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China-Biotics, Inc. Reports Record Quarterly and Annual Revenue Growth for Fiscal Year 2010
Date:6/13/2010

hange as bulk sales rose.

General and administrative (G&A) expenses amounted to $1.2 million, compared with $1.1 million in the previous year. The slight increase in G&A expenses were mainly due to staff and administrative costs associated with the new bulk additive plant. G&A expenses as a percentage of revenue decreased from 7.2% in the fourth quarter of fiscal year 2009 to 4.8% for the fourth quarter of fiscal year 2010.

Research and development (R&D) expenses were $1.4 million, a 52.4% increase from $0.9 million in the fourth quarter of fiscal year 2009. The increase in R&D expenses was mainly due to additional research costs related to the development and launching of new products. R&D expenses as a percentage of revenue was 5.4%, compared with 5.8% in the fourth quarter of fiscal year 2009.

Selling expenses for the fourth quarter of fiscal year 2010 were $4.3 million, compared with $3.0 million in fourth quarter in fiscal year 2009. This increase in selling expenses was primarily caused by the increase of overall sales. Selling expenses as a percentage of revenue decreased from 19.6% in the fourth quarter of fiscal year 2009 to 16.9% for the fourth quarter of fiscal year 2010.

Total operating expenses for the fourth quarter of fiscal year 2010 were $6.9 million compared with $4.9 million in the fourth quarter of fiscal year 2009. The increase was mainly due to higher selling and general and administrative expenses, as well as a large swing in Other Income from a gain to a loss due to changes in exchange values. SG&A expenses as a percentage of revenue
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SOURCE China-Biotics, Inc.
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