China Sky One Medical Updates Financial Guidance (CSKI)

China Sky One Medical, Inc. CSKI today announced that its fiscal year 2010 revenue and adjusted net income, excluding the impact of derivative warrant liabilities, are expected to be lower than its previous financial guidance as a result of the termination of several major distributor relationships. Specifically, the Company has lowered its 2010 revenue guidance from a prior range of $160 million and $164 million to between $128 million and $136 million. The Company also has lowered its 2010 adjusted net income guidance, excluding the impact of derivative warrant liabilities, from between $40 million and $41 million to between $26 million and $31 million.