Skystar Bio-pharmaceutical Co. (fka SKBI)

[surf1944]

9:01AM Skystar Bio Pharma's Huxian veterinary drug manufacturing plant passes the Ministry of Agriculture's onsite GMP recertification testing; reaffirms FY12 rev (SKBI) 2.04 : China's Ministry of Agriculture (MOA) Good Manufacturing Process "GMP" experts have physically inspected Skystar's Huxian veterinary drug manufacturing plant and has published its recommendation to renew Skystar's GMP certificate which is valid for a period of five years. Following post-inspection protocol, Skystar is expecting to receive its renewed GMP certificate by the end of July 2012 and to resume the production thereafter. Skystar is still waiting for the MOA to schedule a first time physical GMP certification inspection of its expanded vaccine manufacturing plant in Huxian. Skystar believes that the physical inspection process should occur by the 2H12. The co believes it will see this facility generate rev beginning in our fiscal 2013 operating year. CEO: "We are pleased that Skystar's veterinary medicine facility has passed the MOA's onsite inspection and that the process was concluded in a timely manner. We have forecasted a partial revenue contribution from this veterinary drug manufacturing plant for fiscal 2012 and maintain our previously announced revenue guidance of $53-57 mln for the full year (no ests).

[surf1944]

Skystar Bio-Pharmaceutical Reports First Quarter 2012 Results

Revenue Increased 12% to $7.9 Million; Fully Diluted EPS of $0.26 for the Period; Conference Call to Be Held May 16, 2012 at 7:45 AM EDT
MarketwirePress Release: Skystar – Wed, May 16, 2012 5:00 AM EDT

XI'AN, CHINA--(Marketwire -05/16/12)- Skystar Bio-Pharmaceutical Company (SKBI) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today reported unaudited first quarter fiscal year 2012 earnings, for the period ended March 31, 2012.

First Quarter 2012 Highlights

Revenue increases 12% YoY to $7.9 million
Veterinary vaccines totaled$0.75 million, up 150% YoY
Veterinary medicines totaled $3.0 million, decreasing 38% YoY
Feed additives totaled $1.0 million, up 217% YoY
Pro-biotic micro-organism products totaled $3.1 million, up 96% YoY
Gross Profit $4.3 million up 19% for the first three months of fiscal 2012 YoY
Gross Margin of 54% for the first three months of fiscal 2012, compared to 51% in the prior 2011 period
Net Income $1.9 million or $0.26 per fully diluted share, compared with $1.9 million or $0.27 per fully diluted share in the year ago period
Company reiterates Fiscal 2012 revenue guidance range of $53 million to $57 million

Management's Comments
Mr. Weibing Lu, Chairman and Chief Executive Officer of Skystar, commented, "Management is pleased to announce a strong start for Skystar closing the first quarter of the new fiscal year on pace to meet fiscal guidance. While 2012 marks a transitional year for the Company, Skystar continues to internally fund infrastructure projects that will increase production capability, develop product pipeline internally in addition to expanding our distribution footprint across new markets. We believe these efforts will generate meaningful new sources of revenue and profit, ultimately maximizing shareholder value.

"As a veterinary pharmaceutical manufacturer in China, Skystar is subject to periodic examinations of its manufacturing facilities every five years. Our Huxian facility which manufactures veterinary medicine in addition to the completed extension which will produce animal vaccines are currently closed for GMP inspections. We expect recertification of the medicine manufacturing plant to be completed in the third quarter of 2012 and first time GMP examination for the vaccine facility to be completed in the second half of the fiscal year. To date, the Company has submitted all application materials necessary for the medicine plant's GMP re-certification which have already been accepted by the Ministry of Agriculture. We expect that Skystar's vaccine facility will complete its GMP certification process by the second half of 2012. Unlike 2011, much of the sweeping concerns in China for human food manufacturing and safety have largely been addressed in the prior year allowing the government to shift its focus to other areas of need such as certification of newly built medical product manufacturing facilities.

"We currently have two veterinary medications plants located in Huxian and Jingzhou with Huxian being our main facility. The Jingzhou plant completed its GMP re-examination in 2011 and resumed its partial production in the first quarter of 2012 and is now under way to resume its normal production. We plan to increase the production and sales of veterinary medications in the Jingzhou plant while the Huxian facility awaits GMP re-examination.

"With this said, Skystar continues to actively position itself for the growth of its infrastructure using cash generated from operating activities and other non-dilutive measures. This fiscal quarter's results are evidence that management can successfully implement strategic growth initiatives while maintaining profitability for shareholders," concluded Mr. Lu.

Financial Summary
Skystar reported fiscal first quarter 2012 Revenues of $7,926,337, a 12% increase compared to the $7,086,954 in revenues reported for fiscal first quarter of 2011. Gross profit for first quarter 2012 was $4,282,679, up 19.1% from first quarter 2011. Gross profit margin for the period was 54.0% and in-line with historical year over year comparables.

