omniture

BMP Sunstone Raises Non-GAAP Net Income Guidance for 2008

2008-12-19 03:02 889

Reiterates Revenue Guidance for 2008

PLYMOUTH MEETING, Pa., Dec. 19 /PRNewswire-Asia/ -- BMP Sunstone Corporation (Nasdaq: BJGP) ("BMP Sunstone" or the "Company"), today reiterated revenue guidance and increased non-GAAP net income guidance for the full year 2008.

BMP Sunstone continues to expect full year revenue in 2008 of $110 to $120 million. The Company also anticipates that non-GAAP net income for the full year 2008 will reach $5.0 to $6.0 million, an increase from prior expectations of $4.0 to $5.0 million.

David Gao, Chief Executive Officer of BMP Sunstone, stated "Today’s announcement reflects improved profitability across the Company, as well as continued demand for our products and services as we close the year and enter 2009. We remain optimistic about the growth in China’s healthcare sector and we intend to enhance our capabilities and realize additional opportunities in the future."

Non-GAAP net income excludes stock based compensation, amortization related to acquisitions and debt discount amortization and issuance cost related to $23 million in debt issued in November 2007.

About BMP Sunstone Corporation

BMP Sunstone Corporation is a specialty pharmaceutical company that is building a proprietary portfolio of branded pharmaceutical and healthcare products in China. Currently this portfolio includes eight products under exclusive multi-year licenses for China, primarily focused on women’s health and pediatrics. The Company also owns Sunstone Pharmaceutical Co. Ltd., which manufactures leading pediatric and women’s health products, including two of China’s most recognized brands, "Hao Wawa" and "Confort," sold through approximately 50,000 pharmacies in China. The Company also provides pharmaceutical distribution services through its subsidiaries in Beijing and Shanghai, and through its affiliate, Guangzhou Pharmaceuticals Corp. The Company has its main office in Beijing, with a US office in Plymouth Meeting, PA. For more information, please visit http://www.bmpsunstone.com .

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts, including but not limited to statements about the Company’s revenue and non-GAAP net income guidance for 2008, the growth in China’s healthcare sector, and the Company’s intent and ability to enhance its capabilities and realized additional opportunities. These statements are subject to uncertainties and risks including, but not limited to, operating performance, general financial, economic, and political conditions affecting the biotechnology and pharmaceutical industries and the Chinese pharmaceutical market, the ability to timely manufacture and distribute the Company’s products, the results of Alliance BMP Limited operations are less than expected and other risks contained in reports filed by the Company with the Securities and Exchange Commission. In addition, the Company disclaims any obligation to update any forward- looking statements to reflect events or circumstances after the date hereof.

Source: BMP Sunstone Corporation
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