China Modern Agricultural Information, Inc. Acquires Land to Create Modern Breeding Base for Dairy Cows; Provides Earnings Guidance for Third Quarter Ended March 31, 2013
The company provided earnings guidance for third quarter ended March 31, 2013. For the three months ended March 31, 2013, the revenue is estimated to be $11.5 million, representing an increase of 22% as compared to $9.4 million for the same period in 2012. The revenue of the Company mainly comes from the sale of fresh milk and the commission from farmers. For the three months ended March 31, 2013, gross profit is estimated to reach $7.4 million, an increase of $1.36 million or 23%, as compared to $6.0 million for the same period last year. Gross profit margin will reach 64%. Net profit is projected to be $5.4 million, with a net profit margin of 47%, representing an increase of 18% as compared to $4.6 million for the same period last year.