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China Biologic Products Announces First Quarter 2010 Results
Date:5/17/2010

accounting rule effective January 1, 2009 requires changes in the fair value of derivative liabilities to be recognized in earnings each quarter. (3) Net Income attributable to controlling interest for calculating diluted earnings per share includes interest add back on Convertible Notes. CHINA BIOLOGIC PRODUCTS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND MARCH 31, 2009 (Unaudited) 2010 2009 REVENUES: Revenues $26,861,522 $20,905,869 Revenues - related party 237,031 242,729 Total revenues 27,098,553 21,148,598 COST OF REVENUES: Cost of revenues 6,798,854 6,214,930 GROSS PROFIT 20,299,699 14,933,668 OPERATING EXPENSES: Selling expenses 942,908 579,496 General and administrative expenses 4,962,252 3,822,907 Research and development expenses 1,168,655 467,727 Total operating expenses 7,073,815 4,870,130 INCOME FROM OPERATIONS 13,225,884 10,063,538 OTHER EXPENSE (INCOME): Equity in income of unconsolidated affiliate (188,541) (40,247) Change in fair value of derivative liabilities (3,833,577) 393,023 Interest expense, net 181,053 370,853 Other income - related party (914,289) 0 Other expense, net 94,320 51
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SOURCE China Biologic Products, Inc.
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