HARBIN, China, Aug. 13, 2013 /PRNewswire/ -- Yew Bio-Pharm Group, Inc. ("Yew Bio" or the "Company") (OTCBB: YEWB), a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine and products made from yew timber in China, today announced financial results for the second quarter ended June 30, 2013.
Second-Quarter Financial and Operating Highlights:
Total revenues were $2.1 million, a 10.5% increase from $1.9 million in the year-ago quarter
Revenue from the sale of yew trees was $0.8 million, an increase of 18.3% from the year-ago quarter
Gross profit was $1.6 million, in line with the year-ago quarter. The gross margin was 76.0%, as compared with 84.4% in the year-ago quarter
Operating profit was $1.3 million, as compared to $1.5 million in the year-ago quarter
Net income was $1.3 million, or $0.03 per diluted share, as compared to $1.5 million, or $0.03 per diluted share, in the year-ago quarter
"We are pleased to report a solid increase in revenues driven by sales growth in all our product categories, which offset higher expenses in the second quarter of 2013," commented Mr. Zhiguo Wang, Chairman and Chief Executive Officer of Yew Bio. "We are building upon the recent approval by the Financial Industry Regulatory Authority (FINRA) for our stock to trade on the OTC Bulletin Board and the eligibility of our shares by the Depository Trust Corporation (DTC) for electronic trading by investors, and we look forward to sharing further details of our business with our shareholders in the future."Second-Quarter 2013 Financial ResultsThree Months Ended June 30,Six Months Ended June 30,2013201220132012Revenues:TCM Raw Materials$1,270,330$1,225,360$2,166,491$1,966,643Yew Trees796,653673,5651,653,6071,457,088Handicrafts39,3836,49685,20836,035Total Revenues$2,106,366$1,905,421$3,905,306$3,459,766Total revenues in the second quarter of 2013 were $2.1 milli
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|SOURCE Yew Bio-Pharm Group, Inc.|
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