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Yayi International Reports Second Quarter and First Half of Fiscal 2012 Financial Results
TIANJIN, China--(BUSINESS WIRE)--November 14, 2011--Yayi International Inc. (OTC Bulletin Board: YYIN) ("Yayi International" or "the Company"), the first mover and a leading producer and distributor of premium goat milk formula products for infants, toddlers, young children, and adults in the People’s Republic of China (“China”), today announced its financial results for the second quarter and first half of fiscal year 2012 ended September 30, 2011.
Second Quarter 2012 Highlights
- Net sales increased 2.7% to $8.6 million from $8.3 million in the first quarter of fiscal 2011
- Gross profit rose 4.1% to $5.4 million from $5.2 million in the previous quarter
- Gross margin increased to 63.4% compared to 62.6% in the previous quarter
- Adjusted net income was $0.2 million compared to an adjusted net income of $0.8 million in the previous quarter
Ms. Li Liu, Chief Executive Officer of Yayi International, commented, "We are pleased to achieve continued revenue growth and adjusted net income of $0.2 million for the second quarter of fiscal 2012. We believe these measures demonstrate that our continued focus on driving profitability by increasing productivity of both our staff and our existing retail locations has been effective. Furthermore, we believe our management team’s consistent focus on improving our operational strategies will also support our long term growth. We recognize that China’s dairy industry continues to remain a volatile market. However, we believe our focus on quality and our ability to adapt to market challenges will enhance our ability to deliver shareholder value in the long run.”
Sequential Comparison of Second Quarter 2012 vs. First Quarter 2012
The following information was filed by Yayi International Inc (YYIN) on Monday, November 14, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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