HARBIN, China, Feb. 10 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. (“China Sky One Medical” or “the Company”) (Nasdaq: CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People’s Republic of China (“PRC”), today reaffirmed its revenue and net income guidance for the full-year 2008 period.
Due to continued strong organic growth and contribution from its recent acquisitions, the Company reaffirmed its full year 2008 revenue estimate of $88-$90 million, and its full year 2008 net income estimate of $27-$28 million. China Sky One Medical also reaffirmed its 2008 gross margin estimate of approximately 77%, which it expects to improve once production capacity at its recently acquired facilities reaches normalized levels.
“Despite the global economic recession, we continue to experience strong demand for our products in China since they address common everyday ailments and are reasonably priced, with consumers only paying a small portion of the cost while the remainder is covered by healthcare insurance,” said Mr.
Yan-Qing Liu, Chairman and CEO of China Sky One Medical. “Best-selling products such as our Slim Patch continue to do well since consumers are more likely to spend on weight loss products at the expense of other discretionary items. In addition, we have a high degree of customer loyalty, especially with our weight loss products, due to our successful advertising campaign in 2008.”
“Our pipeline of new drugs is robust and we continue to add new sales agents to keep up with the rapid development of the Chinese pharmaceutical market,” said Mr. Yan-Qing Liu. “We are currently looking at even more creative promotional and marketing strategies as we continue to launch a host of new and exciting products in 2009. Overall, we believe that we are very well positioned to execute on our growth strategy and look forward to continued strong financial performance.”
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 of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR"), Harbin First Bio- Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Pharmaceutical Company (“Jin Chuang”) the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more 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 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:
Company Contact:
China Sky One Medical, Inc.
Mr. Yu-Bo Hao, CFO
Tel: +86-451-5399-4069
Email: china_sky_one@yahoo.cn
Investor Relations Contact:
CCG Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
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