JMU Limited (JMU) Reports FY17 Revenues of $88.7M

JMU Limited (NASDAQ: JMU) reported FY17 revenues at $88.7 million.

Fiscal Year 2017 Financial Performance

• Revenues were $88.7 million for the year of 2017, representing an increase of 21% from $73.2 million in 2016. The growth of revenue in fiscal 2017 was mainly due to the increase in order volumes.
• Cost of revenues was $88.2 million in the year of 2017, showing an increase of 21% from $72.9 million in 2016, which was generally in-line with the growth of the Company\'s revenues.
• Gross profit for fiscal 2017 was $0.5 million, representing a 67% increase from $0.3 million in 2016.
• Selling and marketing expenses in 2017 decreased 25% to $15.2 million from $20.4 million in 2016. As a percentage of total revenue, selling and marketing expense was 17.1% and 27.9% in the fiscal year of 2017 and 2016, respectively. The decrease was primarily attributable to (i) a decrease of US$4.2 million expense related to loyalty program and (ii) a decrease of US$0.6 million in the cost of advertisement campaigns and promotions..
• General and administrative expenses in 2017 were $6.7 million, representing a decrease of 11% compared to $7.5 million in 2016. As a percentage of total revenues, general and administrative expenses was 7.5% and 10.3 % in the fiscal years of 2017 and 2016, respectively.
• Loss from operations in 2017 was $168.4 million, showing an increase of 510% from $27.6 million in 2016. The change in loss from operations was mainly due to the impairment loss of $147.0 million after the annual impairment test for the year ended December 31, 2017.

For earnings history and earnings-related data on JMU Limited (JMU) click here.

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