SOURCE: Skystar Bio-Pharmaceutical

Skystar Bio-Pharmaceutical

March 31, 2011 09:49 ET

Skystar Files Extension for Fiscal 2010 Form 10K Filing

Skystar Reiterates Full Year Revenue Guidance Range of $45.5 Million to $47.5 Million

XI'AN, CHINA--(Marketwire - March 31, 2011) - 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 that it will file with the United States Securities and Exchange Commission, Form 12b-25 Notification of Late Filing for its Annual Report on Form 10-K for the year ended December 31, 2010. The Form 12b-25 will allow the Company an additional 15 calendar days to file the Form 10-K which is otherwise due on March 31, 2011.

The postponement in filing is due to delays in compiling information for the preparation of the financial statements. The Company fully expects to be able to file well within the additional time allowed by the Form 12b-25.

Information regarding Skystar's Form 10-K filing and fiscal year end conference call date and time will be provided in a forthcoming news release.

Additionally, the Company expects to meet or exceed top-line revenue guidance range of $45.5 million to $47.5 million for the full fiscal year.

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 220 products. Skystar has formed strategic sales distribution networks covering 29 provinces throughout China. For additional information, please visit http://www.skystarbio-pharmaceutical.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

Contact Information

  • Contacts:

    Skystar Bio-Pharmaceutical Company
    Scott Cramer
    Director - Director and U.S. Representative
    (407) 645-4433

    Grayling

    Investor Relations
    Christopher Chu
    (646) 284-9426
    christopher.chu@grayling.com