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China-Biotics, Inc. Reports Fourth Quarter and Full Year Fiscal 2008 Financial Results


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

Total stockholders' equity 44,395,267 23,910,007

Total liabilities and stockholders'

equity $ 93,791,526 $ 44,579,844



(Audited, amounts expressed in US Dollars)



Net income 17,542,244 $10,904,986

Adjustment for:

Gain on disposal of plant and

equipment -- (14,793)

Depreciation 999,148 493,472

Change in fair value of convertible

notes (3,366,000) --

(Increase)/Decrease in restricted

cash -- 748,742

(Increase)/Decrease in accounts

receivable 2,261,918 (2,881,034)

(Increase)/Decrease in inventories (154,189) 65,303

(Increase)/Decrease in prepayment (1,418,658) (352,923)

(Increase)/Decrease in other

receivables 2,732

Increase/(Decrease) in accounts

payable 1,036,521 (451,305)

Increase in income tax and surcharge

tax payable 5,008,143 4,186,868

Income tax paid (2,969,765) (2,373,846)

Increase/(Decrease) in other payables

and accruals, and value added tax


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

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