Biostar Pharmaceuticals Inc (BSPM) saw its loss narrow to $5.70 million, or $2.50 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $25.11 million, or $11.40 a share. Revenue during the year plunged 91.21 percent to $2.38 million from $27.13 million in the previous year. Gross margin for the year contracted 255 basis points over the previous year to 38.38 percent.
Operating loss for the year was $3.56 million, compared with an operating loss of $23.76 million in the previous year.
Operating cash flow declines Biostar Pharmaceuticals Inc has generated cash of $4.91 million from operating activities during the year, down 16.41 percent or $0.96 million, when compared with the last year. The company has spent $6.38 million cash to meet investing activities during the year as against cash outgo of $7.38 million in the last year.
Cash flow from financing activities was $1.41 million for the year as against cash outgo of $0.16 million in the last year period.
Cash and cash equivalents stood at $0.17 million as on Dec. 31, 2016, up 345.50 percent or $0.13 million from $0.04 million on Dec. 31, 2015.
Debt comes down Biostar Pharmaceuticals Inc has recorded a decline in total debt over the last one year. It stood at $2.33 million as on Dec. 31, 2016, down 16.14 percent or $0.45 million from $2.77 million on Dec. 31, 2015. Biostar Pharmaceuticals has recorded a decline in short-term debt over the last one year. It stood at $2.33 million as on Dec. 31, 2016, down 16.14 percent or $0.45 million from $2.77 million on Dec. 31, 2015.
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