Press Releases
Yew Bio-Pharm Group Reports 2015 Third Quarter Financial Results


Yew Bio-Pharm Group Reports 2015 Third Quarter Financial Results

PR Newswire

HARBIN, ChinaNov. 16, 2015 /PRNewswire/ — Yew Bio-Pharm Group, Inc. (“Yew Bio” or the “Company”) (YEWB), a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine and products made from yew timber in China, today reported financial results for the three- and nine-months ended September 30, 2015.

2015 Third Quarter Results

Three Months Ended September 30,

Percentage

2015

2014

Change

Revenues:

TCM Raw Materials

$2,845,904

$1,161,838

145%

Yew Trees

96,275

514,130

(81)%

Wood ear mushroom

134,962

100%

Handicrafts

15,417

24,956

(38)%

Others

1,904,643

100%

Total Revenues

$4,997,201

$1,700,924

194%

Total revenues for the third quarter of 2015 increased 194% to $5.0 million from $1.7 million a year ago. Sales of TCM raw materials amounted to 56.9% of total revenues; sales of yew trees amounted to 1.9% of total revenues; sales of wood ear mushroom amounted to 2.7% of total revenues; sales of handicrafts amounted to 0.3% of total revenues; and sales of others, consisting with yew candles, amounted to 38.2% of total revenues.

For the 2015 third quarter, gross profit was $1.4 million, or 28.4% of total revenues, compared with $1.4 million, or 82.7% of total revenues for the comparable 2014 quarter. The decrease in the gross profit margin was primarily attributable to the lower gross margin yield of TCM raw materials and handicrafts.

Operating expenses decreased 5.6% to $484,573 for the quarter ended September 30, 2015, from $513,539 in the year-ago quarter. The decreasing was primarily attributable to the decreases in compensation and related benefits and professional fees.

Net income for the three months ended September 30, 2015 increased 4.6% to $933,514 from$892,716 in the same quarter last year. Earnings per diluted share for the three months ended September 30, 2015 was $0.02, in line with the same period last year.

Nine Months 2015 Financial Results

Nine Months Ended September 30,

Percentage

2015

2014

Change

Revenues:

TCM Raw Materials

$7,712,224

$3,356,622

130%

Yew Trees

1,139,946

2,350,874

(52)%

Wood ear mushroom

1,439,634

100%

Handicrafts

110,131

124,972

(12)%

Others

1,904,643

100%

Total Revenues

$12,306,578

$5,832,468

111%

Total revenues for the nine months of 2015 increased to$12.3 million from $5.8 million a year ago. Sales of TCM raw materials amounted to 62.7% of total revenues; sales of yew trees amounted to 9.3% of total revenues; sales of wood ear mushroom amounted to 11.7% of total revenues; sales of handicrafts amounted to 0.9% of total revenues; and sales of others, consisting with yew candles, amounted to 15.4% of total revenues.

Gross profit was $5.3 million, or 42.8% of total revenues, compared with $4.6 million, or 78.6% of total revenues for the comparable 2014 quarter. The decrease in the gross profit margin was primarily attributable to the lower gross margin yield of TCM raw materials.

Operating expenses increased 59.8% to $1.4 million for the nine months ended September 30, 2015, from $901,957 for the same period last year. The increasing was primarily attributable to the increases in compensation and related benefits and other expenses.

Net income for the nine months of 2015 increased 5.8% to $3.9 million from $3.7 million for the same period last year. Earnings per diluted share were $0.07, compared to $0.06 for the same period last year.

At September 30, 2015 the company had approximately $171,483 in cash and $1.7 million in accounts receivable.

“Revenue for the quarter increased 194% compared to last year due to the sales increases in TCM raw materials, wood ear mushroom and the others segments which offset the decrease of Yew tree sales,” said Mr. Zhiguo Wang, Chairman and Chief Executive Officer of Yew Bio-Pharm Group, Inc. “TCM raw materials and wood ear mushroom sales contributed a large proportion for the Company’s revenues as our related party, Yew Pharmaceutical, increases the demands in the past nine months,”

ABOUT YEW BIO-PHARM GROUP, INC

Yew Bio-Pharm Group, Inc., through its operating entity, Harbin Yew Science and Technology Development Co., Ltd. (HDS), is a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine (TCM) and products made from yew timber in China. Raw material from the species of yew tree that the Company grows contains taxol, and TCM containing yew raw materials has been approved as a traditional Chinese medicine in China for secondary treatment of certain cancers.  The Company uses a patented, accelerated growth technology to speed the growth and maturity and commercialization of yew trees and believes that it is one of the few companies possessing a permit to sell them. Yew Bio-Pharm also recently established a division to focus on organic foods and dietary supplements with the aim of developing new business opportunities in related industries. To learn more, please visitwww.yewbiopharm.com

SAFE HARBOR

This press release forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.  These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.  A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our ability to collect from our largest customers; our dependence on a small number of customers for raw materials, including a related party; our ability to continue to purchase raw materials at relatively stable prices; our dependence on a small number of customers for our yew trees for reforestation; our ability to market successfully raw materials used in the manufacture of traditional Chinese medicines; and our ability to receive continued preferential tax treatment for the sale of yew trees and potted yew trees.  From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 10-K.  Yew Bio does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.



Investor Relations Contacts:

Cami Xue

Chineseinvestors.com, Inc.

Tel: (800) 958-8561

Cami@chinesefn.com  



Terms of Use  |  Privacy  |  Site Map Copyright (C) 2013 Yew Bio-Pharm Group,Inc. All Rights Reserved. Black ICP 13003784 Website By ShenZhou