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China Sky One Medical Announces Fourth Quarter and Fiscal Year 2010 Results
Date:3/15/2011

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During 2010, the Company generated $32.6 million in net cash flow from operating activities. Capital expenditures were $44.6 million in 2010, including a $36.0 million payment to Heilongjiang Tang Wang He Forest Bureau for the right to cultivate and produce herbs and other ingredients for use in traditional Chinese medicine (TCM) and other health food products, on approximately 74,000 acres of forested land in the Xiao Xing'an Mountain region for the next 30 years, and a land deposit of approximately $7.3 million for the auction. The Company plans to build a new biopharmaceutical research center and manufacturing facilities on this land if it wins the bid. Management believes its current working capital and borrowing capabilities are sufficient to cover its operating and capital commitments for 2011.

Conference CallChina Sky One Medical will conduct a conference call at 9:00 a.m. Eastern Time (ET) on Tuesday, March 15, 2011, to discuss full year and fourth quarter 2010 financial results.

To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 866-395-5819. International callers should dial 706-643-6986. The Conference ID for this call is 49924375.

If you are unable to participate in the call at this time, a replay will be available for two weeks starting on Tuesday, March 15, 2011 at 10:00 a.m. ET. To access the replay, dial 800-642-1687, international callers dial 706-645-9291. The Conference Replay Passcode is 49924375.

Use of Non GAAP Financial MeasuresGAAP results for the three and twelve month periods ended December 31, 2010 and 2009 include non-cash items related to the change in fair value of the Company's derivative warrant liability and share-based compensation. To supplement the Company's consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP adjusted financial informatio
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SOURCE China Sky One Medical, Inc.
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