Full Year Fiscal 2013 Financial ResultsFor the full year fiscal year 2013, total revenues increased by 38.3% to RMB526.1 million ($84.7 million) from RMB380.5 million in the prior year. The increase was largely attributable to the significant increase in new subscribers during the "Dragon Year" baby boom and the expansion of the Company's accumulated subscriber base to 311,982 subscribers. Similarly, revenues related to processing fees and storage fees grew by 40.9% and 30.8%, respectively. Gross profit increased by 42.8% to RMB419.5 million ($67.5 million) from RMB293.8 million in the prior year, and operating income increased by 55.2% to RMB209.3 million ($33.7 million) from RMB134.8 million in the prior year. Interest expense increased to RMB70.1 million ($11.3 million) from RMB3.3 million in the prior year, and the increase was largely attributable to the convertible notes issuances during fiscal 2013. As such, income before income tax grew 4.3% to RMB158.2 million ($25.5 million), from RMB151.6 million in the prior year. Income tax expense was lower in fiscal 2012 because the Company recorded a tax write-back due to the High and New Technology Enterprise tax status of both Beijing and Guangdong subsidiaries during fiscal 2012, no such write-back was recorded during fiscal 2013. Combining the effects of higher interest expense and lack of tax write-back in fiscal 2013, net income attributable to the Company for the fiscal 2013 amounted to RMB112.4 million ($18.1 million). Basic and diluted earnings per share attributable to ordinary shares were RMB1.49 ($0.24). The calculation of basic and diluted earnings per share has taken into consideration the effect of the
|SOURCE China Cord Blood Corporation|
Copyright©2012 PR Newswire.
All rights reserved