Global Cord Blood Corporation (CO) Misses Q1 EPS by 4c, Revenues Miss

Global Cord Blood Corporation (NYSE: CO) reported Q1 EPS of $0.09, $0.04 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $35.3 million versus the consensus estimate of $39.36 million.

• Revenues increased to RMB233.8 million ($35.3 million) from RMB224.2 million in the prior year period.
• New subscribers and accumulated subscriber base were 20,601 and 682,081[1], respectively.
• Gross profit increased to RMB190.7 million ($28.8 million) from RMB179.4 million in the prior year period. Gross margin increased to 81.5% from 80.0% in the prior year period.
• Operating income increased by 15.0% year-over-year ("YoY") to RMB95.4 million ($14.4 million).
• Operating income before depreciation and amortization and share-based compensation expense[2] ("non-GAAP operating income") increased by 17.7% YoY to RMB108.6 million ($16.4 million). No share-based compensation expense was recorded in the reporting quarter.
• Net income attributable to the Company\'s shareholders increased by 6.4% YoY to RMB73.5 million ($11.1 million), after taking into account the unrealized holding loss of RMB9.3 million ($1.4 million) for equity securities following the adoption of a new accounting standard[3].

"In the first quarter of fiscal 2019, we recorded 20,601 new subscribers, in line with our quarterly target. Despite the difficulty in client conversion as consumer spending became more conservative in the face of macroeconomic uncertainty, we are delighted to see new subscriber numbers stabilizing at current levels." said Ms. Ting Zheng, Chairperson and Chief Executive Officer of GCBC. "As we sail through the storm, we will remain focused on penetrating our existing markets as well as searching for business development opportunities in the hematopoietic cord blood industry value chain domestically and abroad, aiming to provide additional cord blood related healthcare and treatment services to our clients."

For earnings history and earnings-related data on Global Cord Blood Corporation (CO) click here.

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