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Lotus Pharmaceuticals, Inc. (LTUS)

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Last Post: 10/29/2013 2:28:27 PM - Followers: 55 - Board type: Free - Posts Today: 0

Fiscal Year 2010 Financial Highlights:

  • Revenues for the 2010 fiscal year increased by 28.7% year-over-year to $72.7 million, up from $56.5 million in 2009.
    • Wholesale revenue was $51.4 million, or 70.7% of total revenues.
    • Retail revenues were $21.3 million, or 29.3% of total revenues.
  • Gross profit for the year was $39.8 million, an increase of 26.6% compared to $31.4 million in 2009. Gross margin was 54.7% and 55.6% in 2010 and 2009, respectively.
  • Adjusted* net income increased 16.7% to $21.2 million, compared to $18.2 million in 2009
  • GAAP net income decreased 12.2% year-over-year to $14.4 million, compared to $16.4 million in the previous year
  • Earnings per diluted share were $0.54 for the year, compared with diluted EPS of $0.66 achieved in the previous year
  • Management Commentary for 2010 Results:

  • Mr. Zhongyi Liu, Chairman and CEO of Lotus, stated, "We continued to expand our business in 2010 and saw especially strong growth of 83% in our retail sales segment. We entered the market for direct sales to over-the-counter drugstores in Beijing in 2010 and have already experienced tremendous success, serving more than 1,000 OTC drugstores in addition to our own 10 stores. We expect this channel to continue being a major sales growth driver in the coming year. Construction of our Beijing facility continues to progress, and we anticipate significant efficiency improvements and additional capacity for growth once we move into the new building."

    Mr. Liu continued, "We plan to focus our capital expenditures in the foreseeable future on the completion of ourBeijing facility and our core business in Beijing; as a result, we recognized a one-time, non-cash impairment loss for construction expenditures on our property in Inner Mongolia in 2010. Lotus has a well-established nationwide sales and distribution network, strong product development capabilities, and access to capital. Due to the trends of consolidation and increasing regulatory oversight in China's pharmaceuticals industry, we believe these characteristics position Lotus to emerge as an industry leader."

 AUDITOR: FRIEDMAN LLP: (85 years experience)

Friedman LLP has been serving the accounting, tax and business consulting needs of public and private companies since 1924. Our industry-focused practice features concentrated areas of expertise and understanding of the economic environment. We have the ability to be innovative in our approach, act quickly in our decision-making and be flexible in our delivery of services. Our clients benefit from hands-on contact with our partners, cutting-edge technical expertise and our understanding of their industry and their business. Our clients have the advantage of working with a mid-size accounting firm that combines the staff and resources of a large firm with a philosophy of personal responsibility for our clients. Please also visit our practice and service areas to learn more about our firm. (source: http://www.friedmanllp.com/firm_overview.php)

Inc. 5000 AMERICA'S FASTEST GROWING PRIVATE COMPANIES BEST FIRMS TO WORK FOR 2008 FINALIST 2008 BEST PLACES TO WORK CRAINS 2010 BEST PLACES TO WORK

See link below for most recent RedChip Conference with LTUS Presentation from Xing Shen:

http://www.redchip.com/visibility/video/displayClientVideoflashconf.asp?symbol=LTUS&root=VCFEB2011&fileloc=LTUS_VCFEB2011_pres&descr=RedChip%20Virtual%20Conference%20VI)

 

 

