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Tianyin Pharmaceutical Co., Inc. Announces Second Quarter 2008 Financial Results
Date:2/14/2008

justment 574,966 106,623 391,115 62,937

COMPREHENSIVE INCOME $3,747,293 $2,028,476 $2,043,486 $1,049,254

STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED DECEMBER 31,

(UNAUDITED)

2007 2006

CASH FLOWS FROM OPERATING ACTIVITIES

Net Income $3,172,327 $1,921,853

Adjustments to reconcile net income to net

cash

provided by operating activities:

Depreciation and amortization 164,758 221,171

Bad debt expense -- 19,308

Changes in current assets and current

liabilities:

Accounts receivable

(6,899) (1,392,038)

Inventory 306,194 (400,339)

Advance payments to vendors (1,040,484) 462,864

Other receivables

(624,610) 22,354

Accounts payable and accrued

expenses (252,002) 355,753

VAT taxes payable

(16,051) 19,584

Income tax payable

(20,953) (683)

Payroll taxes payable

(1,707) (13,584)

Other payables

66,426 (174,200)

Total Adjustments (1,425,328) (879,810)

Net Cash Provided by Operating

Activities
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SOURCE Tianyin Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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