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China Sky One Medical, Inc. Announces Record Third Quarter 2008 Results

1,919,013 $11,227,915

Foreign currency


adjustment 1,788,369 288,267 7,152,503 874,804

Comprehensive Income $11,731,804 $5,734,538 $29,071,516 $12,102,719 China Sky One Medical, Inc. and Subsidiaries Condensed Consolidated Balance Sheets


September 30, 2008 December 31, 2007


Current Assets

Cash and cash equivalents $ 50,948,530 $ 9,190,870

Accounts receivable 9,288,941 10,867,106

Other receivables -- 40,200

Inventories 1,803,429 371,672

Prepaid expenses 28,470 17,707

Total current assets 62,069,370 20,487,555

Property and equipment, net 17,752,876 6,861,432

Land Deposit 8,003,205 8,003,205

Intangible assets, net 7,181,577 1,933,014

$ 95,007,028 $ 37,285,206


Current Liabilities

Accounts payable and accrued

expenses $ 4,246,767 $ 2,845,308

Wages payable 640,019 381,482

Welfare payable 177,574 221,911

Taxes payable 4,042,230 1,567,188

Deferred revenues -- 24,504

Total current liabilities 9,106,590 5,040,393

Stockholders' Equity

Preferred stock ($0.001 par value,

5,000,000 shares authorized,

none is

SOURCE China Sky One Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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