The breakdown for Operating Expenses is as follows: Research and development costs totaled $3,654 for the three months ended March 31, 2012 as compared to $287,472 for the three months ended March 31, 2011, a decrease of $283,818 or 98.7%. The decrease was primarily due to no significant new R&D efforts undertaken during the first quarter of 2012. However, R&D is scheduled to ramp later in the fiscal year.

Selling expenses totaled $705,616 for the three months ended March 31, 2012 as compared to $369,404 for the three months ended March 31, 2011, an increase of $336,212 or 91.0%. This increase is primarily a result of significantly increased shipping and handling costs related to delivering our products to customers as we continued to expand our market to remote areas, and to rising oil price and continuing inflation pressure in China, which resulted in higher unit costs for transportation and delivery services. Shipping and handling costs totaled $383,703 and $194,216 for the three months ended March 31, 2012 and 2011, respectively, an increase of $189,487 or 97.6%. In addition, the increases in the sales forces and selling commission due to new sales incentive programs initiated later last year also contributed to the increase in selling costs. Selling salaries totaled $105,810 and $34,811 for the three months ended March 31, 2012 and 2011, respectively, an increase of $70,999 or 204.0%. Selling commission totaled $135,617 and $79,818 for the three months ended March 31, 2012 and 2011, respectively, an increase of $55,799 or 69.9%.

General and administrative expenses totaled $1,105,435 for the three months ended March 31, 2012 as compared to $1,294,798 for the three months ended March 31, 2011, a decrease of $189,363 or 14.6%. The decrease was mainly due to decreased amortization expenses, G&A travel and office expenses during the first quarter of 2012. The decrease in amortization expense was because the patent acquired through the acquisition of Jingzhou plant was fully amortized in 2011. Amortization expenses totaled $100,373 and $230,922 for the three months ended March 31, 2012 and 2011, respectively, a decrease of $130,549 or 56.5%. In addition, the decreases in the G&A travel and office expenses due to the Company's continued efforts to optimize cost control also contributed to the decrease in G&A costs in the first quarter. G&A travel costs totaled $16,215 and $120,372 for the three months ended March 31, 2012 and 2011, respectively, a decrease of $104,157 or 86.5%. G&A office expenses totaled $31,042 and $142,140 for the three months ended March 31, 2012 and 2011, respectively, a decrease of $111,098 or 78.2%. The increase in the audit costs of $99,480 in the first quarter of 2012 partially offset the impact of the cost reduction in other G&A items.

Income from operations: increased 50.1% to $2,467,974 for first quarter fiscal 2012 as compared to $1,643,934 in the comparable fiscal 2011 period.

Net income: remained flat, decreasing slightly by 1.4% year over year to $1,904,754 or $0.26 per fully diluted share, as compared to $1,931,832 or $0.27 per fully diluted share in the year ago period.

Financial position: as of March 31, 2012 Skystar had $9,386,584 in cash, current assets of $65,028,677 and total liabilities of $19,188,340, which resulted in a net working capital of $45,840,337.

Business outlook: The Company reiterates Fiscal year 2012 revenue guidance to be in the range of $53 million to $57 million for the full year.

NASDAQ listing compliance matter: On January 12, 2012, the Company received a staff determination from the Nasdaq Stock Market ("Exchange") indicating that since the Company did not hold its 2010 annual shareholder meeting by December 31, 2011, the Company was not in compliance with Nasdaq Listing Rule 5620(a) and (b) relating to the time frame of and proxy solicitation in connection with annual shareholder meetings and, therefore, the Exchange staff determined to initiate proceedings to delist the Company's securities from Nasdaq at the open of business on January 23, 2012. On April 27, 2012, the Company held its 2011 Annual Meeting of Shareholders. On May 1, 2012, the Exchange confirmed that the Company had met the requirements of the Panel's decision dated March 26, 2012, and was in compliance with all other applicable requirements for continued listing on Nasdaq. The matter is now closed.

Conference Call & Webcast Information
A conference call will be held May 16, 2012 at 7:45 AM. The webcast will be made available on the investor relations section of the Skystar corporate website at http://www.skystarbio-pharmaceutical.com or http://www.investorcalendar.com/IC/CEPage.asp?ID=168301.

Telephone access to the conference call will be available in North America by dialing [phone] or internationally by dialing [phone].

An audio replay of the conference call will be available approximately two hours following the conclusion of the call and for the following 30 day period. To access the replay in North America, dial [phone] or, when calling internationally, dial [phone], using replay account code # 286 and conference ID # 393102. An archived replay of the conference webcast will also be available on investor relations section of the Skystar corporate website at http://www.skystarbio-pharmaceutical.com.

To be added to the Company's email distribution for future news releases, please send your request to [e-mail].

