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

er last year. Earnings per diluted share were $0.03, in line with the same period last year.

Subsequent to the quarter, the company signed and closed two new TCM raw material contracts with Shenzhen HongYangSiHai Trading Company and Harbin QiHuiCheng Trading Company for a combined value of more than $350,000. 

"Revenue for the quarter was in line with last year with growth in the yew trees segment offset the seasonal slowdown of TCM raw materials," said Mr. Zhiguo Wang, Chairman and Chief Executive Officer of Yew Bio-Pharm Group. "We are pleased with the performance from our yew tree regional sales agent, Shenzhen DongFangShangCheng Trading Company whom we signed a one year contract, which contributed to our improvement in this segment.

"To accelerate our growth we are working to expand and diversify our customer base, and the two new TCM raw materials contracts are indicative of such progress. In addition, to improve profitability we implemented a price increase for our TCM raw materials effective August, which is expected to have a positive impact on both revenues and gross profit through the remainder of 2014 and beyond," Wang added.

Six Month 2014 Financial ResultsSix Months Ended June 30,Percentage20142013ChangeRevenues:TCM Raw Materials$2,194,785$2,166,4911.3%Yew Trees1,836,7431,653,60711.1%Handicrafts100,01685,20817.4%Total Revenues$4,131,544$3,905,3065.8 %Total revenues for the first six months of 2014 increased to $4.1 million from $3.9 million a year ago. Sales of TCM r
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SOURCE Yew Bio-Pharm Group, Inc.
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