NEW YORK, Feb. 18 /PRNewswire-Asia-FirstCall/ -- China YCT International Group Inc., (OTC Bulletin Board: CYIG) ("China YCT" or "the Company"), a leading company engaged in the business of developing, manufacturing and marketing gingko-based products through its wholly owned subsidiary, Shandong Spring Pharmaceutical Co. Ltd, today announced its fiscal 2009 third quarter results for the period ended December 31, 2008.
Third Quarter Highlights -- Revenue increased 60.4% period-over-period to $8.6 million -- Gross profit was $4.8 million, up 61.9% versus the third quarter 2008 -- Income from operations grew to $3.0 million, an increase of 91.6% versus the third quarter 2008 -- Net Income was $2.2 million, representing an increase of 130.3% period- over period
"Through the third quarter fiscal 2009, we continued to benefit from the ongoing trend of growth and expanding acceptance of our products. During the first nine months of fiscal year 2009, April 1 2008 through December 31, 2008, the Company kept experiencing the emergence and development of Shandong Spring Pharmaceutical as a marketing force. Having commenced revenue-producing operations only in January 2007, we realized $981,849 in revenue for the year ended March 31, 2007," commented Mr. Yan Tinghe, China YCT's Chairman and CEO, "During the first nine months of fiscal year 2009, which ended on December 31, 2008, we realized $21,973,438 in revenue."
Revenue for the third quarter of fiscal 2009 increased to $8.6 million, up
60.4% from $5.3 million for the third quarter of fiscal 2008. Overall, higher
revenues were primarily attributable to increasing sales volume and income
from our core business segments. During the past 2 years of operations, we
have a total of 38 products each contributed to revenue, including health care
supplements, cosmetics and toiletries and daily necessities, and no si
|SOURCE China YCT International Group Inc.|
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