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China RuiTai Reports Fiscal Year 2007 Financial Results
Date:4/16/2008

134,011 --

Bad debt expenses -- 88,176

Office expenses 364,906 195,843

Repair and maintenance 167,014 525,176

Travel and entertainment 206,675 148,569

Other general and administrative 249,486 78,917

TOTAL OPERATING EXPENSE 1,627,505 1,491,118

TOTAL EXPENSE 3,816,993 3,619,217

OPERATING INCOME (LOSS) 8,100,843 5,317,468

OTHER INCOME

Interest income 267,989 331,259

Interest expense (1,996,479) (1,159,076)

Government subsidy 556,627 --

Other income (expense) 106,855 (151,992)

TOTAL OTHER INCOME (1,065,008) (979,809)

INCOME TAX AND MINORITY INTEREST 7,035,835 4,337,659

PROVISION FOR TAXATION 2,110,750 1,301,297

INCOME BEFORE MINORITY INTEREST 4,925,085 3,036,362

MINORITY INTEREST (49,251) (30,364)

NET INCOME 4,875,834 3,005,998

OTHER COMPREHENSIVE INCOME (LOSS)

Effects of Foreign Currency

Conversion 490,336 104,608

COMPREHENSIVE INCOME (LOSS) $ 5,366,170 $ 3,110,606

BASIC AND FULLY DILUTED

EARNINGS PER SHARE $ 0.23 $ 0.14

WEIGHTED AVERAGE SHARES

OUTSTANDING 23,204,457 22,645,348

CHINA RUITAI INTERNATIONAL HOLDINGS CO., LTD. AND SUBSIDIARIES'/>"/>

SOURCE China RuiTai International Holdings Co., Ltd.
Copyright©2008 PR Newswire.
All rights reserved

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