Lotus Pharmaceuticals, Reports $21 Million in Revenues and $4.1 Million in Net Profits in Quarterly Filing
Lotus Pharmaceuticals, Inc. released its second quarter results, with revenues topping $21 million, net profits of $4.1 million, and net assets of $17 million. r. Adam Wasserman, Lotus Chief Financial Officer, reported: ``Total revenues for the six months ended June 30, 2007 were $21,095,000 as compared to total revenues of $16,047,000 for the six months ended June 30, 2006, an increase of $5,048,000 or approximately 31.5%. Lotus' working capital position increased $4,783,000 to $13,429,000 at June 30, 2007 from $8,646,000 at December 31, 2006.''
Dr. Shaohua Tan, Genesis Director in Beijing, observed: ``Lotus seems to go from strength-to-strength. Just six weeks ago, Gold Horse International joined Lotus as a graduate from our private-to-public program. We are hopeful that a third Chinese partner company, prominent in environmental technologies, will join these alumni as a new U.S. public company before the end of Genesis' current fiscal year.''