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China Cord Blood Corporation Reports Financial Results for the First Quarter of Fiscal 2014
Date:8/26/2013

HONG KONG, Aug. 26, 2013 /PRNewswire-FirstCall/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced its preliminary unaudited financial results for the first quarter of fiscal year 2014 ended June 30, 2013.

First Quarter of Fiscal 2014 Highlights

  • Revenues for the first quarter of fiscal 2014 increased by 11.6% to RMB128.7 million ($21.0 million) from RMB115.3 million in the prior year period.
  • First quarter of fiscal 2014 added 15,260 new subscribers.
  • Accumulated subscriber base amounted to 327,242, up 27.7% year-over-year.
  • Gross profit increased by 14.6% to RMB104.2 million ($17.0 million) from RMB90.9 million in the prior year period.
  • Gross margin was 81.0%, an increase from 78.9% in the prior year period.
  • With higher sales and marketing spending, operating income increased by 3.3% to RMB45.9 million ($7.5 million) from RMB44.4 million in the prior year period.
  • Interest expense amounted to RMB14.8 million ($2.4 million), compared to RMB10.2 million in the prior year period.
  • The Company recorded dividend income of RMB8.7 million ($1.4 million).
  • Net income attributable to the Company's shareholders was RMB32.9 million ($5.4 million), increasing 5.8% compared to RMB31.1 million in the prior year period.
  • Operating cash inflow for the quarter amounted to RMB108.7 million ($17.7 million).
  • "We kicked off fiscal 2014 with an encouraging quarter as we managed to successfully add another 15,260 new subscribers to our subscriber base despite the seasonality effect and our upward pricing adjustments implemented during the quarter," stated Ms. Ting Zheng, Chief Executive Officer of CCBC.  "A comprehensive net
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