China Biologic Products Announces Strong First Quarter 20...(se forward-looking statements. ...)

                         - FINANCIAL TABLES FOLLOW -


                  CHINA BIOLOGIC PRODUCTS, INC. AND SUBSIDIARIES

         CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
                FOR THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008
                                   (Unaudited)

                                                     2009            2008

    REVENUES                                     $21,148,598      $7,849,007
    COST OF SALES                                  6,214,930       1,948,898
    GROSS PROFIT                                  14,933,668       5,900,109

    OPERATING EXPENSES:
      Selling expenses                               579,496         494,529
      General and administrative expenses          3,822,907       1,584,128
      Research and development expenses              467,727         183,782
    Total operating expenses                       4,870,130       2,262,439

    INCOME FROM OPERATIONS                        10,063,538       3,637,670
      Equity in income of unconsolidated
       affiliate                                     -40,247              --
      Change in fair value of warrant
       liabilities                                   393,023              --
      Interest expense (income), net                 370,853          22,973
      Other expense (income), net                     51,315             412
    Total other expenses (income), net               774,944          23,385

    INCOME BEFORE PROVISION FOR INCOME TAXES
     AND NONCONTROLLING INTEREST                   9,288,594       3,614,285

    PROVISION FOR INCOME TAXES                     2,030,194         740,482

    NET INCOME BEFORE NONCONTROLLING INTEREST      7,258,400       2,873,803

    Less: Net income attributable to
     noncontrolling interest                       3,000,082         606,003

    NET INCOME ATTRIBUTABLE T
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SOURCE  China Biologic Products, Inc.
Copyright©2009 PR Newswire.
All rights reserved

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