Slide five offers the breakdown of our revenue this quarter. Our ELP business contributed RMB23.2 million, down 18.5% from last year. LNS contribution – contributed RMB10.3 million, which was above our initial guidance of RMB8 to RMB9 million and the business reached our target of 30% of topline growth.Moving to slide six, our gross loss in the first quarter was RMB3.8 million, compared to gross profit of RMB6.5 million in the first quarter of fiscal 2009. For fiscal 2010 gross profit declined to RMB311.5 million, gross margin for the year was 45.8%, compared to 51.4% in fiscal year 2009, due to the impact of challenges encountered in our ELP segment this quarter, as well as the overall shift in our product mix towards lower price KLD.
Noah CEO Discusses F4Q10 Results - Earnings Call Transcript
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