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Yongye International Announces First Quarter 2010 Results
Date:5/12/2010

YONGYE INTERNATIONAL, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Three Months Ended March 31, 2010 March 31, 2009 CASH FLOWS FROM OPERATING ACTIVITIES Net income $4,628,742 $3,325,306 Adjustments to reconcile net income to net cash provided by / (used in) operating activities: Depreciation and amortization 357,170 107,236 Reversal of bad debt provision -- (73,701) Decrease in fair value of derivative liabilities (12,534) (208,011) Changes in operating assets and liabilities: Accounts receivable (2,611,556) (3,302,662) Inventories (4,134,389) (1,466,830) Prepayments 132,734 (18,828) Due from a related party -- (72,763) Prepaid expenses (230,217) 97,734 Other receivables 60,371 424,992 Other assets (2,563,580) -- Accounts payable- related party -- 43,366 Accounts payable- third parties 3,688,858 -- Income tax payable 818,179 140,799 Advance from customers 2,149 (1,789,453) Accrued expenses 415,120 1,051,410 Other payables (38,885) 70,298 Net Cash Provided by / (Used in) Operating Activities 512,162 (1,671,107) CASH FLOWS FROM INVESTING
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SOURCE Yongye International, Inc.
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