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China Sky One Medical, Inc. Announces Record First Quarter 2008 Results
Date:5/13/2008

10 12,498,303

The Components of Other Comprehensive Income

Net Income $3,864,911 $1,549,321

Foreign currency translation adjustment 1,620,516 258,766

Comprehensive Income $5,485,427 $1,808,087

Comprehensive Income $5,485,427 $1,808,087

China Sky One Medical, Inc. and Subsidiaries

Consolidated Balance Sheets

March 31, December 31,

2008 2007

(unaudited) (audited)

ASSETS

Current Assets

Cash and cash equivalents $38,237,994 $9,190,870

Accounts receivable 9,446,680 10,867,106

Other receivables 40,577 40,200

Inventories 794,730 371,672

Prepaid expenses 12,895 17,707

Total current assets 48,532,876 20,487,555

Property and equipment, net 7,110,186 6,861,432

Land deposit 9,036,409 8,003,205

Intangible assets, net 2,285,104 1,933,014

$66,964,575 $37,285,206

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities

Accounts payable and accrued expenses $2,503,762 2,845,308

Wages payable 491,035 381,482

Welfare payable 222,518 221,911

Taxes payable 1,733,135 1,567,188

Deferred revenu
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SOURCE China Sky One Medical, Inc.
Copyright©2008 PR Newswire.
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