HARBIN, China, Aug. 14 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company in the People's Republic of China ("PRC"), today announced record financial results for the second quarter of 2009.
Second Quarter 2009 Highlights -- Total revenues increased 35.5% year-over-year to $32.2 million -- Gross profit increased 34% year-over-year to $24.4 million -- Operating income increased 19.8% to $12.1 million -- Net income increased 16.6% year-over-year to $9.5 million, or $0.57 per diluted share -- Received SFDA approval to manufacture five new products, including Geranium ointment, Musk liniment, Diclofenac Sodium eye drops, Acyclovir gel, Shuanghuanglian suppositories -- Received SFDA approval to enter into clinical trials for Diclofenac Sodium suppositories -- Renewed production license for Sumei Slim Patch through April of 2013 -- Signed an agreement with Taiwan Golden Biotechnology Corporation to begin cooperating on the development of a new anti-cancer drug called Antroquinonol -- Engaged PricewaterhouseCoopers to assist the Company in continuing to comply with the financial reporting and control requirements of Sarbanes-Oxley Act Section 404 ("SOX 404") by December 31, 2009
"We are pleased to report another quarter of excellent results. Our
products, especially our biological diagnostic kits achieved rapid sales
growth, and sales of diversified products from our acquisitions in 2008 also
made a strong contribution to our second quarter results. In the quarter, we
launched a series of marketing campaigns in four of China's provinces to
promote our skin-care products unde
|SOURCE China Sky One Medical, Inc.|
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