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American Oriental Bioengineering Reports Fourth Quarter and Full Year 2008 Financial Results
Date:3/9/2009

74,566,818 75,386,436 76,504,035 69,870,775 DILUTED 86,915,928 75,386,436 82,254,185 71,364,244 AMERICAN ORIENTAL BIOENGINEERING, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, DECEMBER 31, 2008 2007 CURRENT ASSETS Cash and cash equivalents $70,636,510 $166,410,075 Accounts receivable, net of reserve of $226,330 and $302,270 at December 31, 2008 and 2007, respectively 36,982,167 16,494,619 Inventories, net of provision for slow moving inventories 13,042,123 12,264,536 Advances to suppliers and prepaid expenses 3,593,979 4,309,352 Notes receivable 708,076 2,259,616 Refundable deposit 6,396,996 -- Deferred tax assets 347,216 -- Other current assets 744,903 5,134,118 Total Current Assets 132,451,970 206,872,316 LONG-TERM ASSETS Property, plant and equipment, net 98,154,443 48,496,760 Land use rights, net 148,988,870 46,310,240 Deposit for long-term assets 6,347,174 -- Construction in progress 25,385,835 755,614 Deferred tax assets 1,313,832 1,498,481 Intangible assets, net 23,690,440 26,972,166 Goodwill 28,543,226 22,566,768 Investments in and advances to equity investments 54,963,064 2
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SOURCE American Oriental Bioengineering, Inc.
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