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42,558,818$
76,755,753Commitments and contingenciesStockholders' equity:Common stock (par value of $0.0001, 100,000,000 shares authorized, 46,751,004 shares issued and 22,150,200 outstanding as of December 31, 2010 and as of March 31, 2010)$
4,675$
4,675Additional paid-in capital82,769,07482,769,074Retained earnings108,400,68665,441,994Treasury stock at cost (22,370,000 and 24,381,004 shares as of December 31, 2010 and March 31, 2010, respectively)(2,742,072) (2438) Accumulated other comprehensive income8,847,1934,939,830Capital and statutory reserves3,025,7943,025,794Total stockholders' equity$
200,305,350$
153,260,770Total liabilities and stockholders' equity$
242,864,168$
222,692,370CHINA-BIOTICS, INC. AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Amounts expressed in US Dollars)Three months ended
December 31,20102009Net sales$
32,384,645$
23,294,321Cost of sales(11,198,703)(6,780,161)Gross profit$
21,185,942$
16,514,160Operating expenses:Selling expenses$
(3,861,261)$
(4,140,738)General and administrative expenses(3,217,728)(2,260,344)Research and development costs$
(1,856,898)(770,195)Other income/(expenses), net(4,214)3,179Total operating expenses$
(8,940,101)$
(6,397,903)$
12,245,841$
10,100,000Other income and expenses:Changes in the fair value of embedded derivatives$2,847,000 $
2,668,000Exchange gain/(loss)544,773Interest income/(loss)102,38774,438Total other
income/(expenses)$
3,494,160$
2,742,438Income/(loss) before taxes$
15,740,001$
12,858,695Provision for income taxes(2,476,772)(2,379,613)Net income/(loss)$
13,263,229$
10,479,082Earnings/(loss) per share:Basic$
0.59$
0.48Diluted$
0.59$
0.38Sh
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