China Cord Blood Q1 Profit Down

(RTTNews) - China Cord Blood Corp. (CO) Wednesday reported first-quarter net income of 13.4 million yuan or 0.19 yuan per share, down from 29.7 million yuan or 0.37 yuan per share last year.

On a US dollar basis, profit for the quarter was $2.2 million or $0.03 per share.

Revenues for the quarter rose 7.8 percent to 165.4 million yuan from 153.3 million yuan last year. On a US dollar basis, revenues were $26.7 million.

Gross margin dropped to 77.9 percent from 80.6 percent last year, due to higher raw material costs.

Operating expenses rose to 80.4 million yuan from 63.4 million yuan last year.