[surf1944]

Skystar to File Audited Financial Results for Full Fiscal Year 2011 on Friday, March 30, 2012

Conference Call to follow on Monday, April 2, 2012 at 7:45 AM (EDT)
MarketwirePress Release: Skystar Bio-Pharmaceutical – 2 hours 1 minute ago

XI'AN, CHINA--(Marketwire -03/29/12)- Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI - News) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, will file its audited financial results for the full fiscal year 2011 on Friday, March 30, 2012 at the end of the business day.

Conference Call Information
The Company will host a conference call on Monday, April 2, 2012 to discuss its financial results for the year ended December 31, 2011. Skystar's conference call will begin promptly at 7:45 a.m. EDT to review fiscal year 2011 financial and operational performance. Mr. Weibing Lu, Skystar's chairman and chief executive officer, will host the call, which will be webcast live.

Webcast
The webcast will be made available on the investor relations section of the Skystar corporate website at http://www.skystarbio-pharmaceutical.com or http://www.investorcalendar.com/IC/CEPage.asp?ID=167900.

Phone dial-in
Telephone access to the conference call will be available in North America by dialing [phone] or internationally by dialing [phone].

An audio replay of the conference call will be available approximately two hours following the conclusion of the call and for the following 30 day period. To access the replay in North America, dial [phone] or, when calling internationally, dial [phone], using replay account code # 286 and conference ID # 391620. An archived replay of the conference webcast will also be available on investor relations section of the Skystar corporate website at http://www.skystarbio-pharmaceutical.com.

To be added to the Company's email distribution for future news releases, please send your request to [e-mail].

About Skystar Bio-Pharmaceutical Company
Skystar is a China-based developer and distributor of veterinary healthcare and medical care products. Skystar has four product lines (veterinary medicines, micro-organisms, vaccines and feed additives) and over 284 products. Skystar has formed strategic sales distribution networks covering 29 provinces throughout China. For additional information, please visit http://www.skystarbio-pharmaceutical.com.

[surf1944]

NASDAQ Panel Grants Skystar's Request for Continued Listing on NASDAQ Stock Market

Skystar Must Provide Evidence That It Has Held Its 2011 AGM by April 28, 2012
MarketwirePress Release: Skystar Bio-Pharmaceutical – Tue, Mar 27, 2012 8:30 AM EDT

XI'AN, CHINA--(Marketwire -03/27/12)- Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI - News) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced that on March 26, 2012 it received a letter from the NASDAQ Listing Qualifications Panel ("the Panel") informing the Company that the Panel has determined to grant the request of Skystar to remain listed on The NASDAQ Stock Market ("NASDAQ"), subject to the condition that by April 28, 2012, Skystar provides evidence that it has held its 2011 annual shareholder meeting. In the event the Company is unable to hold such meeting or hold the meeting within the said timeframe, its securities may be delisted from NASDAQ, in which event the Company would seek to cause them be quoted in over the counter markets, which may result in a substantially less liquid market for the securities.

As previously disclosed, the Panel's decision follows a hearing held on March 1, 2012 at which time the Panel was presented with the Company's plan to regain compliance with NASDAQ's Listing Rule 5620(a) and (b) relating to the time frame of and proxy solicitation in connection with annual shareholder meetings.

To be added to the Company's email distribution for future news releases, please send your request to [e-mail].

About Skystar Bio-Pharmaceutical Company
Skystar is a China-based developer and distributor of veterinary healthcare and medical care products. Skystar has four product lines (veterinary medicines, micro-organisms, vaccines and feed additives) and over 284 products. Skystar has formed strategic sales distribution networks covering 29 provinces throughout China. For additional information, please visit http://www.skystarbio-pharmaceutical.com.

[Penny Roger$]

~ Monday! $SKBI ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $SKBI ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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~ Google Finance: http://www.google.com/finance?q=SKBI
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~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=SKBI+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=SKBI
Finviz: http://finviz.com/quote.ashx?t=SKBI
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http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[surf1944]

Skystar Sets Record Date and Meeting Date for 2011 Annual General Meeting
MarketwirePress Release: Skystar Bio-Pharmaceutical – Fri, Feb 10, 2012 8:30 AM EST

XI'AN, CHINA--(Marketwire -02/10/12)- Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI - News) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced that the Company set March 10, 2012 as the record date for its 2011 annual general meeting of shareholders to be held April 27, 2012 at 7:45 p.m. China Standard Time, or 7:45 a.m. on April 27, 2012, Eastern Daylight Time and will be held at the Company's principal executive offices located at 4/F Building B Chuangye Square, No. 48 Keji Road, Gaoxin District, Xi'an, Shaanxi Province, P.R. China.

To be added to the Company's email distribution for future news releases, please send your request to [e-mail].

About Skystar Bio-Pharmaceutical Company
Skystar is a China-based developer and distributor of veterinary healthcare and medical care products. Skystar has four product lines (veterinary medicines, micro-organisms, vaccines and feed additives) and over 284 products. Skystar has formed strategic sales distribution networks covering 29 provinces throughout China. For additional information, please visit http://www.skystarbio-pharmaceutical.com.

