Dk Sinopharma Inc. (GREY:DKSP)

Wednesday, June 9, 2010

DONGKE PHARMACEUTICALS, INC
 
CONSOLIDATED STATEMENTS OF INCOME
 
FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008 
 
             
   
2009
   
2008
 
             
Sales, net
  $ 18,943,917     $ 12,059,437  
                 
Cost of sales
    10,591,759       6,792,216  
                 
Gross profit
    8,352,158       5,267,221  
                 
Selling, general and administrative expenses
    3,568,670       3,092,660  
                 
                 
Income from operations
    4,783,488       2,174,561  
                 
Other Income (Expense)
               
Interest income
    3,304       6,729  
Interest expense
    (327,141 )     (319,472 )
Government grant
    -       205,135  
Other income
    380,924       412,963  
Other expense
    (12,967 )     (41,989 )
Total other Income (Expense)
    44,120       263,366  
                 
Income before income taxes
    4,827,608       2,437,927  
                 
Provision for income taxes
    -       -  
                 
Net income
  $ 4,827,608     $ 2,437,927  
                 
Net income per common share
               
Basic
    26,700,000       26,700,000  
Diluted
    26,700,000       26,700,000  
                 
Weighted average common shares outstanding
               
Basic
  $ .18     $ 0.09  
Diluted
  $ .18     $ 0.09  
                 
Net income
  $ 4,827,608     $ 2,437,927  
Other comprehensive income (loss)
    11,067       (47,178 )
Comprehensive income (loss)
  $ 4,838,675     $ 2,390,749


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