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AOBO prioritizes R&D investment

This article was originally published in The Tan Sheet

Executive Summary

Operating expenses increase 24.6 percent to $21.9 million in American Oriental Bioengineering's fiscal 2010 first quarter, reflecting higher expenses at its Beijing research and development facility. The Shenzhen, China- and New York-based firm's revenue grew 16.7 percent to $53.7 million in the quarter ended March 31, though net income fell 56.4 percent to $3.1 million. Increasing raw material prices contributed to a lower gross profit margin, the firm said. AOBO's nutraceutical business revenue climbed 8.5 percent to $9.7 million, helped by higher sales of beverages launched in 2009. OTC sales grew 7.6 percent to $19.9 million thanks to greater consumer uptake of AOBO's Boke and CCXA brands
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