China Jo-Jo Drugstores Inc. operates through its affiliates as a retail pharmacy chain in China. The company today announced its financial results for the third quarter ended December 31, 2009, posting increases in revenues, gross profit and income from operations.
The company posted revenues at $14.9 million, up 29.1 percent from the year prior, which the company attributes to a boost in same-store sales and quality products.
“Our revenue increase in the fiscal third quarter ended December 31, 2009, was largely attributable to operating more stores and increasing overall same store sales,” Lei Liu, chairman and CEO of Jo-Jo Drugstores stated in the press release. “Throughout the quarter, we continued to execute on our goal of providing our customers with quality name brand products at the lowest overall prices and offering physician consultations at all of our locations. Our focus is our customer’s overall health.”
Gross profit for the fiscal third quarter rose 43.4 percent to $4.8 million, as compared to the third quarter of 2008. Gross margin for the quarter was 31.9 percent, compared with 28.8 percent in the comparable 2008 period.
The company reported income from operations at $3.4 million for the third fiscal quarter of 2009, accounting for 22.9 percent of revenues, up from $2.7 million, or 23.6 percent of revenues, for the same quarter in 2008.