Gross profit was $3.2 million, or 76.9% of total revenues, compared with $2.8 million, or 72.2% of total revenues for the comparable 2013 quarter. The increase in the gross profit margin was primarily attributable to an increase in profit margin for TCM raw materials, offset by a decrease in profit margin in handicrafts.
Operating expenses decreased 30.1% to $388,000 from $556,000 for the same period last year.
Net income for the first six months of 2014 increased 23.2% to $2.8 million from $2.3 million for the same period last year. Earnings per diluted share were $0.06, compared to $0.05 for the same period last year.
At June 30, 2014 the company had approximately $230,000 in cash and $1.5 million in accounts receivables.
ABOUT YEW BIO-PHARM GROUP, INC.Yew Bio-Pharm Group, Inc., through its operating entity, Harbin Yew Science and Technology Development Co., Ltd. (HDS), is a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine (TCM) and products made from yew timber in China. Raw material from the species of yew tree that the Company grows contains taxol, and TCM containing yew raw materials has been approved as a traditional Chinese medicine in China for secondary treatment of certain cancers. The Company uses a patented, accelerated growth technology to speed the growth and maturity and commercialization of yew trees and believes that it is one of the few companies possessing a permit to sell them. To learn more, please visit http://www.yewbiopharm.com/.
SAFE HARBORThis press release forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securiti
|SOURCE Yew Bio-Pharm Group, Inc.|
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