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China Medicine Announces First Quarter 2009 Results
Date:5/13/2009

10,098,390 7,061,039 COST OF GOOD SOLD 7,318,762 4,749,019 GROSS PROFIT 2,779,628 2,312,020 OPERATING EXPENSES: Research and development 184,880 88,392 Selling, general and administrative 827,184 812,508 Reverse acquisition -- -- Total operating expenses 1,012,064 900,900 INCOME FROM OPERATIONS 1,767,564 1,411,120 OTHER INCOME (EXPENSE): Other Income, Net 5,553 5,983 Change in Fair Value of Warrants (758,689) -- INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST 1,014,428 1,417,103 PROVISION FOR INCOME TAXES 545,486 268,767 NET INCOME BEFORE NONCONTROLLING INTEREST 468,942 1,148,336 Add: Net Income Attributable to Noncontrolling Interest 81,140 27,477 NET INCOME ATTRIBUTABLE TO CHINA MEDICINE CORPORATION 550,082 1,175,813 OTHER COMPREHENSIVE (LOSS) INCOME: Foreign Currency Translation Adjustment (58,708) 1,290,620 Comprehensive (loss) attributable to noncontrolling interest (1,133) 36,546 COMPREHENSIVE INCOME $490,241 $2,502,979 EARNINGS PER SHARE: Basic $0.04 $0.08 Diluted $0.04 $0.08 WEIGHTED AVERAGE SHARES OUTSTANDING: Basic
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SOURCE China Medicine Corporation
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