Aida predicting solid growth through 2008

By Lisa Kerner

Charlotte, N.C., Sept. 21 - Aida Pharmaceuticals, Inc. reported total cash and cash equivalents of $5.7 million and shareholders' equity of $7.2 million at June 30.

The Hangzhou, China, pharmaceutical company is targeting 10% to 15% revenue growth for the year, with projected 2006 year-end revenue ranging between $27 million and $28.2 million.

Aida is targeting earnings growth of 30% to 40% for the year, or a projected 2006 year-end earnings range between $1.9 million and $2.05 million.

In the long term, Aida projects a 15% to 30% revenue growth in 2007 and 2008. The recent acquisition of Shaghai Qiaer Biotechnology and plans to bring Rh-Apo2L to market are expected to boost Aida's 2008 consolidated revenues to almost $100 million, the company said.

To continue driving long-term value, the company said it will consider acquiring pharmaceutical companies focused on antibiotics, cardiovascular, gene therapy and cancer treatments.

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