Revenues generated from storage fees increased to RMB30.3 million ($4.8 million), up 22.7% from RMB24.7 million in the prior year period. In light of the significant increase in new subscribers, revenue from storage fees accounted for a lesser of 23.6% of total revenues, compared to 25.1% in the prior year period.
Revenues generated from processing fees were RMB98.2 million ($15.6 million), up 33.2% from RMB73.7 million in the prior year period, reflecting 18,491 new subscriber sign-ups this quarter, a 33.0% annual increase and a 12.3% sequential increase in new subscriber sign-ups. Revenues generated from processing fees accounted for 76.4% of total revenues, compared to 74.9% in the prior year period.
GROSS PROFIT. Gross profit for the second quarter of fiscal 2013 increased by 32.3% to RMB101.4 million ($16.1 million) from RMB76.7 million in the prior year period, benefiting from economies of scale. Gross margin was 78.9%, compared to 77.9% in the prior year period.
OPERATING INCOME. Operating income for the second quarter increased at a slower pace to RMB47.0 million ($7.5 million) compared to RMB37.7 million in the prior year period. Operating margin was slightly down to 36.6%, compared to 38.3% in the prior year period, as a result of an increase in management and staff related costs, as well as an increase in depreciation expenses as we begin to depreciate part of the new facility in Guangdong. Depreciation and amortization expenses for the second quarter were RMB8.3 million ($1.3 million), compared to RMB7.1 million in the prior year period.
|SOURCE China Cord Blood Corporation|
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