UPDATE: China Pharma Holdings, Inc. (CPHI) Reports Q2 EPS of $0.00 on Revenues of $3.77M

(Updated - August 14, 2020 6:34 AM EDT)

China Pharma Holdings, Inc. (NYSE: CPHI) reported Q2 EPS of $0.00, versus ($0.02) reported last year. Revenue for the quarter came in at $3.77 million, versus $2.57 million reported last year.

Second Quarter Highlights

• Revenue increased 46.8% to $3.8 million in the second quarter 2020 from $2.6 million in the same period of 2019;
• Gross margin was 30.5% in the second quarter 2020, compared to 6.4% in the same period of 2019;
• Income from operations was $0.1 million in the second quarter 2020 compared to loss from operations of $0.8 million in the same period of 2019, an improvement of approximately $0.8 million;
• Net income was $0.01 million in the second quarter 2020 compared to net loss of $0.84 million in the same period of 2019. Earnings per common stock was $0.00 per basic and diluted share in the second quarter 2020, as compared to loss per common stock of $0.02 per basic and diluted share in the second quarter of 2019.
• We completed a foreign trade of COVID-19 testers in the second quarter of 2020. This one-time business contributed approximately $1.7 million to our revenue for the three months ended June 30, 2020.

Ms. Zhilin Li, China Pharma's Chairman and CEO, commented, "The COVID-19 outbreak continued to have a substantial negative impact on our sales of pharmaceutical products. Many people try to avoid going to the hospital for fear of cross-contamination or potential infection. However, the majority of our existing products are prescription drugs. The macro-environment has negatively impacted our drug sales in this period. Fortunately, we completed a one-time foreign trade business this quarter. Due to the continued spread of COVID-19 in the international community, COVID-19 testers have become an urgently needed product in many markets. We have actively leveraged market information as well as our expertise to complete the order in an efficient manner." Ms. Li continued, "along with the lasting efforts to place emphasis on the marketing and sales of our current exiting pharmaceutical products, we continue to explore in the field of comprehensive healthcare. Comprehensive healthcare focuses on people's daily life, aging and disease and pays attention to all kinds of risk factors and misunderstandings affecting health. We aim to leverage our expertise in the PRC for the development, manufacture and commercialization of pharmaceutical and comprehensive healthcare products for the benefit of human health."

For earnings history and earnings-related data on China Pharma Holdings, Inc. (CPHI) click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) tops Q1 earnings, revenue estimates; FY guidance updated
• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• Keurig Dr Pepper Inc. (KDP) Tops Q1 EPS by 3c; confirms guidance