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Ossen Innovation Co., Ltd. (NASDAQ:OSN)

Wednesday, September 29, 2010

Year Ended December 31,
	2009 (Audited)			2008 (Audited)			2007 (Unaudited)			2006 (Unaudited)			2005 (Unaudited)

Revenues	$	101,087,796		$	82,742,310		$	71,909,873		$	59,547,454			17,195,347
Cost of goods sold		87,659,925			70,532,733			63,340,890			56,853,946			15,216,951
Gross profit		13,427,871			12,209,577			8,568,983			2,693,508			1,978,395
Selling and distribution expenses		503,724			4,326,491			3,662,373			1,024,209			219,650
General and administrative expenses		1,143,672			1,316,606			571,498			340,847			255,270
Total Operating Expenses		1,647,396			5,643,097			4,288,796			1,410,056			501,920

Income from operations		11,780,475			6,566,480			4,280,187			1,283,451			1,476,475
Interest expenses, net		(1,496,712	)		(1,891,671	)		(1,189,027	)		(359,130	)		(22,920	)
Other income, net		183,495			380,766			278,924			211,875			56,362
Income before income taxes		10,467,258			5,055,575			3,370,084			1,136,196			1,509,917
Income taxes		(740,053	)		(291,520	)		(233,674	)		-			-
Net income		9,727,205			4,764,055			3,136,410			1,136,196			1,509,917
Less: Net Income
Attributable to non-controlling interest		1,714,670			809,437			-			-			-
Net income attributable to controlling interest		8,012,535			3,954,618			3,136,410			1,136,196			1,509,917
Other comprehensive income
Foreign currency translation gain, net of tax		31,146			420,883			66,913			360,384			37,135
Total Other comprehensive income, net of tax		31,146			420,883			66,913			360,384			37,135
Comprehensive Income	$	8,043,681		$	4,375,501		$	3,203,323			1,496,580			1,547,052