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Tianyin Pharmaceutical Co., Inc. Announces Record Second Quarter 2010 Financial Results
Date:2/8/2010

$4.8 million $3.8 million +24% Adjusted Net Income $5.5 million $3.8 million +48% GAAP EPS (Diluted) $0.17 $0.16 +6% Adjusted EPS (Diluted) $0.19 $0.16 +19% Weighted Shares Outstanding 28.5 million 24.7 million +15%

Second Quarter Ending December 31, 2009 Financial Results

Revenue for the second quarter of fiscal 2010 was approximately $14.9 million, an increase of 47.9% compared to $10.1 million for the second quarter of fiscal 2009. The increase was attributable to higher sales of both existing and new products, channel expansion efforts that increased market penetration, and increased utilization of the Company's expanded production facility. Revenues from the top three selling products, Ginkgo Mihuan Oral Liquid, Arpu Shuangxin Oral Liquid and Azithromycin Dispersible Tablets, were $7.6 million and represented approximately 51% of total revenues collectively for the quarter.

Cost of goods sold for the three months ended December 31, 2009 was approximately $7.2 million or 48.1% of revenue as compared to $4.9 million or 49.0% of revenue for the three months ended December 31, 2008, yielding a gross profit of $7.8 million and gross margins of 51.9%, compared to $5.2 million in gross profit and gross margins of 51.0% during the second quarter of fiscal 2009. Gross margins improved as a result of an increase in higher margin products in the sales mix along with greater efficiencies in our production and manufacturing processes.

Operating expenses
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SOURCE Tianyin Pharmaceutical Co., Inc.
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