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Genesis Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2009

ding on drugs. We believe that Genesis is well positioned to grow its sales and market reach, and we are confident that we will meet our fiscal year 2009 guidance," concluded Mr. Cao. "We expect revenue for fiscal 2009 to be from $122.0 to $130.0 million, and operating income to be from $40.0 to $43.0 million, excluding the impact of the Hongrui purchase."

Conference Call

Genesis Pharmaceuticals Enterprises, Inc. management will host a conference call at 9:00 a.m. Eastern Time on Tuesday, February 17, 2009 to discuss financial results for the quarter ended December 31, 2008. Mr. Wubo Cao, Chairman and CEO, Ms. Elsa Sung, CFO, and Mr. Haibo Xu, COO, of Genesis will be present for the conference call. To participate in this live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time of 9:00 a.m. Eastern Time on Tuesday, February 17, 2009: (888) 419-5570. International callers should call (617) 896-9871. The Conference Passcode is 694 125 61. Replay of the conference call will be available from Tuesday, February 17, 2009 at 11:00 a.m. Eastern until Tuesday, March 3, 2009. To access the replay, call (888) 286-8010. International callers should call (617) 801-6888. The Conference Passcode is: 398 758 52.

Use of Non-GAAP Financial Information

This press release includes certain financial information, adjusted net income and adjusted fully diluted earnings per share, which are not presented in accordance with GAAP. Adjusted net income was derived by taking earnings before unrealized losses on trading securities and non-cash amortization of debt discount and debt issuance costs related to convertible securities. The Company's management believes that these non-GAAP measures provide investors with a better understanding of the Company's historical results from its core business operations. To supplement the Company's condensed consoli

SOURCE Genesis Pharmaceuticals Enterprises, Inc.
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