Income from operations in the third quarter of fiscal 2011 totaled $2.8 million versus $3.4 million in the third quarter of fiscal 2010, while operating margin was 15.3% compared to 22.9%, respectively.Net income for the period was $2.2 million, or basic and diluted earnings of $0.17 per share, compared to $2.6 million, or basic and diluted earnings of $0.26 per share, a year ago. The decline is primarily attributable to an additional 3.5 million basic and diluted shares outstanding, as well as higher operating expenses, on a year-over-year basis. The increase in the basic and diluted share count from 10.0 million in the fiscal 2010 period to 13.5 million in the fiscal 2011 period reflects the issuance of common shares in connection with the Company’s April 2010 public stock offering.
China Jo-Jo Drugstores, Inc. Reports Fiscal 2011 Third Quarter And Nine Month Financial Results
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