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

941

Commitments and contingencies

Stockholders' equity:

Common stock (par value of $0.0001,

100,000,000 shares authorized,

41,461,004 shares issued and

outstanding as of June 30, 2008) $ 4,146 $ 4,146

Additional paid-in capital 7,863,031 7,863,031

Retained earnings 33,063,894 29,827,144

Treasury stock at cost (24,381,004

shares) (2,438) (2,438)

Accumulated other comprehensive

income 4,503,489 3,677,590

Capital and statutory reserves 3,025,794 3,025,794

Total stockholders' equity $ 48,457,916 $ 44,395,267

Total liabilities and stockholders'

equity $ 101,553,273 $ 93,791,526

CHINA-BIOTICS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(Amounts expressed in US Dollars)

Three months ended

June 30,

2008 2007

CASH FLOW FROM OPERATING ACTIVITIES

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

Adjustment for:

Changes in the fair value

of embedded derivatives 1,239,000 --

Depreciation 298,691 142,310

(Increase)/Decrease in

accounts receivable 2,793,079 2,786,747

(Increase)/Decrease in inventories (197,308) 6,318

(Increase)/Decrease in prepayments 211,580 (57,156)

Increase/(Decrease) in

accounts payable
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SOURCE China-Biotics, Inc.
Copyright©2008 PR Newswire.
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