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China Sky One Medical, Inc. Announces Record Third Quarter 2009 Results
Date:11/17/2009

HARBIN, China, Nov. 17 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company in the People's Republic of China ("PRC"), today announced record financial results for the third quarter of 2009.

    Third Quarter 2009 Highlights

    -- Total revenues increased 45.5% year-over-year to $43.2 million
    -- Gross profit increased 44.8% year-over-year to $32.3 million
    -- Operating income increased 27.8% to $16.1 million
    -- Net income increased 25.3% year-over-year to $12.5 million, or $0.74
       per diluted share
    -- Obtained renewal of GMP certificate for Peng Lai Jin Chuang
       Pharmaceutical Company subsidiary from the State Food and Drug
       Administration ("SFDA") valid through June 2014
    -- Appointed new independent director who serves as a member in the audit
       committee
    -- Submitted application to the SFDA to perform clinical trials for two
       new eye drugs
    -- Expanded international sales by exporting Pain Relief patches to Canada
    -- Held first Annual Meeting of Shareholders on September 24th 2009 in
       Harbin

"We are delighted to report another quarter of excellent results. We achieved record financial performance in the third quarter driven by strong product sales and the strength of our growing sales and distribution network. Sales of ointment and spray products increased as we promoted our skin-care products under the 'Yu Fu' brand. Sales of diversified products from our business acquisitions in 2008 also made a strong contribution to our third quarter results as we continued to execute our business strategy," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical.

Third Quarter 2009 Results

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SOURCE China Sky One Medical, Inc.
Copyright©2009 PR Newswire.
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