Advertisement
China Sky One Medical raised its full-year 2008 revenue guidance to $88-$90 million, up from its prior guidance of $81-$83 million, previouslyannounced on August 12, 2008. In addition, the Company now estimates thatfull-year 2008 net income will be in the range of $27-$28 million, up from itsprevious estimate of $25.9-$26.6 million. China Sky One Medical expects 2008gross margin to be approximately 77%. The Company's previous estimate for2008 gross margin was 78.5%.
Advertisement
The increase in the Company's 2008 financial estimates is primarily due tostrong results from an advertising campaign for its products that was launchedin the second quarter, as well as expected contributions from acquisitionsmade in 2008. The Company recently started production at Peng Lai Jin ChuangCompany ("Jin Chuang"), a newly established pharmaceutical company acquired inJune. While Jin Chuang is expected to have a positive impact on 2008 results,it will take time for the Company to ramp up its manufacturing capacity andoptimize efficiency in order to achieve large scale production. The Companyis also increasing its level of R&D spending in the second half of 2008 tosupport its growing new product pipeline.
"Our business continues to perform well, and our recent acquisitions andthe success of a large advertising campaign for our products that we launchedin the second quarter are helping to drive our sales," said Mr. Yan-Qing Liu,Chairman, President, and CEO of China Sky One Medicine Inc. "We believe thatwe will see strong future growth as we continue our strategy of hiring directterritory managers and sales agents to strengthen our distribution channels,as well as increase our R&D to develop a wider range of new and excitingproducts."
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company.The Company engages in the manufacturing, marketing and distribution ofpharmaceutical, medicinal and diagnostic products. Through its wholly-ownedsubsidiaries, Harbin Tian Di Ren Medical Science and Technology Company,Harbin First Bio- Engineering Company Limited, and Heilongjiang TianlongPharmaceutical, Inc., the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. Formore information, visit http://www.skyonemedical.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities LitigationReform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should,""project," "plan," "seek," "intend," or "anticipate" or the negative thereofor comparable terminology. Such statements typically involve risks anduncertainties and may include financial projections or information regardingour future plans, objectives or performance. Actual results could differmaterially from the expectations reflected in such forward-looking statementsas a result of a variety of factors, including the risks associated with theeffect of changing economic conditions in The People's Republic of China,variations in cash flow, reliance on collaborative retail partners and on newproduct development, variations in new product development, risks associatedwith rapid technological change, and the potential of introduced or undetectedflaws and defects in products, and other risk factors detailed in reportsfiled with the Securities and Exchange Commission from time to
