Despite the ongoing marketing effort, management continued to tightly monitor sales and marketing expense. Sales and marketing expense as a percentage of net revenue declined from 15.1% last year to 14.8% for the quarter ended September 30, 2009. Total sales and marketing expense for the quarter ended September 30, 2009 was RMB9.5 million (US$1.4 million), an increase of 28.3% from RMB7.4 million for the same period last year.
General and Administrative Expense
To cope with the rising demand and better serve our existing markets, new storage facilities were constructed which boosted total capacity more than six fold, and as a result, in conjunction with work force expansion, total administrative expense for the quarter ended September 30, 2009 increased to RMB12.7 million (US$1.9 million) compared to RMB5.1 million for the same period last year.
Operating Income
Operating income for the quarter ended September 30, 2009 was RMB24.1 million (US$3.5 million) compared to RMB24.8 million for the same period last year because the increase in net revenue was offset by the increase in administrative expense. Operating margin for the quarter ended September 30, 2009 was 37.8%.
Earnings Before Interest, Taxes, Depreciation and Amortization ("non-GAAP EBITDA")
Non-GAAP EBITDA for the quarter ended September 30, 2009 was RMB28.9 million (US$4.2 million), a slight increase of 8.9% year-over-year, translating into a non-GAAP EBITDA margin of 45.3%.
Net Income Attributable To China Cord Blood Corporation Shareholders
Net income attributable to shareholders for the quarter ended September 30,
2009 increased to RMB17.6 million (US$2.6 million), up from RMB5.8 million for
the same period of 2008. Net income attributable to shareholders margin for
the quarter ended September 30, 2009 was 27.6%, up from 11.8%. Basic earnings
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