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China Sky One Medical, Inc. Announces Record Second Quarter 2009 Results

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
    -- 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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