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Tianyin Pharmaceutical co., Inc. Announces Record First Quarter 2010 Financial Results
Date:11/13/2009

valents and restricted cash totaled $14.4 million on September 30, 2009 compared to $12.4 million on June 30, 2009. The Company had a current ratio of 5.8 to 1 and total stockholders' equity of 46.2 million, which includes noncontrolling interest of $0.4 million, with total assets of $50.8 million versus total liabilities of $4.6 million on September 30, 2009. For the first three months of fiscal 2010, the Company generated $2.2 million in cash from operations versus $0.5 million for the same period in fiscal 2009.

Business Development & Outlook

On September 28, 2009, Tianyin appointed Mr. Tao Yang to the position of Chief Operating Officer. Mr. Yang has more than 18 years experience in the sales and marketing industry. He was appointed in November 2008 as Chief Advisor for Sales and Marketing and Special Advisor to Dr. Jiang, the CEO of the Company. Since then, Mr. Yang has helped implement a strategy to boost sales of leading products and further improve the efficiency of Tianyin's sales and marketing team.

On October 29, 2009, Tianyin announced it has formed a joint venture with Sichuan Mingxin Pharmaceutical Co., Ltd ("Mingxin") named Sichuan Jiangchuan Pharmaceutical Co., Ltd. ("Jiangchuan"). Tianyin owns 77% of Jiangchuan and will utilize this as the foundation for a broader, longer-term strategy to build a significant presence in the rapidly growing Chinese macrolide antibiotics market, while diversifying its revenue base of western pharmaceuticals.

On October 29, 2009 management increased fiscal 2010 guidance for the year which ends June 30, 2010 and expects to report revenues of more than $63.6 million and net income of at least $11.3 million, representing 48.3% and 43.0% year-over-year growth respectively.

"The Chinese stimulus plan and favorable policies for the health care industry are now starting to manifest themselves throughout the pharmaceutical industry by driving
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SOURCE Tianyin Pharmaceutical Co., Inc.
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