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Tianyin Pharmaceutical Co., Inc. Announces Third Quarter 2008 Financial Results
Date:5/15/2008

Third Quarter Revenue Increased 70.9% to $9.2 Million

CHENGDU, China, May 15 /Xinhua-PRNewswire-FirstCall/ -- Tianyin Pharmaceutical Co., Inc., (OTC Bulletin Board: TYNP), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, today announced fiscal results for its third quarter ended March 31, 2008.

Revenue for the third quarter of 2008 increased 70.9% to approximately $9.2 million compared to approximately $5.4 million for the third quarter of 2007. The significant increase in revenues was due to strong demand of the Company's current product portfolio supported by enhanced marketing efforts and expansion of current sales channels.

Cost of goods sold for the third quarter was approximately $5.1 million, yielding a gross profit of $4.1 million and gross margins of 44.6%, compared to $2 million in gross profit and a gross margin of 37.5% during the third quarter of 2007. Thus, gross profits grew by 103.2% on a year-over-year basis. The increase in gross profit and improved margins were primarily attributable to the growth in revenue and our focus on high margin products in the Company's portfolio such as Ginkgo Mihuan Oral Liquid and Arpu Shuangxin Oral Liquid.

Operating expenses for the three months ended March 31, 2008 were $2.3 million, up 560.7% compared to the same period in 2007. Selling, general and administration expenses for the period increased to approximately $2.2 million from $0.33 million in the third quarter of 2007, which included a one-time expense of $0.4 million in public market listing expenses, in addition to increased investment in overall marketing including increased costs in advertisement, promotion and sales force related expenses. Research and development expenses were $89,372 in the three months ended March 31, 2008, versus $15,749.

Operating income for the third quarter of 2008 totaled approximately $1.9 million, a 10% increase from the $1.7
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SOURCE Tianyin Pharmaceutical Co., Inc.
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