Macaulay Cash Crunch, revenue drops 41.4%

Macaulay reported its earnings today. The results showed that Macaulay's quarterly revenue was $23.2 million, down 41.4% from $39.7 million a year earlier, a net loss of $11.2 million trillion and a net deficit of 7.1 million dollars a year earlier.

"In the fourth quarter of 2013, our revenues were still affected by the overall downturn in China's economy, the challenges facing the company, and the M18.com website's transformation into a non-exclusive, multi-channel platform operated by the joint venture Giosis Mecox," said Beichun, chief executive of Macquarie. The negative effects of these combination effects. ”

Beichun said that Macaulay will continue to carefully control cost management and cash expenditure, and strive to improve the overall operational efficiency and inventory management, to maintain the appropriate inventory.

Macaulay Cash is in a tight situation. As of December 31, 2013, Macaulay held a total of $15.7 million in cash and cash equivalents, up from $13.3 million to December 31, 2012, up from $6.4 million to September 30, 2013. But with a quarterly deficit, Macaulay could be unsustainable by the second quarter of 2014.

In addition, as of December 31, 2013, the total amount of short-term investments held by Macaulay was zero, below the 20.7 million U.S. dollars as at December 31, 2012 and less than USD 12.8 million as at September 30, 2013.

Macaulay Q4 revenue 23.2 million U.S. dollars down 41.4%

Macaulay's total net revenue for the quarter was $23.2 million, down 41.4% from $39.7 million a year earlier. Macaulay's total net revenue decline year-on-year, mainly by net revenue of network platform business year-on-year decline, as well as call center and franchise shop net revenue decline, offset the direct sales of net revenue growth to the company's revenue impact.

Macaulay's net revenue from the Internet platform business in the quarter was $4.5 million trillion, down 74.8% from $17.9 million a year earlier. Macaulay's net revenue from the network platform business fell Year-on-year, mainly by the m18.com site by the joint venture company Giosis Mecox Management and new online, the site became a brand-neutral, open platform impact, offset the company's independent E-commerce platform revenue growth impact.

The net revenue from the call center in the last quarter was $12.7 million trillion, down 12.7% from a year earlier. Macaulay's net revenue from direct-operating stores was $4.7 million trillion, up 28% from a year earlier.

Macaulay Q4 cost 14.1 million USD down 46%

Macaulay's quarterly cost was $14.1 million, which grew 18% from the previous quarter, down 46% from a year earlier.

Macaulay Q4 Gross margin 9.1 million USD 39%

Macaulay's gross profit in the quarter was $9.1 million trillion, down 33.9% from the 13.7 million dollar a year earlier. Macaulay's gross profit margin for the quarter was 38.9%, up from 34.5% a year earlier.

Macaulay Q4 cost 18.7 million USD down 14%

Macaulay's operating expenses for the quarter were $18.7 million trillion, down 13.7% from 21.7 million a year earlier.

Macaulay Q4 operating loss of 9.6 million USD operating profit margin-41%

Macaulay's operating loss in the quarter was $9.6 million trillion, operating at $8 million a year earlier. Macaulay's operating profit margin for the quarter was 41%, a 21% increase from a year earlier.

Macaulay Q4 net loss of 11.2 million U.S. dollars was significantly enlarged

Macaulay lost a net loss of $11.2 million in the quarter and a net loss of $7.1 million a year earlier. Not in accordance with the United States General accounting standards, Macaulay last quarter net loss of 10.2 million U.S. dollars, a year earlier net loss of 6.7 million U.S. dollars.