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China Biologic Products Reports First Quarter 2011 Results

Wednesday, May 11, 2011 General News J E 4
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RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

FOR THE THREE MONTHS ENDED March, 2011 AND 2010

Three months Ended

March 31, 2011

Three months Ended

March 31, 2010

Net Income (Loss) Diluted EPS

Net Income

Diluted EPS

Net Income

Diluted EPS

Adjusted Net Income - Non GAAP

$

7,965,131

$

0.31

$

7,574,186

$

0.29

Non-cash employee compensation (1)

$

1,174,882

$

0.05

$

571,893

$

0.03

Income in fair value of derivative liabilities (2)

$

(508,037)

$

(0.04)

$

-

$

-

Interest of Convertible Notes  (3)

$

1,503,139

$

0.06

$

-

$

-

Adjusted Net Income for diluted net income per share

$

5,795,147

$

0.25

$

7,002,293

$

0.26

Interest on the Notes

$

-

$

0.00

$

172,121

$

0.01

Change in fair value of embedded conversion option in the Notes

$

-

$

0.00

$

(2,057,342)

$

(0.08)

Change in fair value of warrants

$

(513,828)

$

0.00

$

(1,776,235)

$

(0.07)

Net Income attributable to controlling interest

$

6,308,975

$

0.25

$

10,663,749

$

0.40

Weighted average number of Shares

25,680,648

26,471,425

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