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Mcglaughlin Lost $3 Million 400 Thousand In The Two Quarter.

2011/9/9 16:27:00 41

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Mcglaughlin (MCOX. NASDAQ) recently announced its financial performance as of the second quarter of June 30, 2011. The company's net operating income in the second quarter was $58 million 700 thousand, which is almost the same as that of the same period last year. However, the net loss in the two quarter was 3 million 400 thousand US dollars, and last year's net profit was 4 million 100 thousand US dollars.

According to the financial report, the net operating income of the Internet in the second quarter of 2011 increased by 25.9% compared with the same period last year, and the gross profit was 21 million 500 thousand US dollars, down 20.1% from the same period last year.

According to the disclosure, the net income of the call center in the two quarter was US $14 million 800 thousand, down 33% from the same period last year.

The main reason for the decline is that with the development of the Internet, customers' buying habits have been pferred from the call center to the Internet, and the circulation of catalogues has been reduced.

In the two quarter, the net operating income of self operated stores was 6 million US dollars, which was down 18.5% from the same period.

The decline was mainly due to the decline in the number of self operated stores from the average of 161 in the second quarter of 2010 to the average of 118 in the second quarter of 2011.

The main reason for the decline in gross margin.

Mcglaughlin explains that

Internet sales

Business accounted for an increase in net operating income, and its profits were lower than other channels. The income of third party brand products increased, its gross margin was lower than its own products and because of fierce competition, more coupons and promotional activities were given to consumers.

In addition, the two quarter operating expenses of $26 million 900 thousand, an increase of 22.6% over the same period.

In the two quarter, marketing and administrative expenses were $26 million, up 24.1% from the same period last year.

Gu Beichun, director and CEO of Mcglaughlin, said more and more venture capital poured into China in the second quarter.

Electronic Commerce

Industry makes the industry more competitive.

"Although there are many new entrants in this industry, we still see the growth of the wheat net business driven by the Internet platform, compared with the same period last year, our Internet.

Order

The number increased by 43%, and the average daily visit of wheat net increased by 47% compared to the same period last year.

The growth of our Internet business reflects our ability to attract new customers through effective market strategies.