Pharmaceutical company American Oriental Bioengineering Inc. said Thursday its fourth-quarter profit grew 40 percent on strong pharmaceutical sales growth.
The company reported income of $15.2 million, or 20 cents per share, compared with $10.9 million, or 17 cents per share, in the year-ago period.
Analysts polled by Thomson Financial, on average, estimated earnings of 20 cents per share on sales of $57 million.
Revenue rose 39 percent to $57.3 million from $41.3 million in the fourth quarter of 2006.
The jump in revenue is a result of continued demand for the company's core prescription and over-the-counter pharmaceutical products, American Oriental said, as well as from acquisitions.
Revenue from pharmaceutical products rose 52 percent to $47.8 million. Prescription drug product sales generated $22.2 million, while over-the-counter product sales increased 55 percent to $25.6 million.
For the full year, income rose 48 percent to $43.3 million, or 61 cents per share, from $29.2 million, or 46 cents per share, in 2006.
Revenue jumped 46 percent to $160.5 million from $110.2 million in the previous year.
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