This Day On The Street
Continue to site
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

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs