The Company's portfolio of private label products included 2,019 products as of December 31, 2012. Sales of private label products represented approximately 24.7% of the revenue and 34.1% of the gross profit for the fourth quarter of 2012.
Sales, marketing and other operating expenses as a percentage of revenue in the fourth quarter of 2012 decreased to 37.6%, compared to 38.0% in the same period of 2011. This decrease from the same period of last year was primarily due to the increase in same store sales.
General and administrative expenses as a percentage of revenue in the fourth quarter of 2012 was 3.4%, compared to 5.4% for the same period of 2011. The decrease was mainly due to the facts that the Company continued to implement cost management across the entire organization and the Company has written off certain long-aged payables due to those discontinued suppliers.
Impairment loss of RMB4.7 million (US$0.8 million) was recognized in the fourth quarter of 2012, which represents the reduction of the carrying amount of the property and equipment of certain underperforming stores. Impairment loss recognized in the fourth quarter of 2011 was RMB13.2 million.
Income from operations in the fourth quarter of 2012 was RMB30.2 million (US$4.9 million), compared to RMB15.6 million in the same period of 2011.
Interest income for the fourth quarter of 2012 was RMB3.5 million (US$0.6 million), compared to RMB6.6 million in the same period of 2011. Interest income decreased as a result of reduced cash balance after distribution of a special dividend in the second quarter of 2012.
Equity in income of an equity method investee was RMB1.3 million (US$0.2 million), compared to RMB1.6 million in the same quarter of 2011. The decrease was mainly due to weak performance of JZJ in the
|SOURCE China Nepstar Chain Drugstore Ltd.|
Copyright©2012 PR Newswire.
All rights reserved