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Shengtai Pharmaceutical, Inc. Reports First Quarter Results of Fiscal Year 2008
Date:11/15/2007

adjustments 445,097 106,845

COMPREHENSIVE INCOME $ 2,697,608 $ 1,590,876

EARNINGS PER SHARE

Basic $ 0.12 $ 0.15

Diluted $ 0.11 $ 0.15

WEIGHTED AVERAGE NUMBER OF SHARES

Basic 18,875,000 10,125,000

Diluted 19,697,359 10,125,000

SHENGTAI PHARMACEUTICAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006

(UNAUDITED)

CASH FLOWS FROM OPERATING

ACTIVITIES: 2007 2006

Net income $ 2,252,511 $ 1,484,031

Adjustments to reconcile net

income to cash provided by

(used in) operating activities:

Depreciation 686,653 354,249

Amortization 11,809 10,502

Allowance for bad debts -- 136,128

Loss on disposal of land use

right 5,903 --

Earnings on equity investment (148,779) (4,524)

Change in operating assets and

liabilities:

Accounts receivable (516,885) (436,640)

Notes receivable (860,590) (375,932)

Other receivables 479,437 (129,626)

Other receivables - related party 1,510,151 --

Other receivables - shareholder (34,668) --

Invent
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SOURCE Shengtai Pharmaceutical, Inc.
Copyright©2007 PR Newswire.
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