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

N FOR INCOME

TAXES 2,211,265 970,025 6,808,625 3,567,857

NET INCOME 4,474,833 1,876,573 12,863,288 7,405,372

OTHER COMPREHENSIVE

INCOME:

Unrealized (loss)

gain on marketable

securities (270,351) -- 1,347,852

Foreign currency

translation

adjustment 1,960,948 368,537 3,428,779 673,047

COMPREHENSIVE INCOME $6,165,430 $2,245,110 $17,639,919 $8,078,419

WEIGITED AVERAGE

NUMBER OF SHARES:

Basic 389,605,134 84,545,655 260,297,377 84,131,121

Diluted 393,292,698 90,950,796 263,271,624 89,658,922

EARNINGS PER SHARE:

Basic $0.01 $0.02 $0.05 $0.09

Diluted $0.01 $0.02 $0.05 $0.08

GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

AS OF MARCH 31, 2008

A S S E T S

(Unaudited)

CURRENT ASSETS:

Cash $21,574,044

Restricted cash 3,488,604

Marketable equity securities 2,112,500

Accounts receivable, net of

allowance for doubtful accounts of

$62,625 20,589,289

Accounts receivable - related

parties 2,019,278

Inventories 5,542,846

Other receivables 284,908

Other receivables - related parties
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SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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