Tianyin Pharmaceutical Co., Inc. Announces Third Quarter 2009 Financi... ( CHENGDU China May 15 Asia-FirstCall...)

Tianyin Pharmaceutical Co., Inc. Announces Third Quarter 2009 Financial Results

Date:5/15/2009

    CHENGDU, China, May 15 /PRNewswire-Asia-FirstCall/ --

    - Third Quarter 2009 Revenue Increased 7.4% to $9.9 Million while Net
      Income Increased 48.8% to $1.9 Million with EPS of $0.10
    - Revenue for the First Nine Months Increased 22.4 % to $29.6 Million, Net
      Income Increased 29.2% to $5.7 Million with EPS of $0.23
    - Cash and Equivalents of $10.7 Million on March 31, 2009
    - Cash Flow from Operations Increased 150.6% to $4.4 million for the First
      Nine Months of Fiscal 2009
    - Received Ten New Approvals from the SFDA during the First 9 Months of
      Fiscal 2009
    - New Production Facility to Commence Operations this Summer Increasing
      Capacity for Solid Dose Drugs by 300%

Tianyin Pharmaceutical Co., Inc., (NYSE Alternext: TPI), 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, 2009.

Revenue for the third quarter of 2009 increased 7.4% to approximately $9.9 million compared to $9.2 million for the third quarter of 2008. The slowdown in year-over-year growth was due to capacity production constraints and longer lead times into the distribution channels as new drugs were commercialized.

Cost of goods sold for the three months ended March 31, 2009 was approximately $5.1 million or 51.1% of revenue as compared to $5.1 million or 55.4% of revenue for the three months ended March 31, 2008, yielding a gross profit of $4.9 million and gross margins of 48.9%, compared to $4.1 million in gross profit and a margins of 44.6% during the third quarter of fiscal 2008. Thus, gross profits grew by 17.8% on a year-over-year basis as a result of higher sales, while margins improved through the optimization of product portfolio and enhanced cost controls implemented during the manufacturing process.

Operating expenses for the th
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