HARBIN, China, May 15 /Xinhua-PRNewswire-FirstCall/ -- China Yingxia
International, Inc. (OTC Bulletin Board: CYXI) ("China Yingxia" or "the
Company"), a leading provider in the nutraceutical industry engaged in the
development, manufacture and distribution of organic nutritional food
products, supplements, and personal care products in the People's Republic
of China ("PRC"), today reported its financial results for the first
quarter ended March 31, 2008.
First Quarter 2008 Highlights
-- Net revenues increased 27.38% year-over-year to $2.1 million
-- Gross profit increased 48.34% year-over-year to $1.29 million
-- Gross margin improved to 60.95% from 52.34% for the same period last
-- Net income was $0.7 million, or $0.01 per diluted share, up 29.25%
from same period last year
-- Established new subsidiary in India, Q1 2008
-- Acquired Chichi Wang companies, April 2008
First Quarter Fiscal Year 2008 Results
Revenue for the three months ended March 31, 2008, was $2.1 million, an increase of 27.38% from $1.6 million for the same period in 2007. The increase in revenue was a direct result of increasing the number of franchisee owned retail outlets, especially at the county level, and the introduction of new products in its nutritional foods line. The Company added 43 county level franchisees during the first quarter of 2008. The new franchisees contributed approximately $180,112 to first quarter revenues. In addition, revenue generated from the four products introduced in its nutritional foods line such as herbal black fungus soup and crackers, fruit jam, soybean oil and honey, contributed 26.83% of revenues in its nutritional foods product line, representing 9.46% of the Company's total revenues.
Gross profit for the first quarter of 2008 totaled $1.29 million, up
48.34% compared with $0.87 million for the same period last year. Gross
|SOURCE China Yingxia International, Inc.|
Copyright©2008 PR Newswire.
All rights reserved