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

>ies and Stockholders' Equity$

191,630$

172,224China Sky One Medical, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited, $ in thousands)Six Months Ended June 30,20112010Cash flows from operating activitiesNet Income$

12,225$

24,830Adjustments to reconcile net cash provided by (used in) operating activities:Depreciation and amortization3,0211,919Change in fair value of derivative liability(1,591)(7,013)Net change in assets and liabilities:Accounts receivable(1,335)(2,719)Inventories(4,196)(3,124)Prepaid expenses and other current assets150Accounts payable and accrued expenses4,0073,487Taxes payable8821,838Net cash provided by operating activities13,01419,268Cash flows from investing activitiesLand and construction deposits(6,281)(7,316)Purchase of property and equipment(96)(407)Purchase of land use rights(1,986)-Purchase of intangible assets(4,389)-Purchase of construction in process(20)-Net cash used in investing activities(12,772)(7,723)Cash flows from financing activitiesProceeds from warrants conversion-94Net cash provided by financing activities-94Effect of exchange rate changes on cash and cash equivalents929261Net increase in cash and cash equivalents1,17111,900Cash and cash equivalents at beginning of period43,12452,756Cash and cash equivalents at end of period$

44,295$

64,656Supplemental disclosure of cash flow informationInterest paid$

-$

-Income taxes paid$

3,840$

4,942
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SOURCE China Sky One Medical, Inc.
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