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  Origin Agritech's 3Q profit jumps 63 percent
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tsa...@gmail.com  
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 More options Aug 28 2008, 11:41 am
From: tsa...@gmail.com
Date: Thu, 28 Aug 2008 08:41:06 -0700 (PDT)
Local: Thurs, Aug 28 2008 11:41 am
Subject: Re: Origin Agritech's 3Q profit jumps 63 percent
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The percentage gain in net income calculated in yuan, about 63
percent, is less than the percentage gain in net income when
calculated in U.S. dollars, about 81 percent, because the Chinese
currency's value increased 11 percent against the dollar during the 12
months between the end of the 2007 quarter and the end of the 2008
quarter

Sales increased to 490.7 million yuan ($71.5 million) from 455.5 yuan
($59.8 million).

Gross margins for the third quarter improved to 29.4 percent from 23.9
percent in the third quarter of 2007 due to an average 6.2 percent
jump in average selling prices.

Shares rose $1.05, or 22.2 percent, to $5.79 in morning trading.


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