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Shengtai Pharmaceutical Reports Financial Results for Full Year Fiscal 2010
Date:9/29/2010

r the twelve months ended June 30, 2010.

Full Year Fiscal 2010 Results

Sales revenue for the fiscal year ended June 30, 2010 was $115,953,948, an increase of $42,632,086, or 58% compared with the corresponding 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 year ended June 30, 2010 increased approximately 131% compared with the same period in 2009. The increase is attributable to the recovery of the global economy. Domestic sales for cornstarch and other products for the year ended June 30, 2010 increased approximately 55% compared with the same period last year. The increase in domestic sales was attributable to the higher demand for the Company's products and increase in unit sales prices.

Costs of goods sold for the year ended June 30, 2010 was $98,276,190, an increase of $32,476,704, or 49% compared with the corresponding period in 2009. The increase in cost of sales was lower than the increase in net sales. As a result, the gross profit for the year ended June 30, 2010 was $17,677,759, an increase of $10,155,383, or 135%, compared with the same period in 2009, and the gross profit margin for the year ended June 30, 2010 was 15.2%, an increase from 5.0% for the same period in 2009.

Net profit for fiscal 2010 was $3,198,981 or 0.17 per share as compared to a net loss of $2,663,888 or $0.14 per share for fiscal 2009.

Net cash from operating activities for fiscal year 2010 was $9,578,970 compared to $1,287,385 from in operating activities for fiscal year 2009, an increase of $8,291,585.

Net cash used in investing activities for fiscal 2010 was $16,576,493 compared to $1,432,818 used in investing activities for fiscal year 2009. The investing activities helped the company increase its production capacity via purchase of equipments and optimization in production process.

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SOURCE Shengtai Pharmaceutical, Inc.
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