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Tianyin Pharmaceutical Co., Inc. Reports Record Fiscal 2009 Financials With $7.9 Million in Net Income
Date:9/24/2009

ns and will be produced in the new facility to drive incremental growth. The company has 17 different drugs currently moving through the approval process. -- Tianyin had four products included in China's Essential Drug List (EDL) released by the Chinese government on August 18, 2009. Azithromycin Dispersible Tablets, Simvastatin Tablets, Hugan Tablets and Xiao Yan Li Dan Capsules and Tablets are all generic. The inclusion will significantly increase revenues generated by these products while the gross margin will be lower due to pricing control. -- Tianyin declared a quarterly cash dividend of $0.025 with the second dividend being paid in September to common stock shareholders of record as of July 31, 2009. In addition, the Company announced and executed a buyback program during fiscal 2009.

Fiscal 2010 Guidance

For fiscal year 2010 which ends June 30, 2010, Tianyin forecasts that revenues will exceed $59 million with net income at least $10.5 million, representing approximately 37.5% and 32.9% growth compared to fiscal 2009. Management anticipates that approximately $7 million, or 12% of total revenues will emanate from products which were launched during fiscal 2009, while sales of the Company's flagship product, Ginkgo Mihuan, will grow by approximately 80% to $20 million for the year. Net income forecasted does not include non- cash expenses associated with stock compensation plans or future interest expense. This guidance does not include any contribution from potential future acquisitions. Manage will continue to evaluate and update guidance if and when its appropriate.

Conference Call

The Company will host a conference call to discuss the 2009 annual financial results on Thursday, September 24, 2009 at 10:30 a.m. EDT. Interested participants should call 877-941-2068 within the United States,
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SOURCE Tianyin Pharmaceutical Co., Inc.
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