China Sky One Medical Issues Financial Guidance for Third Quarter 2007

2007-08-22 17:21 715

HARBIN, China, Aug. 22 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (OTC Bulletin Board: CSKI), a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products in China, announced today financial projections for the third quarter 2007 ending September 30, 2007.

For the third quarter 2007, the Company anticipates revenue to increase 109% to approximately USD$14.0 million from USD$6.7 million in the same period of 2006. Gross margin is expected to improve substantially to 77%, compared to 67% in the third quarter of 2006.

The Company's third quarter 2007 revenue and gross margin forecasts are based on projected growth in the following areas/segments:

-- Sales growth of the Company's proprietary product line

-- Sales of other manufactured brands through the Company's expanding

distribution network

-- Export sales of the Company's product, the Slim Patch

These forecasts reflect the Company's current and preliminary view, which is subject to change.

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, Harbin Tian Di Ren Medical Science and Technology Company ("TDR") 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. .

Safe Harbor Statement

Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform 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 thereof or comparable terminology. 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, and 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:

In the United States:

Ashley Ammon MacFarlane

Integrated Corporate Relations, Inc.

Tel: +1-203-682-8200 (Investor Relations)

Bill Zima

Integrated Corporate Relations, Inc.

Tel: +1-203-682-8200 (Investor Relations)

In Asia:

Xuyang Zhang

Integrated Corporate Relations, Inc.

Tel: +86-10-8523-3087 (Investor Relations)

Source: China Sky One Medical, Inc.
Related Stocks: