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China-Biotics, Inc. Reports First Quarter 2009 Financial Results
Date:8/14/2008

e Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

--FINANCIAL TABLES FOLLOW--

CHINA-BIOTICS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts expressed in US Dollars)

Three months ended June 30,

2008 2007

Net sales $ 11,370,657 $ 9,515,333

Cost of sales (3,258,669) (2,650,972)

Gross profit $ 8,111,988 $ 6,864,361

Operating expenses:

Selling expenses $ (2,369,859) $ (1,316,344)

General and administrative expenses (1,426,797) (809,564)

Total operating expenses $ (3,796,656) $ (2,125,908)

Income from operations $ 4,315,332 $ 4,738,453

Other income and expenses:

Changes in the fair value of

embedded derivatives (1,239,000) --

Other income $ 1,538,889 $ 71,660

Other expenses -- (6,924)

Total other income (expenses) $299,889 $ 64,736

Income before taxes $ 4,615,221 $ 4,803,189

Provision for income taxes (1,378,471) (1,262,956)

Net income $ 3,236,750 $ 3,540,233

Earnings per share:

Basic $ 0.19 $ 0.21

Diluted $ 0.23 $ 0.21

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SOURCE China-Biotics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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