- 3Q17 Added 19,712 New Subscribers
- 3Q17 Revenue Up 18.6% YOY to RMB200.9 Million ($28.9 Million)
- 3Q17 Operating Income ReachedRMB101.7 Million ($14.6 Million)
- Conference Call to be Held on February 27, 2017 at 8:00 a.m. ET
HONG KONG, Feb. 24, 2017 /PRNewswire/ -- 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 unaudited financial results for the third quarter and first nine months of fiscal year 2017 ended December 31, 2016.
Third Quarter of Fiscal 2017 Highlights
- Revenues for the third quarter of fiscal 2017 increased by 18.6% to RMB200.9 million ($28.9 million).
- New subscribers and accumulated subscriber base were 19,712 and 554,7421, respectively.
- Gross profit increased by 32.0% to RMB175.8 million ($25.3 million) as a result of decrease in direct costs due to the recognition of RMB16.8 million ($2.4 million) rebate after the Company rendered a consultation service related to the usage of cord blood processing devices and consumables.
- Gross margin increased to 87.5% from 78.6% in the prior year period. Excluding the effect of the rebate, gross margin for the reporting period was 79.1%.
- Operating income increased to RMB101.7 million ($14.6 million), mainly attributable to the increase in gross profit and revenue from public bank collaboration project of RMB26.3 million ($3.8 million). Excluding the rebate and other operating income, operating income for the third quarter of fiscal 2017 increased by 15.4%.
- Operating income before depreciation and amortization and share-based compensation expenses was RMB130.3 million ($18.8 million), up 65.9% year over year.2
- Interest expense was RMB30.6 million ($4.4 million) compared to RMB27.8 million last year.
- Impairment loss on available-for-sale equity securities was RMB2.5 million ($0.4 million), whereas no such loss incurred in the prior year period.
- Net income attributable to the Company’s shareholders increased by 10.8% to RMB55.9 million ($8.0 million).
- Net cash provided by operating activities for the third quarter of fiscal 2017 increased to RMB169.8 million ($24.5 million), up 18.3%.
First Nine Months of Fiscal 2017 Highlights
- Revenues for the first nine months of fiscal 2017 increased by 10.2% to RMB558.0 million ($80.4 million).
- New subscriber sign-up reached 54,386 and accumulated subscriber base expanded to 554,7421.
- Gross profit increased by 15.2% to RMB456.4 million ($65.7 million).
- Operating income increased by 37.5% to RMB208.5 million ($30.0 million).
- Operating income before depreciation and amortization and share-based compensation expenses increased to RMB292.9 million ($42.2 million) by 25.7% year-over-year.2
- Interest expense amounted to RMB89.2 million ($12.9 million).
- Impairment loss on available-for-sale equity securities was RMB2.5 million ($0.4 million), compared to RMB8.4 million in the prior year period.
- Net income attributable to the Company’s shareholders increased by 6.7% to RMB88.3 million ($12.7 million).
- Net cash provided by operating activities for the first nine months of fiscal 2017 was RMB437.1 million ($63.0 million), compared to RMB442.1 million in the prior year period.
“Even though economic uncertainties in China during the reporting quarter still put pressures on demand of precautionary healthcare services such as ours, we managed to keep a satisfying new subscriber growth through channels improvement, sales expansion, as well as public education enhancement.
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