Biostar Pharmaceuticals, Inc. Announces Second Quarter 2009 Financi...(5529) -- (29482) Impai...)

Date:8/14/2009

5,529) -- (29,482) Impairment loss on building (248,730) -- (248,730) -- Foreign exchange loss (10) -- (10) -- Total other Income (Expense) (248,557) (14,087) (248,247) (27,961) Income before income taxes 5,215,423 2,003,543 7,524,606 4,108,571 Provision for income taxes 1,360,246 245,577 1,840,397 529,475 Net income $3,855,177 $1,757,966 $5,684,209 $3,579,096 Net income per common share Basic $0.17 $0.08 $0.24 $0.16 Diluted $0.16 $0.08 $0.24 $0.15 Weighted average common shares outstanding Basic 23,240,899 22,152,311 23,240,899 22,152,311 Diluted 23,659,071 23,240,899 23,659,071 23,240,899 BIOSTAR PHARMACEUTICALS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended June 30, 2009 2008 CASH FLOWS FROM OPERATING ACTIVITIES Net income $5,684,209 $3,579,096 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 332,468 319,598 Provision for doubtful accounts -- 186,085 Impairment loss on building 248,730 -- Changes in operating assets and liabilities: Accounts receivable (3,582,534) (6,163,071) Inventories (244,529) (141,382) Deposit
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