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 Financial Results For Third Quarter 2012

China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD), a retail pharmacy chain in Zhejiang and Shanghai, today reported record revenue for the third quarter of fiscal year 2012 ended December 31, 2011. The Company will hold its earnings call on Thursday, Feb. 16 at 8:00 a.m. Eastern Time.

Third Quarter Highlights:

  • Revenue increased 42.1% to a record high of $25.64 million
  • Gross profit increased 28.1% to $6.83 million
  • Net income attributable to controlling interest decreased 29.7% to $1.57 million
  • Two new stores opened during the quarter, bring the store number to 60 by the end of the quarter, compared with 49 a year ago.

Third Quarter Results

Revenue increased 42.1% to $25.64 million for the three months ended December 31, 2011, from $18.04 million for the three months ended December 31, 2010, primarily as a result of wholesale revenue from Zhejiang Jiuxin Medicine Co., Ltd. (“Jiuxin Medicine”) which was acquired in August 2011, and sales from new stores opened since December 31, 2010, offset by same-store sales decrease.

Same-store sales decreased by $1.87 million, or 10.5%, period over period, mainly as a result of shifting certain non-retail sales from Hangzhou Jiuzhou Grand Pharmacy Chain Co., Ltd., which operates most of the Company’s pharmacies, to Jiuxin Medicine.

Gross profit increased by 28.1% to $6.83 million from $5.33 million. Gross margin decreased from 29.5% to 26.6 % as a result of lower gross profit margin from Jiuxin Medicine’s wholesale activities.

Selling expenses increased 86.9% to $2.50 million. The increase is primarily a result of operating 60 store locations as compared to 49 stores that we operated a year ago. Selling expenses as a percentage of our revenue increased from 7.4% to 9.7%.

General and administrative expenses increased 77.2% to $2.18 million. General and administrative expenses as a percentage of our revenue increased from 6.8% to 8.5%. The increase is mainly attributable to the establishment of new subsidiaries in the last calendar year and expenses of being a public company.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • 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