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American Oriental Bioengineering Reports Third Quarter 2008 Financial Results
Date:11/10/2008

-- Revenue Increased 62% to $70.6 Million in 3Q08 --

-- 3Q08 Net Income Increased 38% to $16.5 Million --

-- 3Q08 Diluted EPS $0.21 versus 3Q07 Diluted EPS $0.16 --

NEW YORK, Nov. 10 /Xinhua-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 quarter ended September 30, 2008.

Financial Results

Revenue in the third quarter of 2008 increased 62% year over year to $70.6 million from $43.5 million, reflecting a continued increase in demand for the Company's OTC and prescription pharmaceutical products. Revenue from pharmaceutical products increased 75% to $62.1 million from $35.5 million in the third quarter of 2007. Revenue from OTC pharmaceutical products increased 91% to $37.8 million from $19.8 million in the prior year's third quarter, reflecting continued recognition of the Company's new products supported by effective marketing campaigns. Sales generated by CCXA and Boke, which were not subsidiaries in the third quarter of 2007, were major contributors to the increase in OTC sales and generated a combined $17.1 million of revenue during the third quarter of 2008. Strong sales of the Jinji series and Jinji Yimucao products also contributed to the increase in OTC revenue during the third quarter of 2008. Prescription pharmaceutical products generated $24.3 million in revenue during the third quarter of 2008, a 55% year over year increase. Prescription pharmaceutical sales increasingly reflect contributions from the Company's div
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SOURCE American Oriental Bioengineering Inc.
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