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Biostar Pharmaceuticals, Inc. Second Quarter Revenue Increased 46.4% to $19.4 Million
Date:8/17/2010

** $8.2 million $5.7 million +44.9% GAAP EPS (Diluted) $0.28 $0.24 +16.7% Adjusted Non-GAAP EPS $0.30 $0.24 +25.0% (Diluted)** **Excluding non-cash stock-based compensation charge of $0.4 million for the first six months of 2010. For more information about the non-GAAP financial measures contained in this press release, please see "About Non-GAAP Financial Measures" below.

Second Quarter 2010 Financial Results

Revenue for the second quarter of 2010 increased 46.4% to approximately $19.4 million compared to $13.2 million for the second quarter of 2009. Sales of Xin Aoxing Capsules, Biostar's flagship product, increased by 41.7% to $12.7 million with a gross margin of 85.0%, compared to $8.9 million in the second quarter of 2009. During the second quarter of 2010, sales of Xin Aoxing represented 65.4% of total revenues and benefited from $1.7 million in sales from the Beijing, Tianjing and Shanghai markets which were launched in the first quarter of 2010, in addition to $1.6 million from four new provincial markets including Jiangsu, Jiangxi, Chongqing and Hebei province. Another notable contributor from Biostar's portfolio was its Gan Wang Compound Paracetamol Capsules ("Gan Wang"), which grew 42.0% to $1.4 million in sales for the second quarter of 2010 and benefited from an unusually cold weather during the second quarter in Shaanxi province. In addition, sales of the Company's health supplement products were $1.8 million in the second quarter of 2010. The Company continued its expansion into rural communities in China with products now being sold at 7,000 locations. $4.0 million in revenues were generated through this sales channel during the second quarter, up 58.8% from the year ago period.

"We are pleased to report another quarter of strong revenue growth, which benefited from the 42% growth in sales of our flagship product. We are seeing dividends from the resources allocated to expand brand recognition and awareness for our Xin Aoxi
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SOURCE Biostar Pharmaceuticals, Inc.
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