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Weikang Bio-Technology Reports First Quarter 2010 Financial Results
Date:5/18/2010

HARBIN, China, May 18 /PRNewswire-Asia-FirstCall/ -- Weikang Bio-Technology Group Co., Inc. (OTC Bulletin Board: WKBT) ("Weikang" or the "Company"), a leading developer, manufacturer and marketer of Traditional Chinese Medicine (TCM), Western prescription pharmaceuticals and other health and nutritional products in the People's Republic of China, today announced its financial results for the first quarter of fiscal year 2010 ended on March 31, 2010.

    First Quarter Highlights
    -- Revenue increased 38.1% year-over-year to a record $14.0 million
    -- Gross profit was a record $8.3 million with gross margin of 59.6%
    -- Net income increased 18% year-over-year to a record $4.5 million
    -- Fully diluted earnings per share were $0.17
    -- Non-GAAP net income was $5.5 million for non-GAAP fully diluted
       shares of $0.20
    -- Raised $2.5 million in private placement

"We are pleased to have achieved a record quarter in terms of revenue and net income. Moreover, we believe the strong quarter demonstrates our solid competitive position with our portfolio of proprietary therapeutics and ability to consistently expand our market penetration," commented Mr. Yin Wang, Chairman & CEO of Weikang Bio-Technology Group Co., Inc. "Both Tianfang and Weikang had strong sales growth as a result of our increased distribution network and market coverage."

Revenue was a record $14.0 million for the first quarter of 2010, up 38.1% from revenue of $10.1 million in the first quarter of 2009. Revenue from Tianfang was $8.9 million, or 64% of total sales, up 42.6% from revenue of '/>"/>

SOURCE Weikang Bio-Technology Group Co., Inc.
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