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American Oriental Bioengineering Reports Fourth Quarter and Full Year 2009 Financial Results
Date:3/15/2010

ey">$11.6 million in the prior year period. Selling and marketing expenses decreased 17.4% to $14.1 million from $17.1 million in the prior year period, and advertising expense decreased 22.7% to $9.5 million in the fourth quarter of 2009, compared to $12.3 million in the prior year period. Research and development expenses increased to $6.7 million compared with $0.6 million in the prior year, reflecting the Company's efforts in R&D activities including the setup of the centralized R&D centre in Beijing, China in 2009. General and administrative expenses increased 35.5% to $6.5 million from $4.8 million in the prior year period, primarily driven by increased expenses on optimizing the management team in view of the changing market environment and on the accounting-related professional fees resulting from the increased number of subsidiaries being audited and additional audit fees.

Net income attributable to controlling interest for the fourth quarter of 2009 was $11.7 million, compared to $7.8 million in the prior year period. Excluding $1.4 million of interest expense on convertible securities, $0.2 million of amortized financing costs related to the Company's outstanding convertible notes and $0.3 million capitalization of debt interest, the Company's net income attributable to controlling interest was

SOURCE American Oriental Bioengineering, Inc.
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