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China-Biotics, Inc. Reports Second Quarter 2009 Financial Results
Date:11/11/2008

$-- $665,000 $--

Other income 157,468 282 1,862,988 71,942

Other expenses (50,947) (13,011) (217,579) (19,935)

Total other income

(expenses) $2,010,521 $(12,729) $2,310,409 $52,007

Income before taxes $5,791,217 $2,952,822 $10,406,438 $7,756,011

Provision for income

taxes (1,319,097) (982,689) (2,697,568) (2,245,645)

Net income $4,472,120 $1,970,133 $7,708,870 $5,510,366

Earnings per share:

Basic $0.26 $0.11 $0.45 $0.32

Diluted $0.13 $0.11 $0.37 $0.32

Weighted average

shares outstanding:

Basic 17,080,000 17,080,000 17,080,000 17,080,000

Diluted 19,163,333 17,080,000 19,163,333 17,080,000

CHINA-BIOTICS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

(Amounts expressed in US Dollars)

Six months ended

September 30,

2008 2007

CASH FLOW FROM OPERATING ACTIVITIES

Net income $7,708,870 $5,510,366

Adjustment for:

Changes in the fair value of embedded

derivatives (665,000) --

Depreciation 863,740 349,111

(Increase)/Decrease in accounts

receivable 3,044,946 5,992,036

(Increase)/Decrease in inventories (344,093) (383,380)

(Increase)/Decrease in prepayments 19,822 (1,693,248)
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SOURCE China-Biotics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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