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China Medicine Announces Strong Second Quarter 2008 Results
Date:8/13/2008

TAXES 572,176 338,326 840,943 538,285

INCOME BEFORE MINORITY

INTEREST 2,448,391 1,098,049 3,596,727 1,838,738

MINORITY INTEREST 17,833 29,085 45,310 52,117

NET INCOME 2,466,224 1,127,134 3,642,037 1,890,855

OTHER COMPREHENSIVE

INCOME

Foreign currency

translation

adjustment 744,658 559,325 2,071,824 559,325

COMPREHENSIVE INCOME $3,210,882 $1,686,459 $5,713,861 $2,450,180

EARNINGS PER SHARE

Basic $0.16 $0.09 $0.24 $0.18

Diluted 0.16 0.08 0.23 0.15

WEIGHTED AVERAGE SHARES

OUTSTANDING

Basic 15,206,124 12,160,111 15,118,595 10,692,414

Diluted 15,634,713 14,232,457 15,547,183 12,764,759

CHINA MEDICINE CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2008 AND DECEMBER 31, 2007

A S S E T S

2008 2007

Unaudited

CURRENT ASSETS

Cash $2,771,459 $5,767,774

Accounts receivable, trade, net of

allowance for doubtful accounts

of $59,212 and $55,640 as of June

30, 2008 and December 31, 2007,

respectively 15,176,874 13,626,347

Notes receivables 1,718,702 --

Inventories 5,029,693 3,948,460

Advances to suppliers 9,937,629 5,983,277

Other current assets
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SOURCE China Medicine Corporation
Copyright©2008 PR Newswire.
All rights reserved

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