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Press Release

China Cord Blood Corporation Reports Financial Results for the Third Quarter and First Nine Months of Fiscal 2018

China Cord Blood Corporation
Posted on: 28 Feb 18

3Q18 Added 24,229 New Subscribers

3Q18 Revenues Up 22.0% YOY to RMB245.0 Million ($37.7 Million)                              

3Q18 Operating Income Reached RMB78.4 Million ($12.0 Million)

Conference Call to be Held on February 27, 2018 at 8:00 a.m. ET

HONG KONG, Feb. 26, 2018 /PRNewswire/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), a leading cord blood bank operator in China, today announced its unaudited financial results for the third quarter and first nine months of fiscal year 2018.

Third Quarter of Fiscal 2018 Highlights

Revenues for the third quarter of fiscal 2018 increased by 22.0% to RMB245.0 million ($37.7 million) from RMB200.9 million in the prior year period.

New subscribers and accumulated subscriber base were 24,229 and 640,3111, respectively.

Gross profit in third quarter fiscal 2018 grew at a slower pace of 12.7% to RMB198.2 million ($30.5 million), from RMB175.8 million last year because the Company recorded a one-off reduction in direct costs of RMB16.8 million in the comparable fiscal quarter last year.

Third quarter fiscal 2018 operating income and operating income before depreciation and amortization and share-based compensation expenses2 were RMB78.4 million ($12.0 million) and RMB110.8 million ($17.0 million), respectively. Aside from the one-off reduction in direct costs, the Company also recorded RMB26.3 million other operating income in the comparable fiscal quarter last year. Therefore, third quarter fiscal 2017 operating income and operating income before depreciation and amortization and share-based compensation expenses2 amounted to RMB101.7 million and RMB130.3 million, respectively.

Net income attributable to the Company's shareholders increased by 25.0% to RMB69.9 million ($10.7 million) from RMB55.9 million in the prior year period as no interest expense was incurred in this quarter.

Net cash provided by operating activities for the third quarter of fiscal 2018 increased to RMB182.7 million ($28.1 million) from RMB169.8 million last year.

First Nine Months of Fiscal 2018 Highlights

Revenues for the first nine months of fiscal 2018 increased by 26.1% to RMB703.8 million ($108.2 million).

New subscriber sign-ups reached 70,399 and accumulated subscriber base expanded to 640,3111.

Gross profit increased by 24.1% to RMB566.5 million ($87.1 million).

Operating income increased by 14.0% to RMB237.7 million ($36.5 million).

Operating income before depreciation and amortization and share-based compensation expenses2 increased to RMB311.8 million ($47.9 million) from RMB292.9 million in the prior year period.

Net income attributable to the Company's shareholders increased to RMB206.6 million ($31.8 million) from RMB88.3 million in the prior year period.

Net cash provided by operating activities for the first nine months of fiscal 2018 was RMB624.4 million ($96.0 million), up 42.9% from last year period.

"In the reporting quarter, we continued to achieve pleasing results led by outstanding performance in our Guangdong division and maintained our leading position in the cord blood bank industry. We also rolled out pilot programs to expand our channels beyond hospitals. Meanwhile, we expect that the issuance of new policies to support and regulate research on stem cell therapy will encourage and accelerate the development of stem cell-related clinical applications, which will boost cord blood storage demand over the long run," said Ms. Ting Zheng, Chairperson and Chief Executive Officer of China Cord Blood Corporation. 

For more information:
www.prnewswire.com/news-releases/china-cord-blood-corporation-reports-financial-results-for-the-third-quarter-and-first-nine-months-of-fiscal-2018-300603873.html

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 28/02/2018

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