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Genesis Pharmaceuticals Reports Results for the Third Quarter of Fiscal Year 2008
Date:5/15/2008

in the Company's filings, available via the United States Securities and Exchange Commission.

GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME

FOR THE NINE MONTHS ENDED MARCH 31, 2008 AND 2007

(UNAUDITED)

Three months ended Nine months ended

March 31 March 31

2008 2007 2008 2007

REVENUES:

Sales $26,231,191 $18,472,649 $66,648,051 $52,876,082

Sales - related party 1,869,092 455,580 4,611,849 2,963,871

TOTAL REVENUE 28,100,283 18,928,229 71,259,900 55,839,953

COST OF SALES 6,337,822 5,388,811 17,744,379 15,724,047

GROSS PROFIT 21,762,461 13,539,418 53,515,521 40,115,906

RESEARCH AND

DEVELOPMENT EXPENSE 967,930 953,560 2,170,240 10,441,060

SELLING, GENERAL AND

ADMINISTRATIVE

EXPENSES 12,136,164 9,658,803 29,269,330 18,491,304

INCOME FROM OPERATIONS 8,658,367 2,927,055 22,075,951 11,183,542

OTHER (INCOME)

EXPENSE, NET

Other expenese, net 1,217,477 -- 1,136,534 --

Non-operating

(income) expense (529) 11,224 (232) 5,642

Interest expense, net 526,509 69,233 925,993 204,671

Loss from

discontinued

business 228,812 -- 341,743 --

OTHER EXPENSE,

NET 1,972,269 80,457 2,404,038 210,313

INCOME BEFORE

PROVISION FOR INCOME

TAXES 6,686,098 2,846,598 19,671,913 10,973,229

PROVISIO
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SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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