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Shengtai Pharmaceutical, Inc. Reports Financial Results for the Third Quarter and the First Nine Months of Fiscal Year 2010
Date:5/17/2010

WEIFANG, China, May 17 /PRNewswire-Asia-FirstCall/ -- Shengtai Pharmaceutical, Inc. (OTC Bulletin Board: SGTI) ("Shengtai" or "the Company"), a manufacturer and distributor in China of glucose and starch as pharmaceutical raw materials and other starch and glucose products, today reported its financial results for the third quarter and the first nine months of fiscal year 2010 ended March 31, 2010.

    Financial Summary of the Third Quarter 2010
    -- Revenues totaled $29.41 million
    -- Net income totaled $0.98 million
    -- Basic and diluted earnings per share of $0.05
    -- Cash and restricted cash position at $18.10 million on March 31, 2010

    Financial Summary of the First Nine Months 2010
    -- Revenues totaled $81.04 million
    -- Net income totaled $2.81 million
    -- Basic and diluted earnings per share of $0.15
    -- Operating cash flow of $7.35 million

"Our company continued to reap good sales revenue in the third quarter of fiscal year 2010," said Mr. Qingtai Liu, Shengtai's CEO. "The operations of the third quarter added another $0.05 earnings per share to that of the previous two quarters, and delivered $0.15 of the total earnings per share for the nine months ended March 31, 2010."

Financial Results of the Third Quarter Fiscal 2010

Net sales for the three months ended March 31, 2010 were $29,407,287, an increase of $13,105,765, or 80.40%, compared with the same period in 2009. The increase in net sales primarily resulted from the increase of the Company's sales volume and se
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SOURCE Shengtai Pharmaceutical, Inc.
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