[surf1944]

http://www.nasdaq.com/symbol/skbi/sec-filings

[surf1944]

Skystar Bio-Pharmaceutical Reports Second Quarter 2011 Results
$9.1 Million Top Line; $0.21 Diluted EPS; Expanded Direct Distribution and Sales Channels


Press Release Source: Skystar Bio-Pharmaceutical On Monday August 22, 2011, 5:37 pm EDT

XI'AN, CHINA--(Marketwire -08/22/11)- Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI - News) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today reported unaudited second quarter fiscal year 2011 earnings, for the period ended June 30, 2011.

Second Quarter 2011 Highlights

Revenue increases 10% YoY to $9.1 million
Veterinary vaccines totaled $0.4 million, up 1.2% YoY
Veterinary medicines totaled $6.3 million, up 15% YoY
Feed additives totaled $0.4 million, up 6% YoY
Micro-organism products totaled $2.0 million, flat YoY
Gross margin of 49% for the second quarter of fiscal 2011 as compared to 53% in the year ago period
Net income of $1.5 million or $0.21 per fully diluted share, compared with net income of $2.4 million or $0.33 per fully diluted share in the year ago period
6% increase in the number of distribution agents and direct customers from 1,026 in Q1 to 2,253 in Q2

First Half 2011 Financial Highlights

First half fiscal 2011 revenue increases 23% YoY to $16.2 million
Gross margin of 50% for the first half of fiscal 2011 as compared to 53% in the year ago period
Net income of $3.4 million or $0.48 per fully diluted share, compared with net income of $3.5 million or $0.49 per fully diluted share in the year ago period

Management Comments
Mr. Weibing Lu, Skystar Bio-Pharmaceutical's chairman and chief executive officer, commented, "Skystar is pleased with its second quarter performance in light of adverse market conditions. The Company has successfully funded product development internally and expanded its distribution footprint while still achieving revenue growth for the quarter as compared to the same period a year ago.

"The increase in research and development costs is necessary to remain competitive as the Company believes that it can no longer rely on making significant pre-payments for raw materials to protect its gross margins in the long term. We maintain a long term strategy for achieving sustained growth and profitability by periodically developing new high gross margin products according to demand and expanding manufacturing capability and distribution. In order to preserve market share and expand into new territories, we have not raised our sales prices as we believe our customers would not be able to absorb pricing increases in this environment and such an increase would erode our market share.

"During the second quarter, we made significant investments in R&D, staging initiatives to develop four new specialty high margin veterinary medication projects. We also successfully launched nine new veterinary medicines and six new feed additives and increased direct distribution channels by six percent as compared to the previous quarter. While this action has increased operating expenses for the quarter and reduced net income, we deemed the move necessary for expanding Skystar's diverse high margin product lines. Given current market conditions, we acknowledge that advanced purchases of raw materials has helped offset significantly higher raw material costs. However, in order to preserve our historical gross margins in the long term, we must continue to expand our distribution footprint and remain focused on developing and marketing our higher margin products.

"China has imposed policies to combat the effects of inflation and upwardly spiraling prices of the nation's food supply. As a result, wholesale market prices of meat became flat, negatively affecting the profits of some animal farmers. The diminished profitability has resulted in a reduction of animal farming and subsequently reduced some demand for our products. Wholesale meat prices have recently begun to increase to previous levels, and we expect farming to resume and demand for our products to return.

"Additionally, an ongoing drought in some regions of China has affected animal farming and aquaculture cultivation. The decreased supply of fresh water available for farming has adversely affected net sales of some of Skystar's products lines including pro-biotics and aquaculture.

"China's government has also started to put pressure on the animal husbandry industry to reduce its reliance on veterinary pharmaceuticals used in bringing animals to term for sale. These efforts are a commitment by China's government to increase the relative food safety for its citizens in addition to standardizing protocols of the animal husbandry industry itself.

"Due to several epidemics and concerns over food safety for China's food supply, the Ministry of Agriculture is delaying further inspections of veterinary pharmaceutical facilities. With this in mind, we believe that GMP certification of Skystar's new vaccine facility should be completed by the end of 2011.

"The fundamental challenge for Skystar is to utilize our industry expertise in staying on top of customer needs while maintaining profitability for our shareholders. China's overall market demand for animal based protein and the evolving commercial animal husbandry industry has not diminished and will drive the long term demand for our products, our growth, and our profitability for years to come.

"With this in mind, we believe that Skystar has taken the necessary measures to maintain our position as a market leader while weathering negative near term events. We value our shareholders and believe that we have positioned Skystar for long term growth in spite of a challenging operating environment and look forward to presenting our results and answering any investor questions concerning our operating environment during tomorrow's conference call," concluded Mr. Lu.

http://finance.yahoo.com/news/Skystar-Bio-Pharmaceutical-iw-206587848.html?x=0

[hogar]

I am not aware of any such claims. Source? You might be interested in checking out the slides from this month's Rodman and Renshaw presentation at Skystar's website. The business continues to grow and the new auditor has a better reputation.

