China Sky One Medical, Inc., one of the leading producers and distributors for external-Chinese medicines in China, has announced third quarter 2006 financial results.

Financial highlights from the third quarter of 2006 compared to the third quarter of 2005 include: Revenues increased 198% to $6.77 million in 3Q06 from $2.27 million i3Q05. Net income increased 185% to $1.57 million in 3Q06 from $0.55 million in 3Q05. Gross income grew 195% to $4.57 million in 3Q06 from $1.55 million in 3Q05 Income from operations increased 188% to $1.89 million from $0.66 million in 3Q05

"The Company has reached a major milestone after the close of the Company's private placement of equity securities in October," stated Dr. Liu Yan-Qing, Chief Executive Officer and President of China Sky One Medical, "We now have the funds to begin implementing our plan to establish a cord blood stem cell and tissue bank, approved and licensed by the People's Republic of China (PRC) and Heilongjiang Province, which will diversify our operations and eventually add to the Company's continuous growth in revenue."

China Sky One Medical, Inc. is a holding company whose principal operations are through its subsidiaries, which are engaged in the manufacture, marketing and distribution of pharmaceutical and medicinal 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.

Source:佚名