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

FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009 (Unaudited) 2010 2009 CASH FLOWS FROM OPERATING ACTIVITIES: Net income attributable to controlling interest $10,605,640 $4,258,318 Net income attributable to noncontrolling interest 4,085,212 3,000,082 Consolidated net income 14,690,852 7,258,400 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 793,657 759,072 Amortization 869,251 838,459 Loss on disposal of equipment 3,019 (276) Recovery of bad debt previously reserved -- -- Allowance for bad debt - accounts receivables 23,329 26,581 Allowance for bad debt - other receivables and prepayments -- -- Allowance for obsolete inventories 198,559 -- Deferred tax assets 214,583 -- Stock based compensation 571,893 27,373 Change in fair value of derivative liabilities (3,833,577) 393,023 Amortization of deferred note issuance cost 86,790 -- Amortization of discount on convertible notes 99,318 -- Equity in income of unconsolidated affiliate (188,541) (40,246) Change in operating assets and liabilities: Notes receivable
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SOURCE China Biologic Products, Inc.
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