3SBio Inc. Announces Unaudited Fourth Quarter and Fiscal Year 20...( SHENYANG China March 11 Asia-Firs...)

SHENYANG, China, March 11 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX) ("3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2008.

    Fiscal Year 2008 Financial Highlights:
    -- Total net revenues increased 35.0% over 2007 to RM243.2 million
       (US$35.7 million).
    -- Adjusted non-GAAP operating income was RMB59.7 million (US$8.8 million)
       for 2008, when excluding share-based compensation expense and a RMB6.9
       million (US$1.0 million) recognition of the one-time upfront payment
       related to the licensing deal with AMAG Pharmaceuticals. Adjusted
       non-GAAP operating income was RMB49.5 million (US$6.8 million) for 2007.
       GAAP operating income for 2008 was RMB47.8 million (US$7.0 million).
    -- Adjusted non-GAAP net income was RMB75.0 million (US$11.0 million),
       further excluding non-operating investment losses on available-for-sale
       securities, comparing to adjusted non-GAAP net income of RMB79.8
       million (US$10.9 million) in 2007. GAAP net income for 2008 was RMB39.5
       million (US$5.8 million).
    -- Adjusted non-GAAP earnings per American depositary share ("ADS") were
       RMB3.46 (US$0.51), compared to RMB3.81 (US$0.52) in 2007. GAAP earnings
       per ADS for 2008 were RMB1.82 (US$0.27).


    Fourth Quarter 2008 Financial Highlights:
    -- Total net revenues increased 31.5% over the fourth quarter of 2007 to
       RMB60.1 million (US$8.8 million).
    -- Adjusted non-GAAP operating income for the fourth quarter was RMB6.1
       million (US$0.9 million) when excluding share-based compensation
       expense and the AMAG recogn
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SOURCE  3SBio Inc.
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