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Genesis Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2009
Date:2/17/2009

considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

                       - Financial Statements Follow -



          GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES

       CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
                                 (UNAUDITED)

                       For the Three Months Ended   For the Six Months Ended
                              December 31,                 December 31,
                           2008          2007          2008          2007
    REVENUES:
      Sales            $32,944,809  $25,154,071    $60,265,493  $40,416,860
      Sales -
       related
       parties                  --    1,394,662        243,909    2,742,757
    TOTAL REVENUES      32,944,809   26,548,733     60,509,402   43,159,617

      Cost of sales      7,138,166    6,524,403     12,851,210   10,730,348
      Cost of sales
       - related
       parties                  --      292,040         54,493      676,209
    COST OF SALES        7,138,166    6,816,443     12,905,703   11,406,557

    GROSS PROFIT        25,806,643   19,732,290     47,603,699   31,753,060

    RESEARCH AND
     DEVELOPMENT
     EXPENSE             1,098,525      937,390      2,196,450    1,202,310

    SELLING,
     GENERAL AND
     ADMINISTRATI
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SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2009 PR Newswire.
All rights reserved

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