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China Yingxia International, Inc. Announces Record Fourth Quarter and Year 2007 Results
Date:3/31/2008

SG&A amounted to $2.92 million or 18.35% of total sales in 2007 compared to $1.74 million or 20.7% of total sales in 2006. Normalizing for the one time $0.85 million fee of going public, our SG&A expense for 2006 becomes $0.88 million or 10.48% of total sales. The year-over-year increase is primarily due to higher costs related to marketing our brand and products as a result of increased sales. Additionally, higher consulting, legal, directors' and officers' insurance and auditing expenses totaling approximately $0.43 million contributed to the increase in SG&A expenses.

We recorded an allowance for doubtful accounts in the amount of $0.34 million. "Although we have already collected these loans," Ms. Jiao stated, "we decided to take a write-down, because they were not collected at year end. It is very important to us that investors have confidence in the conservatism of our accounting."

Net Income for 2007 was $6.12 million compared to $5.34 million for 2006.

Net income for 2006 includes a one time income tax benefit we received as a result of achieving WFOE status. The tax benefit represented $3.00 million or 56.19% of our total net income for 2006.

Excluding the income tax provision and normalizing for the going public expense, net income in 2006 was $3.18 million. Using this net income figure for 2006 and net income of $6.12 million in 2007, we achieved a 92.45% year- over-year growth. This increase in net income was mainly due to sales to new franchisees and new products.

Diluted income per share for 2007 was $0.15.

Outlook

Based on Company's projections, expected 2008 revenue growth is in the range of approximately 30-35%, gross margins growth in the range of 27-32%, and approximately 45-50% growth in net income for the full year of 2008.

"In 2008, we expect strong growth in sales and net income," said Ms. Jiao. "We are excited by the initial market feedback received for two products we introduced last
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SOURCE China Yingxia International, Inc.
Copyright©2008 PR Newswire.
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