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China Sky One Medical, Inc. Announces Record First Quarter 2009 Results
Date:5/14/2009

HARBIN, China, May 14 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company in the People's Republic of China ("PRC"), today announced record financial results for the first quarter of 2009.

    First Quarter 2009 Highlights
    -- Total revenues doubled year-over-year to $24.8 million
    -- Gross profit increased 96.7% year-over-year to $18.8 million
    -- Operating income increased 86.1% to $9.1 million from $4.9 million a
       year ago
    -- Net income increased 87.4% year-over-year to $7.2 million, or $0.43 per
       diluted share
    -- Received SFDA approval to manufacture Calcium Folinate injection and
       Policresulen vaginal suppositories
    -- Received SFDA approval to enter into clinical trials for two new
       traditional Chinese medicines, Paeonol gel and Mei Lu gel
    -- Expanded the sale of its best-selling Sumei Slim Patch into South Korea
       and Sudan
    -- Signed an exclusive distribution agreement with Shaanxi Buchang Group
       for Naftopidil dispersible tablets with an expected sales target of
       $14.6 million over five years

"We are pleased to report another quarter of excellent results to start off 2009. We achieved record financial performance in the first quarter with strong increases in revenue and net income as we executed our business strategy and further established ourselves as a leading pharmaceutical company in China," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical, Inc. "We continued to refine and enhance our distribution channels during the quarter and signed several distribution agreements for our products and expanded sales of our top-selling Sumei Slim Patch into South Korea and Sudan."

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SOURCE China Sky One Medical, Inc.
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