[Yakima]

Some original shareholders prior to the SKBI listing on Nasdaq complains that they have been forgotten by the company and their shares have not been converted to the shares here tradable. Do you know anything about that? Have any 10-K addressed the issue?

[hogar]

http://finance.yahoo.com/news/Skystar-Extends-Second-iw-1373091810.html?x=0

Filing for extension. New due date will be Aug. 22. Seems the former CFO was not able to get the numbers out for whatever reason.

[Yakima]

Not sure, either good or bad sign. The timing is really not good.

Do you know when the earning will be out?

[hogar]

On the surface, his resignation is not a good sign. We'll likely get more clues in a few days when earnings are released if there is something fundamentally wrong.

[Yakima]

Why Mike resigned at this time?

[surf1944]

9:19AM Skystar Bio Pharmaceutical appoints new CFO (SKBI) 4.20 : Co announced the appointment of Mr. Bing Mei to become the co's permanent CFO, effective as of July 29, 2011. Mr. Mei is a seasoned CFO fluent in both English and Mandarin with over 20 years of diverse industry experience including technology services and industrial manufacturing businesses and a successful track record of CFO/Controller roles with a variety of publicly traded Fortune 500 companies.

[mlkrborn]

Skystar Bio Pharmaceutical appoints new CFO (SKBI) 4.20 : Co announced the appointment of Mr. Bing Mei to become the co's permanent CFO, effective as of July 29, 2011. Mr. Mei is a seasoned CFO fluent in both English and Mandarin with over 20 years of diverse industry experience including technology services and industrial manufacturing businesses and a successful track record of CFO/Controller roles with a variety of publicly traded Fortune 500 companies.

[surf1944]

http://www.nasdaq.com/asp/quotes_sec.asp?symbol=SKBI&selected=SKBI

[surf1944]

http://www.nasdaq.com/aspxcontent/shortinterests.aspx?symbol=SKBI&selected=SKBI

[surf1944]

http://www.fixyou.co.uk/tracker_details.php?s=SKBI

[surf1944]

http://www.nasdaq.com/asp/holdings.asp?symbol=SKBI&selected=SKBI&FormType=Institutional

One problem with SKBI is there is no fund support in the stock, more than likely going lower into the summer...

[vantillian]

SBKI = IRA killer. Bummer. Thought this one was the real mccoy. Guess ya never know!

[bUrRpPPP!]

Cautious news letter....

What do you mean by "a hit piece"?

[hogar]

What do you mean by "a hit piece"?

[bUrRpPPP!]

Careful....i've heard rumblings of a hit piece....g/l

[vantillian]

One would think this is a good buy around here 3.40.......where's the bottom on this thing? sheeeesh

[Blckcat5000]

EVERYTHING YOU NEED TO KNOW about Chinese stocks. This is my bible per se.

http://www.fixyou.co.uk/tracker_allstocks.php

[hogar]

The text of the article read:

Ineffective internal controls, especially when issue exists for an extended period of time. (Skystar Biopharma (SKBI)).

Not sure what he is talking about unless it it the change in the CFO last April, and the change in auditors in December. Numbers look good though.

[Blckcat5000]

Your right, IMO as well. Anytime a company falls after stellar financials, then something is wrong. Just read a nice article, "27 Red Flags for Chinese RTO Stock Investors loof for." And wouldn't you know it, SKBI was in there. Well, here's another 27 Chinese stocks in the dumps.

[bUrRpPPP!]

Im out...took some nice profits...the space is too dangerous for long term holds right now....

[vantillian]

what did u think of the news? fins look impressive maybe worth holding onto this one in the IRA

[Blckcat5000]

Bought 1000 shares b4 the bell yesterday.... here we go!

Fourth Quarter Revenue of $15.8 Million Reflects 45% Growth YoY; Fiscal Year Revenue of $47.5 Million Reflects 41% Growth YoY
XI'AN, CHINA -- (Marketwire) -- 04/12/11 -- Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced fourth quarter and full financial results for fiscal year 2010, for the period ended December 31, 2010.


Fourth Quarter 2010 Highlights
-- Revenue increases 45% YoY to $15.8 million
-- Veterinary vaccines totaled $0.6 million, up 52% YoY
-- Veterinary medicines totaled $11.0 million, up 39% YoY
-- Feed additives totaled $0.6 million, up 50% YoY
-- Micro-organism products totaled $3.6 million, up 66% YoY
-- Gross margin increased from 50% for the three months ending
December 31, 2009 to 54% for the three months ended December 31, 2010
-- Net income increased 26% to $3.9 million or $0.55 per fully diluted
share, compared with $3.1 million or $0.44 per basic share in the
fourth quarter of 2009

