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BMP Sunstone continues to expect full year revenue in 2008 of $110 to $120million. The Company also anticipates that non-GAAP net income for the fullyear 2008 will reach $5.0 to $6.0 million, an increase from prior expectationsof $4.0 to $5.0 million.
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David Gao, Chief Executive Officer of BMP Sunstone, stated "Today'sannouncement reflects improved profitability across the Company, as well ascontinued demand for our products and services as we close the year and enter2009. We remain optimistic about the growth in China's healthcare sector andwe intend to enhance our capabilities and realize additional opportunities inthe future."
Non-GAAP net income excludes stock based compensation, amortizationrelated to acquisitions and debt discount amortization and issuance costrelated to $23 million in debt issued in November 2007.
About BMP Sunstone Corporation
BMP Sunstone Corporation is a specialty pharmaceutical company that isbuilding a proprietary portfolio of branded pharmaceutical and healthcareproducts in China. Currently this portfolio includes eight products underexclusive multi-year licenses for China, primarily focused on women's healthand pediatrics. The Company also owns Sunstone Pharmaceutical Co. Ltd., whichmanufactures leading pediatric and women's health products, including two ofChina's most recognized brands, "Hao Wawa" and "Confort," sold throughapproximately 50,000 pharmacies in China. The Company also providespharmaceutical distribution services through its subsidiaries in Beijing andShanghai, and through its affiliate, Guangzhou Pharmaceuticals Corp. TheCompany has its main office in Beijing, with a US office in Plymouth Meeting,PA. For more information, please visit http://www.bmpsunstone.com .
Safe Harbor Statement
This news release contains forward-looking statements as defined by thePrivate Securities Litigation Reform Act of 1995. Forward-looking statementsinclude statements concerning plans, objectives, goals, strategies, futureevents or performance, and underlying assumptions and other statements thatare other than statements of historical facts, including but not limited tostatements about the Company's revenue and non-GAAP net income guidance for2008, the growth in China's healthcare sector, and the Company's intent andability to enhance its capabilities and realized additional opportunities.These statements are subject to uncertainties and risks including, but notlimited to, operating performance, general financial, economic, and politicalconditions affecting the biotechnology and pharmaceutical industries and theChinese pharmaceutical market, the ability to timely manufacture anddistribute the Company's products, the results of Alliance BMP Limitedoperations are less than expected and other risks contained in reports filedby the Company with the Securities and Exchange Commission. In addition, theCompany disclaims any obligation to update any forward- looking statements toreflect events or circumstances after the date hereof.For more information, please contact: BMP Sunstone Corporation Fred M. Powell Chief Financial Officer Tel: +1-610-940-1675 Integrated Corporate Relations, Inc. Ashley M. Ammon and Christine Duan Tel: +1-203-682-8200 (Investor Relations)
SOURCE BMP Sunstone Corporation
