China-Biotics, Inc. (CHBT)

[TrekRider]

Operating margins remain constant from FY2009 through Q1 and Q2 2010 as bulk additives % (as a % of revenues) rises

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Revenue 2009 = $54.4M
Operating Income 2009 = $21.8M (40% of revenue)
Net Income 2009 = $20.0M (36.7% of revenue)
Bulk additives (as % of revenue) in 2009 = 8.3%

http://www.sec.gov/Archives/edgar/data/1271057/000114420409037148/v153048_10k.htm

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Revenue Q1 2010 = $16.5M
Operating Income Q1 2010 = $6.83M (41.5% of revenue)
Net Income Q1 2010 = $5.8M (35% of revenue)
Bulk additives (as % of revenue) in Q1 2010 = 23.2%

http://www.sec.gov/Archives/edgar/data/1271057/000114420409043661/v157311_10q.htm

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~~~ Excluding a book loss related to the revaluation of convertible notes~~~
Revenue Q2 2010 = $18.2M
Operating Income Q2 2010 = $7.5M (41.1% of revenue)
Net Income Q2 2010 = $5.9M (32.4% of revenue)
Bulk additives (as % of revenue) in Q2 2010 = 32%
http://www.sec.gov/Archives/edgar/data/1271057/000114420409059768/v165950_10q.htm