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Jiangbo Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2010
Date:2/22/2010

ported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

                      -- Financial Statements Follow --



                JIANGBO PHARMACEUTICALS, INC. AND SUBSIDIARIES
         (FORMERLY KNOWN AS GENESIS PHARMACEUTICAL ENTERPRISES, INC.)
       CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
     FOR THE THREE MONTHS AND SIX MONTHS ENDED DECEMBER 31, 2009 AND 2008
                                 (UNAUDITED)

                           For the Three Months Ended For the Six Months Ended
                                  December 31,               December 31,
                               2009          2008         2009        2008
    REVENUES:
      Sales                $18,179,942   $32,944,809  $42,563,996 $60,265,493
      Sales - related
       parties                      --            --           --     243,909
         Total revenues     18,179,942    32,944,809   42,563,996  60,509,402

    COST OF SALES
      Cost of sales          4,667,049     7,138,166   10,927,448  12,851,210
      Cost of sales -
       related parties              --            --           --      54,493
          Total cost of
           sales             4,667,049     7,138,166   10,927,448  12,905,703

    GROSS PROFIT            13,512,893    25,806,643   31,636,548  47,603,6
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SOURCE Jiangbo Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
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