China YCT International Group, Inc. (OTCQB: CYIG) stock traded volume of 7390 shares during its recent trading session as compared to its average volume of 3828 shares over the recent month. CYIG ended its day with the above stream along the move of 48% and closed at the price of $0.74 before opening at $0.7. It has total market capitalization is $23213345. 52 week range of the stock remained $ 0.25 – 1.01 while its day lowest price was $0.7 and its hit its day highest price at $0.74
China YCT International Group, Inc. (OTCQB: CYIG) declared its financial results for the three months ended June 30, 2018.
Mr. Tinghe Yan, Chairman and Chief Executive Officer of the Company said “We started the new fiscal year on a high note with revenues and net income increasing by 21.9% and 17.8%, respectively, for the first fiscal quarter that ended June 30, 2018. Gross and operating margins also increased on a year-over-year basis. The acer truncatum seed oil segment was particularly strong, with revenues growing by 81.3% to $5.25 million. Gross margin for acer truncatum seed oil also reached record level of 60.5% for the fiscal quarter ended June 30, 2018”.
Mr. Yan concluded “As our order trend suggests continuing growth momentum, we are optimistic about the near-term outlook of our business and believe that we can extend our streak of five consecutive years of top-line growth in fiscal year 2019”.
Total revenues increased by 21.9% year-over-year to $20.89 million with growth in sales from both acer truncatum seed oil and Huoliyuan capsules. The increase in revenues also benefitted from favorable exchange rate between RMB to US$ compared to a year ago.
Overall gross margin was 42.7%, compared to 40.0% for the same period of the prior fiscal year. The increase in overall gross margin was mainly due to higher gross margin for acer truncatum seed oil as a result of decreased raw material, packaging and manufacturing costs.
Net income attributable to the Company was $4.49 million, or $0.15 per share, compared to $3.81 million, or $0.13 per share, for the same period of the prior fiscal year.
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