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)
-- 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
-- Signed a distribution agreement with Harbin Baolong Pharmaceutical
-- 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
|SOURCE China Sky One Medical, Inc.|
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