China Pharma Q2 Loss Narrows - Quick Facts

(RTTNews) - China Pharma Holdings (CPHI) Friday said its second-quarter net loss narrowed to $4.1 million from $8.6 million in the previous year. Loss per share was $0.09, compared to $0.20 last year.

Revenue decreased 7 percent to $5.7 million from $6.1 million for the three months ended June 30, 2014. The company noted that it was in the middle of the GMP upgrading process starting from 2014 and, as a result, missed some drug tenders in several provinces, which affected the sales of subsequent quarters.

Zhilin Li, China Pharma's Chairman and CEO, said, "Although the financial performance in this quarter did not immediately reflect the material change of our production ability, through continuing efforts, we are very confident on recovering and expanding market."