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Benda Pharmaceutical Reports First Quarter 2008 Financial Results
Date:5/21/2008

Equity $70,219,556 $64,934,898

Benda Pharmaceutical Inc., Income Statement

THREE MONTHS ENDED MARCH 31

2008 2007

(Unaudited) (Unaudited)

Revenue $5,947,370 $3,029,035

Cost of goods sold (3,940,080) (1,970,047)

Gross profit 2,007,290 1,058,988

Selling expenses (436,371) (88,183)

General and administrative

expenses

Amortization of

intangible assets (51,575) (26,284)

Amortization of debt

issue costs (65,879) (8,743)

Depreciation (123,220) (76,576)

Bad debts (471,297) 70,986

Director remuneration (110,873) --

Penalty to investors (722,205) (120,000)

Other general and

administrative

expenses (1,097,869) (324,713)

Total general and

administrative

expenses (2,642,918) (485,330)

Gains / (losses) on disposals

of fixed assets -- (12,025)

Research and development

expenses (22,064) --

Total operating expenses (3,101,353) (585,538)

Operating income / (loss) (1,094,063) 473,450

Interest income / (expenses) (1,212,282) (17,585)

Other income (expenses) 301,693 937

Government subsidies /

grants -- --

Income / (loss) before

minority interest and

income taxes (2,004,652) 456,802

Income taxes (133,197) --

Minorit
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SOURCE Benda Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
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