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American Oriental Bioengineering
Chinese biotech company reports $1.1M profit
May 14th, 2003
American Oriental Bioengineering, Inc., (AOBO) reported its results for the year ended December 31, 2002. Net profit for 2002 was $1,127,257, a decrease of $188,851 from $1,316,108 for 2001. However, should the merger cost (which incurred as a result of the merger activities) be taken out from the operating expenses, the company actually showed a growth of $416,840 or 32% in net profit against 2001. Operating expenses totaled $4,845,675 for 2002, an increase of $2,099,045 from $2,746,630 for 2001, mainly due to increase in business activity level and the incurring of merger cost of $605,691. As of December 31, 2002, the company...
Source: Biotech Week (2003-05-14)
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