HARBIN, China, March 4 RenhuangPharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or the "Company"), adeveloper, manufacturer and distributor of botanical products,bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, todayannounced revenue and net income guidance for fiscal year 2010 ("FY 2010")ending October 31, 2010.
Renhuang expects revenues for FY 2010 to be in the range of $54.7-$55.6million, which represents a 26% to 28% increase over reported revenues of$43.4 million in fiscal year 2009. The Company expects FY 2010 net income tobe in the range of $18.6-$18.9 million, up 26% to 28% from net income of $14.8million in fiscal year 2009.
"We anticipate strong organic growth in the top- and bottom-line to bedriven by our continued focus on higher margin product offerings and expandingour direct sales efforts," commented Mr. Shaoming Li, Renhuang's chairman andCEO. "As the leading supplier of Siberian Ginseng (Acanthopanax)-basedproducts and with an extensive nationwide distribution network, we areconfident in our ability to capitalize on China's rapidly growingpharmaceutical market and continue our track record of delivering robustgrowth. In addition, positive financial growth in the first quarter of fiscal2010 strengthens our confidence in meeting our guidance for fiscal year 2010."
About Renhuang Pharmaceuticals, Inc.
Renhuang Pharmaceuticals, Inc. is engaged in the research, development,manufacturing, and distribution of botanical products, bio-pharmaceuticalproducts, and traditional Chinese medicines ("TCM"), in the People's Republicof China. All of the Company's products are produced at its threeGMP-certified production facilities in Ah City, Dongfanghong and Qingyang.The Company distributes its botanical anti-depression and nerve-regulationproducts, bio-pharmaceutical products, and botanical antibiotic and OTC TCMsthrough its extensive distribution network of over 3,000 distributors and morethan 70 sales centers across 24 provinces in China.
Safe Harbor Statement
Certain statements in this press release constitute forward-lookingstatements for purposes of the safe harbor provisions under The PrivateSecurities Litigation Reform Act of 1995. Forward-looking statements involverisks and uncertainties, some of which are not currently known that may causeactual results, performance or financial condition to be materially differentfrom the expectations of future results, performance or financial conditionexpressed or implied in any forward-looking statements. These forward-lookingstatements are based on our current expectations and projections about futureevents and financial trends that we believe may affect our financial condition,results of operations, business strategy and financial needs but they involverisks and uncertainties that could cause actual results to differ materiallyfrom those in the forward-looking statements, which may include, but are notlimited to, such factors as unanticipated changes in product demand and marketacceptance of the Company's products, the Company's ability to meet itsfinancial guidance, competition in the marketing and sales of its products,and other factors detailed in the Company's annual report on Form 10-K andother filings with the Securities and Exchange Commission. The Company assumesno obligation and does not intend to update any forward-looking statements,except as required by law.For more information, please contact: Company Contact: Renhuang Pharmaceuticals, Inc. Ms. Portia Tan, IR Contact Phone: +86-451-5392-5461 Email: [email protected]
CCG Investor Relations: Ms. Lei Huang, Account Manager Phone: +1-646-833-3417 (New York) Email: [email protected]
Web: http://www.ccgirasia.com Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Email: [email protected]
SOURCE Renhuang Pharmaceuticals, Inc.