XML 46 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Sales $ 79,068,452 $ 60,073,984 $ 149,422,783 $ 116,340,561
Cost of sales 27,054,626 18,919,981 51,516,201 36,635,147
Gross profit 52,013,826 41,154,003 97,906,582 79,705,414
Operating expenses        
Selling expenses 2,604,660 3,329,175 4,555,348 5,611,661
General and administrative expenses 8,121,390 7,112,798 15,974,585 14,329,424
Research and development expenses 1,046,985 1,838,795 2,389,307 2,912,361
Income from operations 40,240,791 28,873,235 74,987,342 56,851,968
Other income (expenses)        
Equity in (loss) income of an equity method investee (666,233) 1,523,216 (761,300) 1,860,579
Interest expense (675,860) (862,957) (1,432,681) (1,484,164)
Interest income 1,467,135 1,724,324 2,843,982 3,320,202
Total other income, net 125,042 2,384,583 650,001 3,696,617
Earnings before income tax expense 40,365,833 31,257,818 75,637,343 60,548,585
Income tax expense 6,123,661 4,486,157 11,739,811 9,824,375
Net income 34,242,172 26,771,661 63,897,532 50,724,210
Less: Net income attributable to noncontrolling interest 7,518,213 7,046,706 14,011,101 12,725,584
Net income attributable to China Biologic Products, Inc. $ 26,723,959 $ 19,724,955 $ 49,886,431 $ 37,998,626
Net income per share of common stock:        
Basic $ 1.05 $ 0.83 $ 1.96 $ 1.55
Diluted $ 0.99 $ 0.79 $ 1.86 $ 1.47
Weighted average shares used in computation:        
Basic 25,019,039 23,483,090 24,918,517 24,212,766
Diluted 26,320,773 24,719,011 26,265,857 25,435,122
Net income $ 34,242,172 $ 26,771,661 $ 63,897,532 $ 50,724,210
Other comprehensive income:        
Foreign currency translation adjustment, net of nil income taxes 1,463,605 527,203 609,243 (2,589,440)
Comprehensive income 35,705,777 27,298,864 64,506,775 48,134,770
Less: Comprehensive income attributable to noncontrolling interest 7,831,571 7,140,585 14,286,683 12,245,986
Comprehensive income attributable to China Biologic Products, Inc. $ 27,874,206 $ 20,158,279 $ 50,220,092 $ 35,888,784