Skystar Bio-Pharmaceutical Announces Second Quarter 20... (451 Net Income (Loss) 1483...)

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Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results

Date:8/19/2007

,451

Net Income (Loss) 148,311 483,343 (222,409) 637,235

Other Comprehensive Income

Foreign currency

translation adjustment 180,517 26,719 283,676 72,980

COMPREHENSIVE INCOME $328,826 $510,062 $61,267 $710,215

(LOSS) EARNINGS PER

SHARE (EPS)

- Basic $0.01 $0.05 $(0.02) $0.07

- Diluted $(0.22) $0.05 $(0.26) $0.07

Weighted average number

of common shares used

to compute EPS

- Basic 12,795,549 9,606,115 12,795,549 9,606,115

- Diluted 17,471,234 9,606,115 16,132,513 9,606,115

SKYSTAR BIO-PHARMACEUTICAL COMPANY AND SUBSIDIARY

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2007

Adjusted Net income Q2 2007 Six Months 2007

Net Income (Loss) Net Diluted Net Diluted

Diluted EPS Income EPS Income EPS

Adjusted Amount 771,041 0.04 533,116 0.03

Adjustments

Deferred Debenture Expense (1) 122,628 0.007 163,504 0.01

Discount on Debenture (2) 500,102 0.029 592,020 0.04

Discount on convertible debenture

net of interest expense (3) 0.23 0.23

Amount per consolidated statement

of operations 141,311 (0.22) (222,409) (0.26)

(1) Non cash expense related to debt issue costs

(2) Non cash expense related to costs of amortization of convertible

debenture and warrants

(3) Adds back the write down of the remaining discount on convertible

debentures of $4,075,000 net of interest expense
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SOURCE Skystar Bio-Pharmaceutical Co.

Copyright©2007 PR Newswire.

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