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China-Biotics, Inc. Reports Third Quarter Fiscal 2010 Financial Results
Date:2/10/2010

(716,386) 957,512 Increase in tax payables 3,430,453 2,486,572 NET CASH PROVIDED BY OPERATING ACTIVITIES $13,122,357 $17,086,981 CASH FLOWS USED IN INVESTING ACTIVITIES Purchases of fixed assets $(3,183,483) $(15,953,064) NET CASH USED IN INVESTING ACTIVITIES $(3,183,483) $(15,953,064) CASH FLOWS FROM FINANCING ACTIVITIES Cash advance to a director 3,113,900 -- Repayment on advance from a director (7,908,948) -- Proceed from issuance of share capital 74,906,572 -- NET CASH PROVIDED BY FINANCING ACTIVITIES $70,111,524 $-- Effect of exchange rate changes on cash 204,165 979,753 NET INCREASE IN CASH AND CASH EQUIVALENTS BALANCES $80,254,563 $2,113,670 CASH AND CASH EQUIVALENTS BALANCES AT BEGINNING OF PERIOD 70,824,041 64,310,448 CASH AND CASH EQUIVALENTS BALANCES AT END OF PERIOD $151,078,604 $66,424,118 Supplemental disclosure cash flow information: Interest paid 1,005,859 808,219 Income tax paid 3,539,063 2,010,345 CHINA-BIOTICS, INC. AND SUBSIDIARIES RECONCILIATION OF ADJUSTED FINANCIAL DATA Three Months Ended December 31, 2010 2009 Adjusted Net Income Net Income Net Income Adjusted Amount $7,811,082 $4,260,887 Adjustments Non-cash gains from change in fair value of convertible bonds 2,668,000 1,408,0
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SOURCE China-Biotics, Inc.
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