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Tiens Biotech Group (USA) Reports 2010 Results
Date:3/31/2011

RIBUTABLETO THE NONCONTROLLING INTEREST664,854993,504COMPREHENSIVE INCOME

$

10,631,972

$

19,245,909EARNINGS PER SHARE, BASIC AND DILUTED

$

0.07

$

0.33WEIGHTED AVERAGE NUMBER OF SHARES, BASIC AND DILUTED71,333,58671,333,586The accompanying notes are an integral part of this statement.TIENS BIOTECH GROUP (USA), INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETSAS OF DECEMBER 31, 2010 AND DECEMBER 31, 2009December 31,December 31,20102009A S S E T SCURRENT ASSETS:Cash

$

10,155,522

$

1,848,328Accounts receivable, trade - related parties, net of allowance for doubtful accounts of $3,869,617 and $1,419,178 as of December 31, 2010 and December 31, 2009 , respectively10,012,86115,379,312Inventories5,703,3495,328,052Other receivables1,045,952995,657Other receivables - related parties17,376,52244,561,626Employee advances170,842115,673Prepaid expenses, net415,208658,193Prepaid taxes3,646,140407,534Total current assets48,526,39669,294,375PROPERTY, PLANT AND EQUIPMENT, net72,037,54210,124,483OTHER ASSETS:Construction in progress128,715,283125,572,621Construction deposits12,490,8551,405,997Intangible assets, net12,987,00012,864,295Other assets10,721,04011,847,937Total other assets164,914,178151,690,850Total assets

$

285,478,116

$

231,109,708L I A B I L I T I E S
A N D
S H A R E H O L D E R S'   E Q U I T YCURRENT LIABILITIES:Accounts payable

$

14,120,791

$

5,012,157Advances from customers - related parties8,688,8774,426,751Wages and benefits payable1,613,7821,484,852Short-term debt3,024,800-Income taxes payable490,782-Contractor deposits209,376183,395Contractor payables28,134,71118,513,216Other payables 1,113,4161,151,551Other payables - related parties1,417,5163,326,110Total current liabilities58,814,05134,098,032NON-CURRENT LIABILITIESLong term debt18,451,280-Deferred income11,473,85311,236,501Total non current liabilities29,925,133
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SOURCE Tiens Biotech Group (USA), Inc.
Copyright©2010 PR Newswire.
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