CHANGCHUN, China and LOS ANGELES, April 23 /PRNewswire-Asia-FirstCall/ -- - Fourth Quarter 2008 Revenue Increased 28.6% to $14.1 Million, with Net Income was $0.9 Million and Diluted EPS of $.03 - 2008 Revenues Increased 23.5% to $59.1 Million vs. 2007 - 2008 Gross Profit Margin Improved 340 Basis Points to 20.1% - 2008 Net Income Increased 13.7% to $4.1 Million with Diluted EPS of $0.13 - 2008 Cash Flow from Operations was $5.9 million
China Yongxin Pharmaceuticals, Inc. ("China Yongxin Pharmaceuticals" or "the Company") (OTC Bulletin Board: CYXN), a leading manufacturer, distributor and retailer of pharmaceuticals in Northeastern China, today announced Annual 2008 financial results ended December 31, 2008.
Fourth Quarter Ending December 31, 2008 Financial Results
Yongxin announced record revenue for its fourth quarter of $14.1 million, representing a 28.6% increase from $11 million recorded in the fourth quarter of fiscal 2007. Growth was driven by increased sales from both its wholesale distribution and retail business segment.
Gross profit in the fourth quarter 2008 was $3.5 million, a 122.8% increase from $1.6 million in the fourth quarter of 2007. Gross margins were 24.6% in the fourth quarter of 2008, compared to 14.2% in the fourth quarter of 2007.
Operating expenses were approximately $2 million, representing a 112.6% increase from approximately $1 million in the fourth quarter of 2007, and were directly related to increased marketing and selling expenses. Income from operations was $1.4 million, an increase of 138.8% from $0.6 million in the same period of 2007. Operating margins were 10.1% compared to 5.4%.
Net income for the quarter was $0.9 million, down from net income of $1.3
million in the same period a year ago. Income taxes were approximately
$346,053 and 0 representing an effective
|SOURCE China Yongxin Pharmaceuticals, Inc.|
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