BMP Sunstone Reports First Quarter 2009 Financi...( PLYMOUTH MEETING Pa. May 18 Asia-...),Health

PLYMOUTH MEETING, Pa., May 18 /PRNewswire-Asia-FirstCall/ -- BMP Sunstone Corporation (Nasdaq: BJGP) ("BMP Sunstone" or the "Company"), today announced financial results for the first quarter ended March 31, 2009.

    Financial Highlights from the First Quarter Ended March 31, 2009

    -- First quarter revenues increased to $39.3 million from $18.1 million in
       the prior year period.
    -- Gross profit increased to $20.7 million from $7.7 million in the prior
       year period. Gross margin was 52.6% versus 42.7%.
    -- Operating income improved to $3.2 million from a loss of $1.4 million
       in the prior year period.
    -- Non-GAAP net income was $3.0 million, compared to a net loss of
       $106,000 in the first quarter of 2008.
    -- Non-GAAP EPS, as defined below, was $0.07 for the quarter, compared to
       net loss per share of ($0.00) in the prior year period.
    -- Adjusted EBITDA was $4.6 million in the first quarter of 2009, compared
       to $639,000 in the first quarter of 2008.
    -- First quarter 2009 financial results include a net non-cash loss of
       approximately $2.9 million, reflecting a loss on the early
       extinguishment of debt, partially offset by a gain on the embedded
       derivative value on convertible notes.

Non-GAAP net income and earnings per share exclude stock based compensation expense, amortization related to Sunstone and Wanwei acquisitions, amortization of debt discount and issuance cost, loss on early extinguishment of debt and gain on the embedded derivative value on convertible notes. Adjusted EBITDA is a non-GAAP measure which provides earnings before interest, taxes, depreciation and amortization and excludes loss on early extinguishment of debt and gain on the embedded derivative value on convertible notes. Please refer to the finan
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