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China Biologic Products Announces Strong First Quarter 2009 Results
Date:5/18/2009

2008 CASH FLOWS FROM OPERATING ACTIVITIES: Net income attributable to controlling interest $4,258,318 $2,267,800 Net income attributable to non-controlling interest 3,000,082 606,003 Consolidated net income 7,258,400 2,873,803 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 759,072 274,361 Amortization 838,459 26,157 (Gain) Loss on disposal of equipment -276 166 Allowance for bad debt 26,581 -- Stock based compensation 27,373 -- Change in fair value of warrant liabilities 393,023 -- Equity in income of unconsolidated affiliate -40,246 -- Change in operating assets and liabilities: Notes receivable -468,832 -- Accounts receivable -97,007 -960,482 Accounts receivable - related party -212,367 -- Other receivables -18,487 1,285 Other receivables - related party -- 1,398 Inventories -3,513,011 -1,585,462 Prepayments and deferred expenses -124,944 -96,457 Accounts payable -252,850 -310,692 Other payables and accrued liabilities 307,916 101,089 Accrued interest - related party 305,966 -- Customer deposits 2
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SOURCE China Biologic Products, Inc.
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