HARBIN, China, May 23 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (OTC Bulletin Board: CSKI), one of the leading producers and distributors for external Chinese medicine in China, today announced its financial projections for its fiscal second quarter 2007 ending June 30, 2007.
For the second quarter 2007, the Company anticipates revenue to be in the range of RMB 99.6 to 110.6 million (approximately USD$12.8 to $14.2 million) and net income to be in the range of RMB 38.7 to 43 million (approximately USD$5 to $5.5 million). The Company determined its preceding guidance based on the current exchange rate of 7.79.
In the second quarter 2006, the company reported revenues of USD $5.1 million and net income of USD $1.5 million.
The Company’s second quarter 2007 revenue and net income forecasts are based on projected growth in the following areas/segments:
-- Export sales
-- Sales of early pregnancy diagnostic kits
-- Sales of other manufactured brands through the Company’s existing
distribution network
-- Sales of the company’s OTC products
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company whose principal operations are through its subsidiaries, which are engaged in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic kit products. Through its wholly-owned subsidiaries, American California Pharmaceutical Group, Inc. ("ACPG"), Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), Kangxi Medical Care Product Factory ("Kangxi"), and Harbin First Bio-Engineering Company Limited ("First"), the Company's principal revenue source is the manufacture and sale of over-the-counter pharmaceutical products. For more information, please visit http://www.skyonemedical.com .
Safe Harbor Statement
Certain of the statements made herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Ashley Ammon MacFarlane & Bill Zima
ICR, Inc.
Tel: +1-203-682-8200
