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American Oriental Bioengineering Reports First Quarter 2008 Financial Results
Date:5/7/2008

-- Revenue Increased 50.7% to $38.8 Million in 1Q08 --

-- 1Q08 Net Income Increased 46.2% to $9.4 Million -- -- 1Q08 Diluted EPS $0.12 versus 1Q07 Diluted EPS $.10 on 11.6 Million

Additional Shares --

NEW YORK, May 7 /PRNewswire-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter ("OTC") products in China, today announced financial results for the first quarter ended March 31, 2008.

Revenue in the first quarter of 2008 increased 50.7% to $38.8 million from $25.7 million in the first quarter of 2007, reflecting continued increased demand for the Company's core OTC and prescription pharmaceutical products. Revenue from pharmaceutical products increased 71.6% to $31.9 million from $18.6 million in the prior year's first quarter, driven by sales of Shuanghuanglian Injection Powder, Cease Enuresis Soft Gel and Jinji Series of products. Revenue from OTC pharmaceutical products increased 138% to $21.2 million from $8.9 million in the prior year's first quarter. Sales of the Jinji series and Jinji Yimucao products were major contributors to this increase as well as sales generated by CCXA and Boke, which were not subsidiaries in the first quarter of 2007. Prescription pharmaceutical products generated $10.6 million in revenue during the first quarter of 2008, a 10% year over year increase. This increase was the result of increased brand recognition, effective pricing and expanded distribution coverage to new rural markets. Nutraceutical product revenue declined approximately 3% to $6.9 million in first
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SOURCE American Oriental Bioengineering Inc.
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