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Basic and diluted net income per share were $0.10 and $0.09, respectively, for the third quarter of fiscal 2012 versus $0.14 for each for the same quarter of the previous fiscal year.
First Nine Months of Fiscal 2012 Financial Performance Revenues in the nine months ended June 30, 2012 increased by 20.6% to $130.8 million from $108.5 million in the same period of the previous fiscal year. The increase was mainly attributable to significant continuing demand from existing and new customers in Europe and the robust expansion of sales of medical products and PurCotton® products in China.
Cost of sales increased by 24.6% to $97.6 million in the nine months ended June 30, 2012 from $78.3 million in the same period of the previous fiscal year. The cost of sales as a percentage of revenue was 74.6% and 72.2% for the nine months ended June 30, 2012 and 2011, respectively.
Gross profit increased by 10.3% to $33.2 million in the nine months ended June 30, 2012 from $30.1 million in the same period of the previous fiscal year. Gross margin decreased to 25.4% from 27.8% in the same period of the previous fiscal year.
Government subsidies decreased to approximately $416,000 in the nine months ended June 30, 2012 from $1.3 million in the same period of the previous fiscal year.
Gain from commodity derivatives was approximately $167,000 on cotton futures products in the nine months ended June 30, 2012 compared to a loss of $1.7 million in the same period of the previous fiscal year.
Foreign exchange losses were approximately $83,000 in the nine months ended June 30, 2012 compared to $415,000 for the same period of the previous fiscal year.
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| SOURCE Winner Medical Group Inc. Copyright©2012 PR Newswire. All rights reserved |