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Lotus Pharmaceuticals Announces Second Quarter 2008 Results
Date:8/18/2008

Ended Ended

June 30, June 30,

2008 2007 2008 2007

(As Restated) (As Restated)

NET REVENUES:

Wholesale $17,161,230 $9,819,373 $26,931,327 $14,993,316

Retail 718,645 516,594 1,402,393 893,014

Other revenues 1,505,737 2,469,485 2,761,069 5,208,657

Total Net

Revenues 19,385,612 12,805,452 31,094,789 21,094,987

COST OF SALES 9,696,718 7,311,471 17,465,143 12,974,387

GROSS PROFIT 9,688,894 5,493,981 13,629,646 8,120,600

OPERATING EXPENSES:

Selling expenses 5,875,549 791,784 6,997,886 1,422,796

Research and

development 471,243 109,153 1,181,468 200,975

General and

administrative 542,043 988,233 1,168,460 1,718,810

Total Operating

Expenses 6,888,835 1,889,170 9,347,814 3,342,581

INCOME FROM OPERATIONS 2,800,059 3,604,811 4,281,832 4,778,019

OTHER INCOME (EXPENSE):

Debt issuance

costs (99,517) (58,680) (162,403) (88,020)

Registration

rights penalty -- (56,000) (110,000)

Interest income 2,027 -- 2,588 --

Interest expense (522,660) (448,606) (946,009) (701,173)

Total Other

Income

(Expense) (620,150) (563,286) (1,105,824) (899,193)

INCOME BEFORE INCOME

TAXES 2,179,909 3,041,525 3,176,008 3,878,826

INCOME TAXES -- --
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SOURCE Lotus Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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