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China Cord Blood Corporation Reports Third Quarter and First Nine Months of Fiscal 2011 Financial Results
Date:2/28/2011

irect marketing approach has yielded very favorable results in its target markets, not only achieving a steadily growing penetration rate but also successfully reducing the sales and marketing expense as a percentage of revenue to 13.9%.  

General Administrative expense. Third quarter general administrative expenses amounted to RMB20.2 million ($3.1 million), up 21.4% year-on-year. General administrative expense as a percentage of revenue decreased to 22.4%, compared to 24.2% during the same period last year. Despite the increase in revenue, general administrative expense remained stable and comparable as an absolute amount to the last two quarters.  Moving forward, the Company believes cost control efforts could lead to further margin expansion.  

NET INCOME ATTRIBUTABLE TO SHAREHOLDERS. Third quarter net income attributable to shareholders reached RMB25.9 million ($3.9 million).  Net margin for the third quarter of fiscal 2011 rose to a new record of 28.6%. Basic earnings per share for third quarter of fiscal 2011 were RMB0.36 ($0.06).

NET CASH. As of December 31, 2010, the Company had cash and cash equivalents of RMB548.0 million ($83.0 million), compared to RMB280.8 million as of March 31, 2010. As of December 31, 2010, total borrowing was RMB45.0 million ($6.8 million).

Ms. Zheng stated, "Our excellent results in the third fiscal quarter demonstrate our success stories in both Beijing and Guangdong. Following the recent formation of our new Zhejiang subsidiary, we are committed to replicating our success in Beijing and Guangdong in this new untapped Zhejiang market."

"As the exclusive cord blood banking operator in Beijing, Guangdong and Zhejiang, we have access to a market of 1.8 million newborns each year and we see significant room for growth ahead of us," Ms. Zheng further commented. "To deepen our market penetration, we will conti
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SOURCE China Cord Blood Corporation
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