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#846   something going on with LTUS and LPIH rphilip 10/29/13 02:28:27 PM
#845   No volume, no news; a 150% increase on Derf11 09/12/13 09:54:29 AM
#844   LTUS isup by 147% kranthikumar 09/11/13 09:48:32 AM
#843   LTUS is up by 170% kranthikumar 09/09/13 11:02:57 AM
#842   Bunch of chi-coms can't be trusted. Crooks! trapper2013 05/20/13 03:19:48 PM
#841   Someone is buying finally. Wonder what's going on. michaelstl 04/05/13 01:55:29 PM
#840   You nailed it no Chinese companies ever again, nefariouswu 01/09/13 03:04:42 PM
#839   Yeah, I had high hopes also but what Chiroman07 01/04/13 02:25:39 PM
#838   Guessing it would be very tough to effectively BigBernDogg 01/04/13 02:14:15 PM
#837   Let us face the truth, we got scammed Chiroman07 01/03/13 11:35:31 AM
#836   What surprises me is that these criminals have Chiroman07 12/17/12 05:34:15 PM
#835   Anybody see them letting this continue to dwindle BigBernDogg 11/28/12 09:51:21 PM
#834   I tried to email them but the email Chiroman07 11/15/12 04:49:59 PM
#833   I tried calling the former LOTUS rep for Derf11 11/13/12 12:43:56 PM
#832   Does anyone know when this dead beat company Chiroman07 11/05/12 12:20:30 PM
#831   Do you think this company is going to Chiroman07 09/26/12 04:19:04 PM
#830   Chiroman07 09/26/12 04:19:04 PM
#829   Chiroman07 09/26/12 04:19:04 PM
#828   I believe the CO is going along just rphilip 09/04/12 01:59:06 PM
#827   Has anyone heard anything about if LTUS is Derf11 08/22/12 04:35:18 PM
#826   all sells here today....wo 5 cent backer where tmonkey 04/17/12 04:11:05 PM
#825   i was in a long time ago when tmonkey 04/17/12 03:43:58 PM
#824   Not a bull or a bear - just ErnieBilco 04/17/12 08:41:21 AM
#823   eb are you really a bull here....crooks are tmonkey 04/17/12 07:26:25 AM
#822   I'd buy a set with the money I'm ErnieBilco 04/10/12 08:31:52 PM
#821   best buy might have the old shows on saj 04/10/12 08:28:01 PM
#820   Phil was one of the best....wish they would ErnieBilco 04/10/12 08:05:55 PM
#819   i'm in good company bought .058 and added saj 04/10/12 07:11:04 PM
#818   I hold em til they payoff - I'm ErnieBilco 04/10/12 05:13:43 PM
#817   Wow, you here too....still holding the other SIP*? byrd36 04/10/12 05:09:40 PM
#816   I have the stomach for buying some macaroons ErnieBilco 04/10/12 05:06:21 PM
#815   Ouch ... Da Ghost 04/10/12 12:19:11 PM
#814   LOL. If there are investors that would like to jaxstraw 04/10/12 11:43:46 AM
#813   Public Announcement From Lotus Pharmaceuticals, Inc. surf1944 04/10/12 10:17:42 AM
#812   Yes. value1008 02/21/12 02:11:48 PM
#811   Was the split back in December of 2010 NeoSage 02/21/12 11:16:19 AM
#810   Mr. Toups’s resignation was not due to any bradford86 01/17/12 09:10:35 AM
#809   The way it looks, LTUS had about $55 derf1 01/15/12 08:13:07 AM
#808   Even Toups can't stand the bs factor at cliffvb 01/11/12 08:11:11 PM
#807   http://people.forbes.com/profile/michael-toups/145317 lol apparently he still bradford86 01/11/12 11:53:44 AM
#806   email i sent today to a guy who bradford86 01/11/12 11:41:33 AM
#805   it's worth noting that all of my research bradford86 01/11/12 11:35:55 AM
#804   http://www.marketwatch.com/story/lotus-pharmaceuticals-announces-business-reorga bradford86 01/11/12 11:35:17 AM
#803   Doesn't quite pass the sniff test does it? olivernoyes 01/05/12 03:35:31 PM
#802   Remember, LTUS has been taking big tax credits guildcrantz 01/05/12 10:21:08 AM
#801   And the liabilities magically matched the exact price BigOnChina 01/05/12 08:43:43 AM
#800   You missed this... they get rid of the stills999 01/04/12 04:32:30 PM
#799   OK, so unless I'm reading today's press release BigOnChina 01/04/12 04:10:50 PM
#798   I listened to the rebroadcast of the conference. derf1 11/15/11 08:45:40 PM
#797   I missed the CC but it should be cliffvb 11/15/11 10:36:46 AM
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