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COPYRIGHT 2006 Asia Pulse Pty Ltd
(Full text of this release can be found at http://www.asianetnews.net)
BEIJING, Feb. 27 /Xinhua-PRNewswire-AsiaNet/ --
Citing the impact of a move into new facilities and delays in the timing of certain orders because of the Beijing Book Fair, Xinhua China Ltd. today reported a net loss of $2.1 million for its second quarter ended December 31, 2005 on sales of $9.1 million. Results for the six-months included a net loss of $3.8 million on sales of $25.2 million. The company noted it began operations on February 1, 2005. As a result, comparative prior year data are not available.
The company noted gross margin in the second quarter was 11.4 percent. This compares with gross margin of 10.4 percent in the first quarter. For the six month period, gross margin was 10.8 percent. The increase was the result of a higher percentage of sales stemming from non-textbook titles, which carry a higher margin.
"The second quarter was one of considerable change for Xinhua China," said Mr. Xianping Wang, president and CEO. "Although we completed consolidation of...
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