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Tiens Biotech Group (USA) Reports Fourth Quarter and Twelve-Month Results
Date:3/28/2008

ments. During 2007, the Company phased out production of its personal care line of products, which had not been a material part of its business, to focus on its wellness products and dietary supplements which offer greater future opportunities.

Other Highlights

Cost of sales for the fourth quarter of 2007 was $4.5 million, compared to $4.4 million for the fourth quarter of 2006. Cost of sales for the twelve months ended December 31, 2007 was $16.5 million, compared to $18.1 million for the same period in 2006. This decrease was primarily due to the corresponding decrease in sales revenue. Cost of sales decreased at a lesser rate than revenue because the cost of raw materials increased during 2007 while the Company's product prices remained unchanged.

Gross profit for the fourth quarter of 2007 was $8.8 million compared to $12.2 million for the fourth quarter of 2006. The gross profit margin for the fourth quarter of 2007 was 65.9%, compared to 73.7% for the same period in 2006. Gross profit for the twelve months ended December 31, 2007 was $38.4 million, compared to $48.7 million for the same period in 2006. The gross profit margin for the twelve months ended December 31, 2007 was 69.9%, compared to 72.9% for the same period in 2006. These decreases reflect the reductions in revenue for the fourth quarter and twelve months of 2007 and gross profit margins being lower for semi-finished products than for the finished products that the Company was selling in 2006.

Selling, general and administrative expenses were $4.0 million for the fourth quarter of 2007, compared to $4.1 million for the fourth quarter of 2006. The selling and administrative expense as a percentage of sales was 29.7% for the fourth quarter of 2007 compared to 25.0% for the fourth quarter of 2006. Selling, general and administrative expenses were $14.3 million for the twelve months ended December 31, 2007, compared to $12.8 million for the comparable period in 2006.


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SOURCE Tiens Biotech Group (USA), Inc.
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