Electric commercial Orchid Pavilion set potential third quarter net loss to expand

Orchid Pavilion (NYSE: LITB) today released its third-quarter financial results for fiscal year 2013 as at September 30. In the third quarter, the net revenue of the pavilion was $68.1 million, a 33.4% increase from 51.1 million dollars in the same period last year, and a net loss of $2.4 million, with a net loss of $1 million in the same period last year.

Third quarter Performance Summary:

Net revenue was $68.1 million, up 33.4% from $51.1 million a year earlier, mainly because the total number of clients in the quarter grew by 74.7%.

Gross margin of 43.9%, compared with the same period last year 42.3% growth of 160 basis points;

The adjusted operating loss of USD 2.5 million was not measured in accordance with US GAAP, and the adjusted operating profit for the same period last year was $400,000.

The net loss was $2.4 million trillion, with a net loss of $1 million over the same period last year.

The adjusted net loss of USD 1.9 million was not measured in accordance with United States GAAP, with a net loss of $200,000 over the same period last year.

"Our net revenue grew 33.4% per cent year-on-year in the third quarter of this year, in line with our expected range and the third quarter was a off-season," said Guo, chairman and chief executive of Orchid Pavilion. In terms of regional distribution, our third-quarter revenue growth in Europe and South America contributed significantly. Our revenue from other goods will grow by 59.6% in the third quarter, excluding revenue from the apparel business. In terms of revenue growth for each product category, the main products we contributed to in the third quarter of this year were small gadgets and small electronic products, as well as household and horticultural products. In the third quarter of this year, our total number of customers grew 74.7% to 1.3 million, and our total number of orders grew by 80% to 1.6 million, indicating that our online retail platform is growing in its ability to attract customers. ”

Financial Analysis:

In the third quarter net revenue was $68.1 million trillion, up 33.4% from $51.1 million a year earlier, mainly due to the increase in the number of customers and total orders.

Orchid Pavilion Set potential third-quarter clothing, small accessories and tools, as well as electronic and communications equipment, remain the three main sources of revenue for the Orchid Pavilion, with revenues from small accessories and tools and electronic and communications equipment at $36.09 million, while revenue from apparel fell 8.1% to $18.2 million.

Orchid Pavilion Set potential in the third quarter by region, Europe is still the largest market for the Orchid Pavilion, from the market revenue of 40 million U.S. dollars, compared with the same period last year, an increase of 92.2%. Orchid Pavilion The third quarter European revenue in the company's total revenue accounted for 58.8%, higher than the same period last year 40.8%.

Orchid Pavilion Set potential in the third quarter from South American revenue from the same period last year, the increase of 105% to 7.5 million U.S. dollars; Orchid Pavilion set in the third quarter from Latin America's revenue in the company's total revenue accounted for 11%.

Orchid Pavilion in the third quarter from North America and other countries in the revenue of 13 million U.S. dollars and 7.6 million U.S. dollars, the total quarterly revenue in the proportion of 19% and 11.2% respectively.

The group's gross profit in the third quarter was $29.9 million trillion, up 38.4% from 21.6 million dollars in the same period last year, with a major increase in Yu Yinying receipts and continued growth due to product portfolio optimization. Orchid Pavilion Set potential third-quarter gross profit margin of 443.9%, higher than the same period last year 42.3%.

The total operating expenditure in the third quarter was $33 million trillion, up 50% from 22 million trillion in the same period last year; Total operating expenditure accounted for 48.4% per cent of total net revenue, up from 43.1% per cent last year.

The pavilion's third-quarter performance expenditure was $3.8 million trillion, up 52% from 2.5 million trillion dollars in the same period last year, which mainly reflects the increase in sales and the number of fulfilled orders. Orchid Pavilion Set potential third-quarter performance expenditure in total net revenue accounted for 5.6%, higher than the same period last year 4.9%.

Orchid Pavilion's third-quarter sales and marketing expenditure of 21.6 million U.S. dollars, compared with the same period last year, 14 million U.S. dollar growth of 53.8%, this growth mainly reflects the company's efforts to expand the customer base. Orchid Pavilion Set potential in the third quarter, although sales and marketing spending increased year-on-year, but the number of customers also rose 74.7% and the total number of orders also grew 80% Orchid Pavilion set the third quarter sales and marketing expenditures accounted for 31.7% of total net revenue, higher than the same period last year 27.5%.

Orchid Pavilion Set potential in the third quarter of the general and administrative expenditure of 7.6 million U.S. dollars, compared with the same period last year, 5.4 million U.S. dollars rose 39.3%, this growth reflects the growth of equity incentive spending. Orchid Pavilion The third quarter general and administrative expenditure in total net revenue accounted for 11.1%, higher than the same period last year 10.7%.

The Blue Pavilion's third-quarter operating loss was $3.1 million trillion, operating at $400,000 a year earlier.

Orchid Pavilion Set potential in the third quarter not in accordance with the United States General accounting standards (excluding equity incentive spending) adjusted operating loss of 2.5 million U.S. dollars, the same period last year adjusted operating profit of 400,000 U.S. dollars.

The net loss in the third quarter was $2.4 million trillion, with a net loss of $1 million in the same period last year, while US depository shares lost $0.05 trillion per share, with a loss of $0.10 a share last year. Orchid Pavilion Set potential per share of the United States depository shares equivalent to two common shares.

Orchid Pavilion Set potential in the third quarter not in accordance with the United States General accounting standards (excluding equity incentive expenditure) Adjusted net loss of 1.9 million U.S. dollars, A diluted loss of $0.04 per share; The adjusted net loss of 200,000 U.S. dollars over the same period last year not in accordance with the United States General accounting standards (excluding equity incentive payments), with a diluted loss of $0.05 per share. In the third quarter of this year, the number of weighted shares used to calculate the U.S. depository receipts per share was 49,464,423 shares.

As of September 30, 2013, the total cash, cash equivalents, term deposits and limited cash holdings of the pavilion were $103 million, up to December 31, 2012 at $21.2 million.

The net cash flow from operating activities in the third quarter of the pavilion was $1.4 million trillion, compared with $2.1 million a year earlier.

Performance Outlook:

The expected net revenue for the fourth quarter of 2013 to be between $75 million and $77 million, up 15.8% to 18.9% per cent over a year earlier, reflects the company's current and preliminary view and may change in the future.