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China-Biotics, Inc. Reports Record Quarterly and Annual Revenue Growth for Fiscal Year 2010
Date:6/13/2010

decreased from 31.8% in the fourth quarter fiscal year 2009 to 27.1% in the fourth quarter of fiscal year 2010.

Operating income was $10.8 million compared with $5.7 million in the same period of fiscal year 2009, reflecting an 89.1% year-over-year increase.

Excluding the non-cash losses from the change in value of convertible bonds, non-GAAP net income was $8.8 million, compared with $5.6 million in the fourth quarter of fiscal year 2009. Non-GAAP diluted EPS was $0.36, increased from $0.33 in the fourth quarter of fiscal year 2009, on a greater number of shares outstanding in 2010.

GAAP net income for the fourth quarter of fiscal year 2010 was $2.9 million, compared with net income of $6.6 million in the same period of fiscal year 2009. Diluted net income per share were $0.13, compared with diluted earning per share $0.39 in the same period of 2009, on a greater number of shares outstanding.

As of March 31, 2010, the Company had cash and cash equivalents totaling $155.6 million, compared with $151.1 million at the end of December 2009, and compared with total liabilities of $76.8 million. Total stockholders' equity rose to $156.2 million at March 31, 2010, from $153.3 million at December 31, 2009.

The Company expects to com
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SOURCE China-Biotics, Inc.
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