NextMart to enhance women's apparel business

21 Aug '07

3 min read

NextMart Inc a Chinese direct sales company reported its first quarter fiscal 2008 financial results.

For the fiscal quarter ended June 30, 2007, NextMart reported gross revenue of $1,803,071, of which $1,790,596 (or 99.3% of total revenue) was derived from the Company's Transactional Services and $12,475 (or 0.7% of total revenues) was derived from the Company's Marketing and Information Services.

NextMart's gross profit for the quarter was $413,998 before all consulting, general and administrative, depreciation and amortization costs.

After all operating expenses and other income for the quarter ended June 30, 2007, the Company reported a comprehensive loss of 1,186,588 or $0.01 per outstanding share.

For more detailed information on the Company's results of operations and other information, please refer to the Company's Form 10-QSB filing for the period ended June 30, 2007.

Mr. Ren Huiliang, Chief Executive Officer of NextMart Inc commented, "Although we experienced a loss this quarter, we had a productive quarter in enhancing our focus on the women's apparel business."

"We began putting more efforts into growing our client base abroad and creating strategic partnerships to enhance our apparel sales and marketing capabilities in Mainland China."

"We believe that, over time, our new initiatives will pave the way to new revenues and lead us closer to our goal of building China's largest shopping community for online wholesale distribution and retail shopping in the women's fashion and apparel sector."

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