Fiscal Year 2010 Highlights
-- Revenues totaled $47.5 million, up 40.8% YoY
-- Veterinary vaccines totaled $1.9 million, up 39.1% YoY
-- Veterinary medicines totaled $32.0 million, up 39.9% YoY
-- Feed additives totaled $1.9 million, up 38.4% YoY
-- Micro-organism products totaled $11.5 million, up 43.9% YoY
-- Gross profit margin was 53.7% in line with historical gross margin
-- Net income increased 21.9% year over year to $14.0 million or $1.98
per fully diluted share, as compared to $8.8 million or $1.62 per basic
share during the year ended December 31, 2009. Increased net cash
provided by operating activities position to $7.7 million up from
$1.3 million in the year ago period
-- Improved cash balance to $5.9 million at the end of fiscal 2010


Management Year in Review

Mr. Weibing Lu, Skystar Bio-Pharmaceutical's chairman and chief executive officer, commented, "We are pleased to announce strong financial results for the fourth quarter and full fiscal 2010 year. The Company was able to grow top line revenue by over 40% year-over-year to $47.5 million and net income by over 20% year-over-year to $14.0 million. Additionally, Skystar improved net cash from operating activities significantly to $7.7 million as compared $1.3 million in the year ago period.

"In fiscal 2010, Skystar continued to build both brand and presence across all 29 farming regions in China and was able to increase its number of customers by 36% to 2,703 customers consisting of independent distributors, franchise distributors and direct customers.

"Accordingly, a report by the World Resource institute indicated that meat intake per person has grown from 55 pounds per annum in 1990 to roughly 116 pounds in 2008. This statistical trend highlights Skystar's opportunity to service a growing industry and we expect to successfully expand sales with profitability in mind.

"In 2010, Skystar continued to utilize working capital to prepay for raw materials. This buy-forward strategy helped Skystar manage fluctuations in raw material costs. Skystar as of current has adequate working capital to fund its operations and prepayment of raw materials but will continue to seek ways to improve its working capital position. Additionally the Company will continue to utilize a buy-forward strategy in order to mitigate and better forecast raw material costs for 2011.

"In 2010, the Company increased its product line to 256 products as compared to 173 products at the end of fiscal 2009. The newly acquired Jingzhou facility contributed $1.3 million in sales revenue for fiscal 2010, nearly all of which occurred in the fourth quarter which on an annualized run rate would generate $3.0 million to $5.0 million in revenue per year.

"Skystar owns three production facilities in total: two are in Xi'an City in Shaanxi Province and one facility in Jingzhou City in Hubei Province. Both the Huxian plant and the Jingzhou plant are 'GMP' certified to produce veterinary animal medicines.

"The vaccine facility in the Huxian plant finished construction in June of 2010; equipments installations, tooling and testing of the plant's manufacturing processes was finished later in the third quarter of 2010. The Company has applied to the MOA for GMP certification and is currently waiting for the appointment date from the Ministry. The GMP approval process is taking much longer than we initially expected due to sweeping regulatory changes in the GMP certification and approval process for veterinary vaccine manufacturers. Skystar believes that its facilities will pass new GMP standards.

"The Company is still in the process of closing the Kunshan based probiotics micro-organism manufacturing plant in Jiangsu province. The Company as of current has invested roughly $8 million in connection with the acquisition. As of October 2010 the Company has received the title of land use right for the facility. Skystar expects the final stages related to clearing all necessary government approvals to close this acquisition to be completed within the first half of fiscal 2011. Skystar forecasts this production facility will contribute approximately $35 million to $39 million in 5 years."


Key Fiscal 2010 Business Highlights
-- Started production in the newly acquired Jingzhou facility and seeing
positive contributions to earnings
-- Increased customer count and started production of new products
-- Inducted in Forbes, "Asia's 200 Best Companies Under a Billion" list
-- Secured low interest $3.0 million dollar line of credit and loan
facility of $0.7 million in China
-- Appointed Crowe Horwath as new independent auditor
-- Completed the build-out of the new vaccine facility


Fourth Quarter 2010 Results

Skystar's revenue for the fourth quarter 2010 was $15.8 million, up 45% from fourth quarter 2009.

Gross profit for fourth quarter 2010 was $8.5 million, up 57% from fourth quarter 2009. Gross margin for the period was 54%, slightly higher than historical comparables.

Operating expenses for fourth quarter 2010 were $2.8 million, or 18% of total revenue, compared with $1.6 million, or 15% of total revenue for fourth quarter 2009.

Research and development (R&D) costs increased to $0.2 million, or 2.0% of revenue in fourth quarter 2010, up from $0.3 million, or 3% of revenue during fourth quarter 2009. Skystar continues to anticipate that its research and development costs will increase in future periods as it invests in improvement of existing products and development of new products and product lines.

Selling expenses totaled $0.8 million, or 5.0% of revenue, for fourth quarter 2010, compared with $0.7 million, or 7% of revenue, in fourth quarter 2008. General and administrative expenses were $1.7 million, or 11% of revenue, in fourth quarter 2009, compared with $0.6 million, or 7% of revenue, in fourth quarter 2010.

