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China Sky One Medical Announces Second Quarter 2011 Results
Date:8/9/2011

mail: crocker.coulson@ccgir.comWebsite: www.ccgirasia.comMs. Mabel Zhang, Vice PresidentTel: +1-310-954-1353Email: mabel.zhang@ccgir.com-- Financial Tables Follow --China Sky One Medical, Inc. and SubsidiariesReconciliation of Non-GAAP Net Income and Diluted EPS(Unaudited, $ in thousands except share and per share data)For the Three Months Ended June 30,For the Six Months Ended June30,2011201020112010Net
Income

Diluted EPSNet
Income

Diluted EPSNet
Income

Diluted EPSNet
Income

Diluted EPSNet Income$6,102

$0.36$12,242

$0.73$12,225

$0.72$24,830

$1.47Loss (gain) related to change in fair value of derivative warrant liabilities($214)

($0.01)($2,087)

($0. 13)($1,591)

($0.09)($7,013)

($0.42)$5,888

$0.35$10,155

$0.60$10,634

$0.63$17,817

$1.05Diluted Weighted Average Shares Outstanding16,940,53916,812,81016,940,53916,894,775China Sky One Medical, Inc. and SubsidiariesCondensed Consolidated Statements of Operations and Comprehensive Income(Unaudited, $ in thousands except share and per share data)Three Months Ended June 30,Six Months Ended June 30,2011201020112010Revenues$

37,671$

40,760$

66,036$

69,663Cost of Goods Sold12,75311,21621,81718,491Gross Profit24,91829,54444,21951,172Operating ExpensesDepreciation and amortization1,3968272,7301,668Research and development5,9235,91010,0359,674Selling8,5307,98314,83013,894General and administrative8001,1231,7202,113Total operating expenses16,64915,84329,31527,349Income from Operations8,26913,70114,90423,823Other IncomeInterest income55308759Change in fair value of derivative warrant liability2142,0871,5917,013Total other income2692,1171,6787,07
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SOURCE China Sky One Medical, Inc.
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