ShangPharma Reports 26% Increase in Q1 Revenues

ShangPharma, the China CRO that completed its IPO on the NYSE last October, announced its Q1 revenues climbed 26% to $24.8 million and net income (GAAP) rose a somewhat smaller 10% to $3 million. Results were in line with expectations. The company said higher share-based compensation expenses, appreciation of the yuan, and higher material costs kept a lid on profit, offsetting a rise in overall efficiency. More details.... Stock Symbol: (NYSE: SHP)     Share this with colleagues: