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Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results
Date:8/19/2007

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Retained earnings 2,554,004 2,952,343

Accumulated other comprehensive income 743,696 460,020

Total shareholders' equity 14,989,049 9,747,230

Total liabilities and shareholders'

equity $17,801,527 $12,246,974

SKYSTAR BIO-PHARMACEUTICAL COMPANY AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND OTHER COMPREHENSIVE INCOME

FOR THE SIX MONTHS AND THREE MONTHS ENDED JUNE 30, 2007 AND 2006

Three months ended Six months ended

June 30 June 30

2007 2006 2007 2006

Unaudited Unaudited Unaudited Unaudited

Revenue $3,374,459 $2,762,247 $4,742,269 $3,757,435

Cost Of Sales 1,411,291 1,506,295 2,108,326 2,026,734

Gross Profit 1,963,168 1,255,952 2,633,943 1,730,701

Research And

Development Costs 75,225 85,747 106,881 105,086

Amortization Of Deferred

Compensation 101,375 341,145 462,274 341,145

Selling Expenses 148,139 75,574 257,567 143,482

General And Administrative

Expenses 405,071 104,835 721,622 311,072

Income From Operations 1,233,358 648,651 1,085,599 829,916

Other Income (Expenses)

Other income(expense) (148,385) (1,014) (141,226) (1,230)

Interest expense (703,019) - (866,515) -

Income Before Provision

For Income Taxes 381,954 647,637 77,859 828,686

Provision For Income Taxes 233,643 164,294 300,267 191
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SOURCE Skystar Bio-Pharmaceutical Co.

Copyright©2007 PR Newswire.

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