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China Cord Blood Corporation Reports Financial Results for the Third Quarter and First Nine Months of Fiscal 2012

Published: Feb 28, 2012

HONG KONG, Feb. 27, 2012 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced its preliminary unaudited financial results for the third quarter and first nine months of fiscal year 2012 ended December 31, 2011.

Third Quarter of Fiscal 2012 Highlights

  • Revenues for the third quarter of fiscal 2012 increased by 4.8% to RMB94.8 million ($15.1 million) from RMB90.5 million in the prior year period.
  • New subscriber sign-ups and accumulated subscriber base were 12,861 and 225,418, respectively.
  • Gross profit increased by 5.2% to RMB73.1 million ($11.6 million) from RMB69.5 million for the prior year period.
  • Operating profit decreased by 9.5% to RMB31.5 million ($5.0 million) from RMB34.8 million in the prior year period, as a result of enhanced sales initiatives.
  • Net income attributable to shareholders increased by 52.5% to RMB39.5 million ($6.3 million), from RMB25.9 million in the prior year period. This includes a tax benefit of RMB7.8 million ($1.2 million) from the Company's Beijing subsidiary and an exchange rate gain of RMB3.5 million ($0.6 million).

First Nine Months of Fiscal 2012 Highlights

  • Revenues for the first nine months of fiscal 2012 increased by 14.6% to RMB280.7 million ($44.6 million) from RMB244.9 million in the prior year period.
  • New subscriber sign-ups reached 39,588.
  • Gross profit increased by 15.9% to RMB217.4 million ($34.5 million) from RMB187.5 million in the prior year period.
  • Operating profit increased by 14.4% to RMB100.0 million ($15.9 million) from RMB87.4 million in the prior year period.
  • Net income attributable to shareholders increased by 57.0% to RMB102.7 million ($16.3 million) from RMB65.4 million in the prior year period.

"We are pleased with the solid performance in this quarter as new subscriber numbers in Beijing and Guangdong remain on track towards our full year target under the newly adopted strategy," stated Ms. Zheng, Chairperson and Chief Executive Officer of CCBC. "As we continue to recruit new subscribers under the more favorable payment option, we are essentially strengthening the Company's cash generating capabilities. The improved cash position will enable us to apply surplus cash to possibly expand our operation base and increase shareholder returns through share buy-back purchases. We have also grown our operating cash flow significantly in the first nine months, which already exceeded the operating cashflow for the full year of fiscal 2011 by a significant margin. Even with our Zhejiang operation at its start up phase, we are proud to note that both our Beijing and Guangdong operations have reported tremendous financial and operational successes."

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