itself to take full advantage of the favorable market conditions in China."

Summary of Second Quarter 2011 Financial Results:

• Revenue of $8.7 million, an increase of 12% from $7.8 million in Q2 2010
• Net income of $3.5 million compared to $3.4 million in Q2 2010
• Fully diluted EPS of $0.25

Ms. He continued, "As we move into the third quarter of 2011, we expect to further increase awareness of our top selling traditional Tibetan medicines, with a particular focus on organic growth and accretive acquisitions."