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Zuoan Fashion sales up 16% in 2012
26
Apr '13
Zuoan Fashion Limited, a leading design-driven fashion casual menswear company in China, announced its financial results for the fourth quarter and full year ended December 31, 2012.

Full Year 2012 Financial Highlights

- Total revenue for the full year 2012 increased 16.0% to RMB1.4 billion ($229.1 million) from RMB1.2 billion in 2011.

- Gross profit increased 22.8% to RMB668.1 million ($107.2 million) in 2012 from RMB544.0 million in 2011 and gross profit margin increased 2.6% to 46.8% in 2011 from 44.2% in 2011.

- Net income for the full year 2012 was RMB295.4 million ($47.4 million), an increase of 15.5% from RMB255.7 million in 2011.

- Basic earnings per ordinary share was RMB2.65 ($0.43) in 2012, equivalent to RMB10.62 ($1.70) per ADS, compared to basic earnings per ordinary share RMB2.39 ($0.38) in 2011,  equivalent to RMB9.54 ($1.53) per ADS.

- Diluted earnings per ordinary share was RMB2.65 ($0.43) in 2012, equivalent to RMB10.62 ($1.70) per ADS, compared to diluted earnings per ordinary share RMB2.37 ($0.38) in 2011, equivalent to RMB9.47 ($1.52) per ADS.

- The number of Zuoan stores increased 4.6% to 1,329 at the end of 2012 compared to 1,270 stores at the end of 2011.

Fourth Quarter 2012 Financial Highlights

- Revenues in the fourth quarter of 2012 were RMB369.6 million ($59.3 million), an increase of 4.0% from RMB355.3 million in the same quarter of 2011.

- Gross profit in the fourth quarter decreased 1.1% year over year to RMB167.9 million ($27.0 million) from RMB169.8 million in the same quarter of 2011.

- Gross profit margin was 45.4% compared to 47.8% in the prior year period and 46.9% in the 2012 third quarter.   

- Net income was RMB69.0 million ($11.1 million), a decrease of 1.7% from RMB70.2 million in the same quarter of 2011.

- Diluted earnings per ordinary share was RMB0.62 ($0.10) in the fourth quarter, equivalent to RMB2.48 ($0.40) per ADS, compared to diluted earnings per ordinary share of RMB0.63 ($0.10), equivalent to RMB2.52 ($0.40) per ADS, in the fourth quarter of 2011.

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