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Jiangbo Pharmaceuticals Reports Results for Third Quarter of Fiscal Year 2010
Date:5/17/2010

lated parties -- -- -- 54,500 Total cost of sales 6,974,455 6,853,810 17,901,903 19,759,520 GROSS PROFIT 18,596,934 18,872,027 50,233,482 66,475,753 RESEARCH AND DEVELOPMENT EXPENSE 1,093,440 1,098,675 3,299,400 3,295,125 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 3,799,136 4,477,356 13,400,155 31,111,752 INCOME FROM OPERATIONS 13,704,358 13,295,996 33,533,927 32,068,876 OTHER (INCOME) EXPENSE: Change in fair value of derivative liabilities (11,624,079) -- (13,490,071) -- Other income - related parties (80,652) (76,552) (241,956) (313,276) Non-operating (income) expense 5,790 (131,104) 220,061 1,062,488 Interest expense, net 6,643,163 1,241,843 15,562,981 4,143,968 Loss from discontinued operations 36,000 103,008 200,769 1,693,830 Total other income (expense), net (5,019,778) 1,137,195 2,251,784 6,587,010 INCOME BEFORE PROVISION FOR INCOME TAXES 18,724,136 12,158,801 31,282,143 25,481,866 PROVISION FOR INCOME TAXES 3,539,870 3,302,953 8,618,061 8,093,320 NET INCOME 15,184,266 8,855,848 22,664,082 17,388,546 OTHER COMPREHENSIVE INCOME: Unrealized holding gain (loss) 32,164 (200,025) 88,535 (2,147,642) Foreign currency translation adjustment 509 (201,173) 197,393 378,284 COMPREHENSIVE INCOME $ 15,184,775 $ 8,654,650 $22,950,010 $15,619,188 BASIC WEIGHTED AVERAGE NUMBER OF SHARES 11,419,991 10,277,762 10,965,346 9,9
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SOURCE Jiangbo Pharmaceuticals, Inc.
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