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Shengtai Pharmaceutical, Inc. Reports Second Quarter Fiscal 2009 Financial Results
Date:2/13/2009

987,708 Statutory reserves 3,003,993 2,894,902 Retained earnings 19,183,395 19,136,577 Accumulated other comprehensive income 5,004,847 4,717,121 Total shareholders' equity 47,517,424 46,755,403 Total liabilities and shareholders' equity $105,204,553 $101,313,662 Shengtai Pharmaceutical, Inc. Consolidated Statements of Cash Flows For the six months ended December 31, 2008 and 2007 (Unaudited) 2008 2007 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $155,909 $5,382,096 Adjustments to reconcile net income to cash (used in) provided by operating activities: Depreciation 2,124,286 1,187,166 Amortization 26,110 23,820 Bad debt expense 77,061 -- Stock option expense 317,636 -- (Gain) Loss on equipment disposal 201,766 (90,098) Loss on disposal of land use right -- 5,955 Earnings on equity investment (33,412) (149,756) Change in operating assets and liabilities: Accounts receivable 1,383,582 (311,689) Notes receivable (243,183) (772,571) Other receivables 482,406 1,186,223 Other receivables - related party -- 2,531,257 Other receivables - shareholder -- 1,254,248
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