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China Medicine Announces Record Fourth Quarter and 2008 Results
Date:3/26/2009

19 85,622 15,423 INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 4,238,564 3,382,959 11,013,487 8,429,825 PROVISION FOR INCOME TAXES 753,304 630,371 2,006,137 1,649,114 INCOME BEFORE MINORITY INTEREST 3,485,260 2,752,588 9,007,350 6,780,711 MINORITY INTEREST 33,179 26,012 118,266 94,658 NET INCOME 3,518,439 2,778,600 9,125,616 6,875,369 OTHER COMPREHENSIVE INCOME Foreign currency translation adjustment 135,806 721,233 2,305,499 1,621,672 COMPREHENSIVE INCOME $3,654,245 3,499,833 $11,431,115 $8,497,041 EARNINGS PER SHARE Basic $0.23 $0.19 $0.60 $0.56 Diluted $0.23 $0.17 $0.60 $0.50 WEIGHTED AVERAGE SHARES OUTSTANDING Basic 15,226,742 14,668,310 15,173,113 12,346,208 Diluted 15,226,742 15,980,110 15,308,529 13,658,007 CHINA MEDICINE CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2008 AND 2007 ASSETS 2008 2007 CURRENT ASSETS Cash $2,791,814 $5,767,774 Notes receivable 600,911 -- Accounts receivable, trade, net of allowance for doubtful accounts of $96,609 and $55,640 as of December 31, 2008 and 2007, respectively 19,225,091 13,626,347 Inventories 4,725,322 3,948,460 Advances to suppliers 6,121,9
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SOURCE China Medicine Corporation
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