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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

ths Fiscal 2010

Net sales for the nine months ended March 31, 2010 were $81,043,203, an increase of $31,822,207, or 64.65%, compared with the same period in 2009. The increase in sales revenue resulted from the increase of the Company's sales volume and selling prices.

Net sales from exports for the nine months ended March 31, 2010 increased approximately 181% compared with the same period in 2009. Domestic sales of cornstarch and other products for the nine months ended March 31, 2010 increased approximately 138% compared with the same period last year.

The gross profit for the nine months ended March 31, 2010 was $13,447,859, an increase of $7,243,570, or 116.75%, compared with the same period in 2009, and the gross profit margin for the nine months ended March 31, 2010 was 16.6%, an increase from 12.6% for the same period in 2009.

Selling, general and administrative expenses were $7,358,396 for the nine months ended March 31, 2010 compared to $6,074,853 for the nine months ended March 31, 2009. The increase was due largely to the write-off of a payment of $837,684. After deducting the write-off, selling, general and administrative expenses for the nine months ended March 31, 2010 were $6,520,712, an increase of $445,859, or 7.3%, from the nine months ended March 31, 2009.


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SOURCE Shengtai Pharmaceutical, Inc.
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