Universe Pharmaceuticals INC (UPC) stock soared 13.16% in the pre-market trading session at the price of $1.29 despite no fundamental updates. The last reported news was its financial results for fiscal 2021.
UPC, located in Jian, produces and distributes pharmaceutical products in China. The company specializes in the production, sales, marketing, and distribution of conventional Chinese medicine to address elders’ physical needs in the aging process and facilitate their well-being.
UPC Fiscal 2021 Earnings Report
On 31st January 2022, UPC published its financial results for the fiscal year ended 30th September 2021. Revenues totaled US$48.0M for fiscal 2021, representing a 56.3 percent surge from US$30.7M for fiscal 2020. For fiscal 2021, the company had US$13.6M in operating income. It represents a 32.6 percent gain from US$10.3M for the prior year.
UPC has a net income of US$11.3M for the fiscal year 2021, representing a 49.8 percent surge from US$7.6M for fiscal 2020. Earnings per share totaled US$0.70 for fiscal 2021. It represents a growth of 48.9 percent from US$0.47 for fiscal 2020. On 30th September 2021, the company had US$8.1M in cash, compared to US$10.1M on 30th September 2020.
CEO of UPC, Mr. Gang Lai, remarked that they are delighted to publish their results for fiscal 2021 and proud to accomplish considerable growth in business. Their robust financial performance demonstrates UPC’s significant business development. Their priority during 2021 was to invest in R&D, expand their sales network, and improve product quality.
Gang added that UPC has established cooperation affinities with several renowned pharmaceutical research institutes during fiscal 2021. These include a partnership deal with Japan-based Kitanihon Pharmaceuticals, focused on the research, production, development, and distribution of Kampo medical products.
Looking onwards, they will leverage strong supply channel and tactical business operations to expand the business, enhance financial metrics, and create more value for stakeholders. The company has dedicated to delivering quality products and contributing to social welfare, Gang concluded.