Revenues generated from processing fees were RMB115.5 million ($18.6 million), up 67.1% from RMB69.1 million in the prior year period, reflecting a record 21,218 new subscriber sign-ups this quarter, representing a 65.0% year-over-year increase and a 14.7% quarter-over-quarter increase. Revenues generated from processing fees accounted for 77.4% of total revenues, compared to 72.9% in the prior year period.
GROSS PROFIT. Gross profit for the third quarter of fiscal 2013 increased by 65.6% to RMB121.1 million ($19.4 million) from RMB73.1 million in the prior year period, benefiting from economies of scale and better cost control, which helped to offset rising direct costs. Gross margin expanded to 81.1%, compared to 77.1% in the prior year period.
OPERATING INCOME. Operating income for the third quarter increased 112.9% to RMB67.1 million ($10.8 million) compared to RMB31.5 million in the prior year period. Operating margin also rose to 45.0%, compared to 33.2% in the prior year period, as a result of increased revenue and higher efficiencies associated with economies of scale. Depreciation and amortization expenses for the third quarter were RMB8.4 million ($1.3 million), compared to RMB7.4 million in the prior year period.
Research and Development Expenses. Research and development expenses remained stable at RMB2.1 million ($0.3 million) compared to RMB2.0 million in the prior year period, as a reflection of the Company's continuous efforts to enhance operations through technology advancement.
Sales and Marketing Expenses. Sales and marketing expenses increased by 46.7% to RMB24.8 million ($4.0 million) from RMB16.9 million in the prior year period. This was driven by the Company's continuous investment in marketing across the Be
SOURCE China Cord Blood Corporation
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