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Weikang Bio-Technology Announces Fiscal 2010 Financial Results
Date:3/22/2011

able1,118(340)Unearned revenue505,207(212,677)Accrued expenses1,346,5108,559Taxes payable3,866,569979,150Net cash provided by operating activities34,193,72617,468,437CASH FLOWS FROM INVESTING ACTIVITIES:Construction in progress(669,001)-Acquisition of property & equipment(59,301)(3,563,305)Net cash used in investing activities(728,302)(3,563,305)CASH FLOWS FROM FINANCING ACTIVITIES:Changes in due from management-1,261,882Net proceeds from shares issued 4,323,913-Payment for purchase of Tianfang-(3,812,596)Changes in due from related party25,113-Net cash provided by (used in) financing activities4,349,026(2,550,714)EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS

1,169,3438,674INCREASE IN CASH & EQUIVALENTS38,983,79311,363,092CASH & EQUIVALENTS, BEGINNING OF YEAR11,380,01916,927CASH & EQUIVALENTS, END OF YEAR$
50,363,812$
,380,019Supplemental Cash flow data:   Income tax paid$
,163,057$
4,163,362   Interest paid$
-$
-WEIKANG BIO-TECHNOLOGY GROUP CO., INCRECONCILIATION OF NON-GAAP FINANCIAL MEASURESFOR THE FISCAL YEAR ENDED DECEMBER 31, 2010Adjusted Net IncomeFiscal Year Ended
December 31, 2010Net Income (Loss) and Diluted EPS

Net IncomeDiluted EPSAdjusted amount (non-GAAP)

$28,316,548

$0.95Stock-based compensation adjustment (1)

3,878,864

0.08GAAP amount per consolidated statement of operations

24,437,684

0.87(1) Stock-based compensation expense for shares issued to financial and investor relations consultants.
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SOURCE Weikang Bio-Technology Group Co., Inc.
Copyright©2010 PR Newswire.
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