China Sky One Medical, Inc. Announces Record Third Quarter 20...( HARBIN China Nov. 10 /Xinhua-- Ch...),Health

HARBIN, China, Nov. 10 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), today announced record financial results for the third quarter ended September 30, 2008.

Third Quarter 2008 Highlights:

-- Total revenues increased 77.1% to $29.7 million

-- Gross profit increased 70.5% to $22.3 million; gross margin fell

slightly to 75.2%

-- Operating income increased 78.3% to $11.8 million; operating margin

improved to 39.5% from 39.3%

-- Net income increased 82.6% to $9.9 million, or $0.60 per diluted share

-- Completed acquisition of Peng Lai Jin Chuang Company

-- Passed first phase of examinations for Conformite Europeenne (CE)

certification

-- Developed 37 new drugs currently in clinical trials, including 12

administered by injection

-- Developed a propyl gallate injection for treatment of coronary heart

disease and related diseases; and a nasal spray for the treatment of

rheumatic disease

-- Signed a distribution agreement with Harbin Baolong Pharmaceutical

Company

-- Began trading on the NASDAQ Global Market under the symbol "CSKI"

"We continued to experience strong growth in product sales in the third quarter of 2008 due to robust organic growth and initial contributions of our recent acquisitions and we are very pleased with our record results," said Mr. Yan-Qing Liu, Chairman, CEO and President of China Sky One Medical, Inc. "Broken down by category, sales of weight loss products, which include our top-sel
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