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!

Yongye International's CEO Discusses Second Quarter Results - Earnings Call Transcript

Stocks in this article: YONG

Although the company believes that the expectations in such forward-looking statements are reasonable, there's no assurance that such expectations will prove to be correct. On the call today, we'll also mentioned adjusted financial measures during the discussion of our performance. Reconciliations of those measures to comparable GAAP information can be found in the second quarter 2012 earnings release that was distributed early this morning.

Any projections as to the company's future performance represent management's estimates as of today, August 9, 2012. Yongye assumes no obligation to update these projections in the future as market conditions change. Having now stated those formalities, I will now turn the call over to Mr. Sam Yu for a review of the company's developments in the second quarter of 2012.

Sam Yu

Thank you, John. Thank you, everyone, for joining us today. Yongye has achieved another successful quarter with excellent growth in shipments of Shengmingsu and the continued strong uptake of our (inaudible) products highlighting the strength of our plan and the strength of our sales and distribution strategy.

We remained focused on expanding our distribution networks and strengthening our penetration in both new and existing markets.

During the second quarter of 2012, we continued expansion of our branded retailers to 32,015 stores covering over (inaudible) regions in China. The majority of newly recruited branded retailers are from Hebei, Shanxi, Jiangsu, and Henan provinces.

I would like to begin by providing an overview of our performance during the second quarter of 2012. Revenue increased 14.8% to $177.6 million from $154.7 million in the second quarter of 2011. Gross profit increased 17.8% year-over-year to $108.1 million. Income from operations increased 3.9% to $53.5 million.

Net income attributable to Yongye increased 4.0% to $41.1 million from $39.5 million for the same period of 2011. Diluted earnings per share stood at $0.74 compared to $0.77 for the same period of 2011.

2 of 3

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