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Yew Bio-Pharm Group Reports 2014 Second Quarter Financial Results
Date:8/14/2014

HARBIN, China, Aug. 14, 2014 /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 reported financial results for the three- and six-months ended June 30, 2014.

2014 Second Quarter ResultsThree Months Ended June 30,Percentage20142013ChangeRevenues:TCM Raw Materials$1,150,805$1,270,330(9.4)%Yew Trees872,437796,6539.5%Handicrafts40,32539,3832.4%Total Revenues$2,063,567$2,106,366(2.0)%Total revenues for the second quarter of 2014 were $2.06 million, compared with $2.11 million a year ago.

Sales of TCM raw materials amounted to 55.8% of total revenues; sales of yew trees amounted to 42.3% of total revenues; and sales of handicrafts made up the remaining 1.9%.

For the 2014 second quarter, gross profit was $1.64 million, or 79.4% of total revenues, compared with $1.60 million, or 76.0% of total revenues for the comparable 2013 quarter. The increase in the gross profit margin was primarily attributable to higher gross profit margin in the TCM raw materials segment.

Operating expenses decreased 20.5% to $221,000 for the quarter ended June 30, 2014, from $278,000 in the year-ago quarter. The decrease was primarily related to overall cost reduction and operational efficiency.

Net income for the three-months ended June 30, 2014 increased 7.2% to $1.4 million from $1.3 million in the same quart
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SOURCE Yew Bio-Pharm Group, Inc.
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