Dow:
Nasdaq:
S&P 500:

7997.28 (-427.47)
1386.42 (-96.85)
806.58 (-52.54)

Featured Articles
Recover from Losses
Learn how to use a simply stock options strategy to cut your breakeven in half and quickly recoup losses!

How to Recession-Proof
Learn where to invest your money to minimize damage from the impending U.S. recession.

Gauge Stock Momentum
Learn how to determine when your investments have begun to lose steam to sell out before the crowd!

Research Tools
SEC Filings Analysis
Executive Compensation

American Oriental Bioengineering, Inc. (NYSE: AOB) shares are up nearly 17% in early afternoon trading Wednesday after the company released its first quarter results.

China-based American Oriental Bioengineering is a pharmaceutical company that focuses on deriving  drugs from traditional Chinese medicines that utilize naturally occurring plant materials for the Chinese prescription and over-the-counter markets.

For the first three months of the year AOB net income rose 46.2% to $9.4 million, or 12 cents per share, from $6.4 million, or 10 cents per share, a year earlier. Revenue rose similarly, up more than 50% to $38.8 million from $25.7 million a year earlier.

Mr. Tony Liu, Chairman and Chief Executive Officer of American Oriental Bioengineering, commented "We completed the first quarter of 2008, which is always our slowest sales quarter of the year, with strong financial performance. We continue to anticipate organic growth of at least 30 percent in 2008, but, more importantly, we expect to reach total revenue of at least $245 million in the full year 2008. This 50 percent-plus anticipated year over year top line growth reflects continued demand for our leading products...We also anticipate net income performance of at least $62 million, which reflects anticipated year over year net income growth of more than 43 percent.”

American Oriental Bioengineering shares are up 16.95% to $10.97 on the New York Stock Exchange as of publication.

Add to: del.icio.us | Digg