Tanke BioSciences Corp. (TNBI) Turns to Profit in Q2 2012; Announces Sales Increases in Quarterly and Six-Month Results
Tanke BioSciences, a China-based agritech company, today announced its financial results for the second quarter and first six months of 2012, reporting a quarterly turn-to-profit and a 49 percent improvement in sales vs. the second quarter of last year. Tanke recorded net income of $272,411, or $0.01 per share, compared to a loss of $1.65 million, or a loss of $0.12 per share, in the second quarter of 2011. Revenues for the 2012 quarter came in at $7.43 million vs. revenues of $4.98 million in the comparable quarter of the year prior. For the first six months ended June 30,…