Operating income increased by 53% year over year to $5.8 million in the fourth quarter of fiscal year 2010, compared with $3.8 million in the same quarter a year ago, and operating margin increased to 36% from 34% in the fourth quarter of 2009.

Net income for the fourth quarter of 2010 was $3.9 million. This compares to net income of $2.6 million in the same quarter of 2009.

Full Year 2010 Results

Skystar reported revenues of $47.5 million for the full fiscal 2010 year, a 40.8% increase compared to the $33.8 million in revenues reported for the full fiscal 2009 year. Gross profit for the full fiscal 2010 year was $25.5 million, or 53.7% of revenues.

Net income for the 2010 full fiscal year was $14.0 million, or $1.97 per diluted share, compared to net income of $8.9 million, or $1.62 per diluted share, for the full 2009 fiscal year.

Total operating expenses increased 33.7% as a result of Skystar's increased footprint; however, as a percentage of revenue decreased to 15.6% from 16.5% in the year prior. Research and Development costs for fiscal 2010 were $0.7 million as compared to $1.1 million in fiscal 2009. Selling expense as a percentage of revenue decreased due to localization of Skystar's sales force and expanded distributorships. General and administrative expenses for our Chinese operating entities increased due to expanded operations and asset acquisitions related to our Kunshan and with the Jingzhou-related acquisition. Approximately $0.4 million was charged to general and administrative expenses for expenses related to the Kunshan acquisition. Approximately $0.6 million was charged to the general and administrative expenses for expenses related to the Jingzhou acquisition.

As of December 31, 2010, Skystar had approximately $5.9 million in cash and restricted cash, current assets of $44.7 million and total liabilities of $9.8 million, which resulted in a net working capital of $37.3 million.

Selection of New Auditor in Fiscal 2010

In fiscal 2010, Skystar interviewed several top tier audit firms in its selection of a new independent auditor. Our new auditor for the 2010 10-K audit is Crowe Horwath LLP in the US. It is the ninth largest accounting firm in the US and also one of the ten accounting firms in the US that is subject to the PCAOB inspection every year. Crowe Horwath, LLP is a leading member of Crowe Horwath International which is the ninth largest accounting network in the world.

Business Outlook

Presently, Skystar anticipates delivering top line revenue in the range of $60.0 to $63.0 million with a gross margin of 50% to 55% for 2011.

Skystar in 2010 saw significant inflation pressures building in China. However, the Company had been able to secure favorable pricing by prepaying for raw materials to major suppliers. The Company anticipates that inflationary pressures will continue in 2011. As a result, the Company is continuing with its buy-forward strategy to suppliers in order to have better control of costs for raw materials.

Mr. Lu concluded, "We are excited with the momentum that Skystar has built as a leader in China's animal healthcare space and as the only U.S. listed pureplay animal healthcare stock. We fully anticipate our current acquisitions and expanded manufacturing facilities to ramp up, bear fruit and further improve Skystar's profitability."

CONFERENCE CALL & WEBCAST INFORMATION

Skystar will host a conference call on Tuesday, April 12th at 8:00 a.m. ET to review the Company's fourth quarter and full fiscal year financial and operational performance. Mr. Weibing Lu, Skystar Bio-Pharmaceutical chairman and chief executive officer, will host the call, which will be webcast live.

[bUrRpPPP!]

SKBI DD INFO link...

http://www.fixyou.co.uk/tracker_details.php?s=SKBI

[bUrRpPPP!]

Skystar to Release Fourth Quarter and Full Fiscal Year 2010 Results on Monday, April 11, 2011
Skystar Bio-Pharmaceutical Company (MM) (NASDAQ:SKBI)
Intraday Stock Chart

Today : Friday 8 April 2011
Click Here for more Skystar Bio-Pharmaceutical Company (MM) Charts.

Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, will report its fourth quarter and full fiscal year results on Monday, April 11, 2011.

The Company will host a conference call on Tuesday, April 12, 2011 to discuss its financial results for the period ended December 31, 2010. Skystar's conference call will begin promptly at 8:00 a.m. ET to review fourth quarter and fiscal year results. Mr. Weibing Lu, Skystar's chairman and chief executive officer, will host the call, which will be webcast live.

The webcast will be made available on the investor relations section of the Skystar corporate website at http://www.skystarbio-pharmaceutical.com or http://www.investorcalendar.com. Telephone access to the conference call will be available in North America by dialing [phone] or internationally by dialing [phone].

An audio replay of the conference call will be available approximately two hours following the conclusion of the call and for the following 30 day period. To access the replay in North America, dial [phone], or when calling internationally, dial [phone], using replay account code # 286 and conference ID # 369346. An archived replay of the conference webcast will also be available on the investor relations section of the Skystar Corporate website at http://www.skystarbio-pharmaceutical.com.

To be added to the Company's email distribution for future news releases, please send your request to [e-mail].

