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Shengtai Pharmaceutical, Inc. Reports Strong Second Quarter Results of Fiscal Year 2008
Date:2/14/2008

UNAUDITED)

2007 2006

CASH FLOWS FROM OPERATING

ACTIVITIES:

Net income $ 5,382,096 $ 3,073,002

Adjustments to reconcile

net income to cash

provided by operating

activities:

Depreciation 1,187,166 802,766

Amortization 23,820 21,159

Allowance for bad debts (126,334) 718

Gain on equipment

disposal (90,098) --

Loss on disposal of

land use right 5,954 --

Earnings on equity

investment (149,757) (22,207)

Change in operating

assets and liabilities:

Accounts receivable (185,355) (1,042,970)

Notes receivable (772,571) (569,932)

Other receivables 1,186,223 (975)

Other receivables -

related party 2,531,257 (502,261)

Other receivables -

shareholder 1,254,248 --

Inventories 159,692 (393,469)

Prepayments (472,365) (139,392)

Prepayments - related

party -- (39,024)

Accounts payable (1,668,080) 896,568

Accounts payable -

related party (293,176) (412,070)

Accrued liabilities (150,906) 43,689

Other payable
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SOURCE Shengtai Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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