fiscal 2008. Gross margin was 26.76%, versus 23.52% achieved in the six months
ended March 31, 2009. The increase in gross margin was mainly due to the unit
product cost decrease as a result of better economies of scale, and the
improvement of the Company's cost control, equipment technical improvement and
lean production management that increased production efficiency and reduced
production waste; and the decrease of material purchasing price as the Company
combined individual purchases by each subsidiary into larger scale orders to
create more bargaining power.
Operating Expenses: Selling, general and administrative expenses increased
by 20.19% to $8.32 million during the six months ended March 31, 2009, from
$6.93 million during the six months ended March 31, 2008. The increase in
operating expenses was mainly due to the increased provision for decline in
value of inventory, increase in research and development expenses, increase in
salary and welfare for the management and administrative staff, and increase
in related administrative expenses such as depreciation and amortization for
Winner Medical (Huanggang) Co., Ltd.
Operating Income: During the period, operating income was $3.84 million,
an increase of 122.58% compared with $1.73 million of the same period of 2008.
The increase was mainly attributed to decreased export transportation fees,
economies of scale related to higher sales revenue, and improved production
management to reduce manufacture cost.
Income Taxes: The income tax provision for the six months ended March 31,
2009 was $720,000, up from -$159,000 for the same period in fiscal 2008. The
increase in tax provision was mainly due to a change in tax rate for the
Company's subsidiaries in China as a result of the Chinese Income Tax reform
that came into effect on January 1, 2008, and the write off for over-provision
of income taxes in the second fiscal quarter of 2008.
Page: 1 2 3 4 5 6 7 8 9 10 11 Related medicine news :1
|SOURCE Winner Medical Group Inc.|
Copyright©2009 PR Newswire.
All rights reserved
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