[Bob Stocks]

When they set a date for filing

[vantillian]

wow when does the bleeding stop here for SKBI

[viking86]

R&R Webcast of SKBI presentation Sep 13, 2010:

http://www.wsw.com/webcast/rrshq18/skbi/

[bUrRpPPP!]

Just on watch for now.....eom

[mlkrborn]

$7.01 at intra-day's low .. cheaper?

[mlkrborn]

VERY COOL SPACE DESIGN UNDER YOUR NAME/ how do you get it? We seem to be under the influence of mercury now? Wondering why cANT POUND SHORT pricks?
hehe.
GL

[mlkrborn]

NEW YORK (TheStreet) -- Two China pharmaceutical stocks China Sky One Medical(CSKI) and Skystar Bio-Pharmaceuticals(SKBI) reported robust earnings for the second quarter ended June 30. The stocks gained 4.2% and 11.5%, respectively, on the day the results were announced. Surprisingly, since then, China Sky One Medical has shed 12.8%, while Skystar has declined 16%. As there were no unfavorable developments that took place within these companies, one could imagine that investors preferred exiting the stocks on a rally.
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Market Activity

*
Pfizer Inc.| PFE
DOWN
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Merck & Co Inc| MRK
UP
*
Novartis Inc| NVS
UP

This decline compares to the 5% drop of the S&P 500, a 4% decrease in Bank of New York (BNY) China ADR Index, and a 3% fall on the NYSE Arca China Index during the same period. Both BNY and Arca China Index track the performance of China ADRs listed on the U.S. exchange.

The drop in stock prices offers investors an attractive buying opportunity. Moreover, these stocks seem to be relatively undervalued as they are trading at PEs of 4.27 and 4.47, respectively, lower than peers such as Pfizer(PFE), Merck(MRK) and Novartis AG,(NVS), which are trading at PEs of 12.88, 8.29 and 12.50, respectively.

China's pharmaceutical market, currently the sixth-largest globally, is valued at more than $25 billion and is expected to rank third by 2011, based on the IMS Health estimates. According to a report by Pharmaceutical Drug Manufacturers, China's pharmaceutical market is expected to grow at more than 20% annually, contributing 21% to overall global growth through 2013.

During the second quarter, China Sky One Medical reported adjusted earnings of 60 cents per share, topping analysts' estimates of 53 cents per share. Revenue grew 26.7% year-over-year to $40.76 million from $32.18 million. The company does not have any debt obligations. It did not provide an update on its FY 2010 guidance as it is currently in contract renewal discussions with a few distributors.

On August 31, Global Hunter Securities maintained a buy rating on the stock, lowering its price estimates from $20 to $15 on concerns that the negotiations with distributors may not necessarily yield positive results.

However, the company has already been addressing this issue by training a professional team to better co-operate with its distributors. It is also creating new policies and incentives to encourage better performance by the distributors.

Skystar Bio-Pharmaceuticals, on the other hand, reported earnings of 33 cents per share as opposed to a loss of 3 cents per share a year ago. Earnings more than doubled from the previous quarter. Analysts expected the company to report earnings of 29 cents per share.

Revenue soared 32% year-over-year to $8.26 million. For the full year, the company reaffirmed its revenue guidance of $45.5 million to $47.5 million. On August 23, Rodman & Renshaw reiterated a market outperform rating to the stock with a price target of $15, implying a 56% upside over the current levels.

[mlkrborn]

SKBI $6? 52 weeks low level.
http://www.thestreet.com/quote/SKBI.html

[bUrRpPPP!]

SKBI withdraws S1 registration..Should be a solid move up monday as people avg down and shorty has to cover...maybe a buck or 2... http://www.sec.gov/Archives/edgar/data/1076939/000114420410035204/v189028_rw.htm

[ihtblr]

Incessant dilution and poor cash flow are the "red-flags" for any (especially from China) small company like this one. These guys issue a "hyper-growth" PRs followed by dilution.

In these times I would move my money (even at a loss) to quality names like CCME, CHBT, CHOP, CAST.


Stay away from SKBI.

[kuwlness]

Skystar Commences Testing on Two Additional New Product Dosage Forms to Further Expand the Company's Product Lines

http://ih.advfn.com/p.php?pid=nmona&article=42781891&symbol=SKBI

[viking86]

Incredible value here, almost at book value. Forward PE 3.6. How low can this go?

[kuwlness]

Thx Bob, I dont see us going much lower than $7.75 especially after that last earnings report ... but always keep funds just in case pandemonium happens.

[Bob Stocks]

Nice adds...hopefully you still have some powder in case it goes lower....i'm sure you do.

Take care,


Bob

[kuwlness]

Looks cheap again, added a few K today.

[tiger3]

Pump & dump.Did you hold a stock more than one day.Just a couple of hours average i believe.

[bUrRpPPP!]

SKBI Chart Grabbed a bunch @ $9.59.....will add if it falls further...ridiculous cheap here....