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Tiens Biotech Group (USA) Reports Third Quarter and Nine-Month Results
Date:11/15/2010

n October, the Company relocated its corporate headquarters to its 250-acre Tiens International Health Industrial Park research and development, manufacturing and logistic facilities approximately four miles from its previous location. The Life Resources facility will incorporate manufacturing, warehouses, work plants, a power center and dormitories. The center positions the Company well to increase manufacturing capacity to meet future growth opportunities.

Other Highlights

Cost of sales for the third quarter of 2010 was $4.1 million compared to $3.1 million for the same period in 2009. For the nine months ended September 30, 2010, cost of sales was $10.6 million compared to $15.0 million for the same period in 2009. The increase in cost of sales for the third quarter of 2010, as compared to the like quarter of 2009, is due to the sale of products with higher costs.

Gross profit for the third quarter of 2010 was $6.2 million, a decrease of 0.9% compared to $6.3 million for the same period in 2009. The gross profit margin for the third quarter of 2010 was 60.1%, compared to 66.7% for the same period in 2009. For the nine months ended September 30, 2010, gross profit was $19.3 million, a decrease of 41.8% compared to $33.2 million for the same period in 2010, and the gross profit margin was 64.5% compared to 68.9% for the same period in 2009.

The decrease in profit margin for the third quarter of 2010 reflects Company products with more than 65% profit margins being 27.4% of revenues as compared to 31.1% in the third quarter of 2009 and  the U.S. dollar depreciating approximately 2% between September 30, 2009 and September 30, 2010. The Company's international sales are quoted in U.S. dollars and collected in RMB, therefore, gross profit margin decreased by the same percentage as the depreciation of the U.S. dollar.

Selling, general and administrative expenses were $4.1 million for the third quarter of 2010, an increase of
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SOURCE Tiens Biotech Group (USA), Inc.
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