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Biostar Pharmaceuticals, Inc. Announces First Quarter 2010 Financial Results
Date:5/17/2010

nge loss (5,641) -- Total Other Income (Expense) (8,086) 310 Income before income taxes 3,124,890 2,309,183 Provision for income taxes 861,575 480,151 Net income $2,263,315 $1,829,032 Net income per common stock Basic $0.09 $0.08 Diluted $0.08 $0.08 Weighted average number of common stocks outstanding Basic 25,129,674 23,240,899 Diluted 27,341,138 23,509,458 BIOSTAR PHARMACEUTICALS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED Three Months Ended March 31, 2010 2009 CASH FLOWS FROM OPERATING ACTIVITIES Net income $2,263,315 $1,829,032 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 138,403 166,269 Stock-based compensation 154,490 -- Changes in operating assets and liabilities: Accounts receivable (1,030,791) (2,123,128) Inventories (224,825) 11,535 Prepaid expenses and other receivables 13,420 (387,054) Accounts payable and accrued expenses 248,346 371,398 Customer advances -- (36,193) VAT payable (421,316) 37,044 Income tax payable
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SOURCE Biostar Pharmaceuticals, Inc.
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