CHENGDU, China, July 8 TianyinPharmaceutical Co., Inc., (NYSE Amex: TPI), a manufacturer and supplier ofmodernized traditional Chinese medicine ("TCM") based in Chengdu, China, todaydeclared a quarterly cash dividend to be paid to its common stock shareholders.The dividend of $0.025 will be paid to shareholders of record as of July 31,2009, with the actual distribution occurring on or about September 10, 2009.
In addition, Tianyin will pay the quarterly dividend on its Series APreferred Stock in cash to holders of record as of June 30, 2009. As of July 1,2009, there are 6,826,500 shares of Series A Preferred Stock outstanding,which are convertible into shares of Tianyin's common stock at $1.60 per shareand mature in January 2011.
Dr. Jiang Guoqing, Tianyin's Chairman and Chief Executive Officer,commented, "We appreciate the continued support of both our common andpreferred shareholders. With a strong balance sheet, positive cash flow and agrowing business, we have the resources to prudently manage our capitalstructure, while providing a current return to new and existing investors."
About Tianyin Pharmaceuticals
Tianyin is a manufacturer and supplier of modernized Traditional ChineseMedicine ("TCM") in China. It was established in 1994 and acquired by thecurrent management team in August 2003. It has a comprehensive productportfolio of 33 modernized TCMs and 5 generic western medicines in the market,22 of which are listed in the highly selective National Medicine Catalog ofthe National Medical Insurance Program. Tianyin owns and operates two GMPmanufacturing facilities and an R&D platform supported by leading Chineseacademic institutions. The Company has a pipeline of 47 pharmaceuticalproducts pending approval. Tianyin has an extensive nationwide distributionnetwork throughout China with a sales force of 720 salespeople. Tianyin isheadquartered in Chengdu, Sichuan Province with two manufacturing facilitiesand a total of 1,365 employees. Tianyin achieved revenue of approximately$33.5 million and net income of approximately $6 million in FY2008 ending June30, 2008. For more information about Tianyin, please visithttp://www.tianyinpharma.com .
Safe Harbor Statement
The Statements which are not historical facts contained in this pressrelease are forward-looking statements that involve certain risks anduncertainties including but not limited to risks associated with theuncertainty of future financial results, additional financing requirements,development of new products, government approval processes, the impact ofcompetitive products or pricing, technological changes, the effect of economicconditions and other uncertainties detailed in the Company's filings with theSecurities and Exchange Commission.For more information, please contact: For the Company: Allen Tang, Ph.D., MBA, Assistant to the CEO China Tel: +86-158-2122-5642 Email: [email protected]
Investors: Mr. Matthew Hayden, HC International Tel: +1-561-245-5155 Email: [email protected]
SOURCE Tianyin Pharmaceutical Co., Inc.