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Tianyin Reports Record First Quarter Fiscal Year 2011 Financial Results
Date:11/10/2010

le="font-family:Arial;font-size:8pt;">19,735,790Diluted

29,945,191

27,516,458Consolidated Statements of Cash Flows(Unaudited)For the Three Months EndedSeptember 30,20102009Cash flows from operating activities:Net Income

$  3,669,691

$  2,186,722Adjustments to reconcile net income to net cash  provided by (used in) operating activities:Depreciation and amortization

314,116

197,037Share-based payments

1,269,170

512,209Loss on disposal of fixed assets

-

39,502Changes in current assets and current liabilities:Accounts receivable

(843,012)

(1,492,362)Inventory

(1,552,067)

126,979Other current assets

(93,032)

419,905Accounts payable and accrued expenses

(189,572)

183,242Accounts payable – construction related

(1,139,900)

-VAT taxes payable

(111,405)

16,025Income tax payable

40,316

19,054Other taxes payable

66,462

(433)Dividends payable

(18,138)

-Other current liabilities

133,153

33,582Total adjustments(2,123,909)54,740Net cash provided by operating activities1,545,7822,241,462Cash flows from investing activities:Additions to property and equipment

(1,922,700)

(525,965)Additions to intangible assets – drug

-

(1,891,269)Loan receivable

-

(293,220)Net cash used in investing activities(1,922,700)(2,710,454)Cash flows from financing activities:Additional paid-in capital

-

2,534,581Contribution from minority shareholders

-

439,830Dividends paid

(54,857)

(499,331)Net cash provided by (used in) financing activities(54,857)2,475,080Effect of foreign currency translation on cash311,912(5,435)Net i
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SOURCE Tianyin Pharmaceutical Co., Inc.
Copyright©2010 PR Newswire.
All rights reserved

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