This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

China Jo-Jo Drugstores, Inc. Reports Fiscal 2011 Third Quarter And Nine Month Financial Results

Stocks in this article: CJJD

The Company expects to have 60 locations open by the close of its 2011 fiscal year ending March 30, 2011. Total revenue for the year is expected to be between $68.0 million and $70.0 million and basic and diluted earnings per share are expected to be in the range of $0.62 to $0.64. During fiscal year 2012, the Company expects to open between 20-30 new stores.

Nine Month Results

Revenue for the nine months ended December 31, 2010 increased 25.9% to $48.9 million compared to $38.9 million in the year ago period. Comparable store sales for the nine month period increased 7.8%, reflecting an increase in Prescription and Over-The-Counter drug sales, partially offset by a decrease in Traditional Chinese Medicine and Medical Device sales.

Gross profit for the nine month period increased 25.0% to $14.1 million compared to $11.3 million a year ago. Gross margin was 28.8% in the fiscal 2011 period versus 29.0% in the fiscal 2010 period.

Selling expense was $3.3 million for the nine months ended December 31, 2010 versus $2.0 million in the year ago period. The increase reflects an additional 27 stores in operation during the period, as well as the Company’s ongoing efforts to build increased awareness of the China Jo-Jo Drugstores brand.

General and administrative expenses for the nine month period were $2.8 million compared to $1.4 million in first nine months of fiscal 2010, reflecting operational support for additional stores open during the period, as well as increased costs associated with being a publicly traded company.

Income from operations in the fiscal 2011 period totaled $8.4 million versus $7.9 million in the first nine months of fiscal 2010, while operating margin was 16.9% compared to 20.4% a year ago.

Net income for the fiscal 2011 nine month period was $6.0 million, or basic and diluted earnings of $0.46 per share, compared to $5.9 million, or diluted and basic earnings of $0.68 per share, a year ago. The decline is primarily attributable to an additional 4.5 million basic and diluted shares outstanding, as well as higher operating expenses on a year-over-year basis. The increase in basic and diluted share count from 8.7 million in the fiscal 2010 period to 13.2 million in the fiscal 2011 period reflects the issuance of common shares in connection with the Company’s April 2010 public stock offering.

3 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs