Global Cord Blood Corporation (CO) Tops Q1 EPS by 2c

Global Cord Blood Corporation (NYSE: CO) reported Q1 EPS of $0.15, $0.02 better than the analyst estimate of $0.13. Revenue for the quarter came in at $39.8 million versus the consensus estimate of $39.36 million.

First Quarter of Fiscal 2021 Highlights

• Revenues increased by 2.8% year-over-year ("YoY") to RMB280.9 million ($39.8 million).
• New subscribers and accumulated subscriber base were 17,233 and 849,933[1], respectively.
• Gross profit increased by 4.3% YoY to RMB237.5 million ($33.6 million). Gross margin improved to 84.5% from 83.3% in the prior year period.
• Operating income increased by 18.8% YoY to RMB133.5 million ($18.9 million).
• Operating income before depreciation and amortization[2] ("non-GAAP operating income") increased by 16.8% YoY to RMB145.9 million ($20.6 million).
• Net income attributable to the Company's shareholders increased by 22.3% YoY to RMB132.5 million ($18.8 million).

"Despite the ongoing challenges brought on by the 2019 novel coronavirus (COVID-19) pandemic and sluggish consumer sentiment, we recorded 17,233 new subscribers during the first quarter of fiscal 2021," commented Ms. Ting Zheng, Chairperson and Chief Executive Officer of GCBC. "As we continue to navigate the current situation, we will remain vigilant to the long-term consequences of the pandemic and the constraints it has cast upon our business environment, as well as any potential developments in the regulatory regime that governs China's cord blood banking industry. We will also continue to pursue business opportunities as we expand our service offerings to support the long-term growth of the Company."

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

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