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Shengtai Pharmaceutical, Inc. Reports Record 2007 Annual Results
Date:9/28/2007

OTHER (EXPENSE) INCOME:

Earnings (loss) on equity investment 131,420 41,635

Other income 1,769,631 181,874

Other expense (225,898) (214,641)

Interest expense and other charges (1,270,418) (555,572)

Interest income 119,353 128,306

Other income (expense), net 524,088 (418,398)

INCOME BEFORE PROVISION FOR INCOME TAXES 8,027,962 4,210,911

PROVISION FOR INCOME TAXES 878,836 --

NET INCOME 7,149,126 4,210,911

OTHER COMPREHENSIVE INCOME:

Foreign currency translation

adjustments 641,596 185,402

COMPREHENSIVE INCOME $ 7,790,722 $ 4,396,313

Earning per share - basic $ 0.64 $ 0.42

Earning per share - diluted $ 0.62 $ 0.42

Weighted average number of shares

outstanding - basic 11,252,063 10,125,351

Weighted average number of shares

outstanding - diluted 11,477,896 10,125,351

SHENGTAI PHARMACEUTICAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED JUNE 30, 2007 AND 2006

2007 2006

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income $7,149,126 $4,210,911

Adjustments to reconcile net income to cash

provided by operating activities:

Depreciation 2,239,157 1,478,734

Amortization 42,644
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SOURCE Shengtai Pharmaceutical, Inc.
Copyright©2007 PR Newswire.
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