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Lotus Pharmaceuticals, Inc. Reports Strong First Quarter 2010 Financial Results
Date:5/14/2010

BEIJING, May 14 /PRNewswire-Asia-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or "the Company"), a growing developer, manufacturer and seller of medicine and drugs in the People's Republic of China (the "PRC") today reported its financial results for the first quarter ended March 31, 2010.

    First Quarter 2010 Highlights and Recent Developments:
    -- Diluted EPS of $0.09, up 27% from first quarter 2009
    -- Net revenues of $14.9 million, up 26% from first quarter 2009
    -- Net income of $4.9 million, up 38% from first quarter 2009
    -- Gross margin of 58%, as compared with 56% from first quarter of 2009
    -- Net margin of 33%, as compared with 30% from first quarter of 2009
    -- Reduced our current liability under the outstanding Series A Preferred
       Stock from $2,477,433 on March 31, 2010 to $621,333 May 13, 2010 due to
       the conversion of preferred shares to common stocks
    -- Added five prescription drugs under the National Health Insurance
       Program to deliver through the wholesale channel nationwide, achieving
       the goal of increasing product for 2010
    -- Continued Sarbanes-Oxley compliance project, to be fully and timely
       compliant in 2010
    -- Commenced construction of the Beijing building complex which is
       scheduled for completion in 2010
    -- Received SFDA's approval for R-Bambuterol(R) Hydrochloride Tablets to
       commence clinical trials as a Class 1 New Drug for special/fast track
       review
    -- Approved extension of contract term from 10 years to 30 years between
       Lotus Pharmaceuticals, Inc.'s wholly-owned foreign enterprise and two
       operating entities in China

Revenues for the first quarter of 2010 increased 26% to $14
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SOURCE Lotus Pharmaceuticals, Inc.
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