Tongjitang Chinese posts declining Q4 profit

NYSE-listed Tongjitang Chinese Medicines Company released its 2007 fourth quarter and full year financial results on Monday.

For the fourth quarter, net revenues rose 18% year-on-year to RMB 179.7 million (US$ 24.6 million). The net income was RMB 18.1 million (US$2.5 million) and earnings per share was RMB 0.13 (US$ 0.02), down 46% and 62% respectively compared with the same period last year.

For the full year of 2007, revenues rose 23% to RMB 596 million (US$81.7 million). The net income improved 27% to RMB 171.2 million (US$ 23.5 million). Earnings per share declined or RMB 1.35 (US$0.19) per share.

Shenzhen-based Tongjitang Chinese Medicines Company is a vertically integrated and profitable specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China.