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BMP Sunstone Reports First Quarter 2009 Financial Results
Date:5/18/2009

cial tables provided in this news release for a reconciliation of GAAP results to non-GAAP results for the three-month periods ended March 31, 2009 and 2008.

David Gao, Chief Executive Officer of BMP Sunstone, stated, "We are very pleased with our financial performance in the first quarter of 2009. Our results reflect continued revenue growth, operating improvements and cost efficiencies."

First Quarter 2009 Financial Results

Revenue in the first quarter of 2009 increased to a record $39.3 million from $18.1 million in the first quarter of 2008, reflecting increased demand for the Company's manufactured and licensed products, including $24.5 million of revenue from Sunstone, which was acquired in February of 2008. Revenue from distribution increased 80% to $13.4 million in the first quarter of 2009 from $7.4 million in the prior year period, reflecting revenue from Rongheng, which was acquired in July 2008, and sales growth of Wanwei's major products. Revenue from licensed products increased 13% to $1.4 million from $1.2 million in the prior year period, reflecting sales and marketing efforts of Anpo, Propess, Ferriprox and Galake compared to the prior year.

Gross profit in the first quarter of 2009 increased to a record $20.7 million from $7.7 million in the first quarter of 2008. Gross margin was also a record 52.6%, compared to 42.7% in the prior year period. Gross margin performance reflects increased sales of higher margin products and services from Sunstone and BMP China.

Operating income was a record $3.2 million in the first quarter of 2009, compared to an operating loss of $1.4 million in the first quarter of 2008, reflecting continued cost control and cost synergies. General and administrative expenses as a percentage of revenue were approximately 10.0%, compared to 17.4% in the prior year period.

Non-GAAP net income was $3.0 million, or $0.07 per di
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SOURCE BMP Sunstone Corporation
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