Total operating expenses for the three months ended, March 31, 2008 were $0.5 million, up 54.87% from the same period in 2007. The increase in operating expenses was primarily attributable to fees associated with maintaining legal, accounting, and investor relations services.
Operating income increased 44.6% to $0.8 million in first quarter 2008, representing an operating margin of 37.73%, compared to $0.55 million and 33.24% for the same period 2007.
Net income for first quarter 2008 was $0.7 million, or $0.01 per fully diluted share, up 29.25% from net income of $0.55 million, in first quarter 2008. Net margins increased slightly to 33.7% during the first quarter of 2008 from 33.2% in the same period 2007.
"During the first quarter 2008 we experienced increase in revenues and net income driven mostly by our ability to increase sales from new product introductions and the opening of 43 additional county level franchisees" said Ms. Yingxia Jiao, Chief Executive Officer of China Yingxia.
For the period ended, March 31, 2008, the Company had $2.9 million in
cash and cash equivalents, $14.62 million in working capital and a current
ratio of 26:1. Yingxia did not have any debt outstanding and had $39
million in stockholders' equity. Net cash used in operating activities
totaled $0.2 million for the three months ended March 31, 2008, largely
impacted by the increase in inventory of $3.2 million. Net cash provided by
investing activities totaled $1.5 million, mostly from the collection on
|SOURCE China Yingxia International, Inc.|
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