| Address:
|
15200 SHADY GROVE ROAD #350
|
| City: |
ROCKVILLE |
|
State: |
MD |
|
Zip Code: |
20850 |
| Telephone: |
301-840-3888 |
|
Description of Business
|
Primary SIC Code:
2020 |
| (As filed with the SEC)
|
|
|
We are a leading infant formula company in China. We principally produce, market
and sell our products under the "Shengyuan" or "Synutra" name, together with
other complementary brands in mainland China. We focus on selling premium infant
formula products, which are supplemented by more affordable infant formulas
targeting the mass market as well as other nutritional products and ingredients.
We sell our products through an extensive nationwide sales and distribution
network covering 30 provinces and provincial-level municipalities in China. As
of March 31, 2011, this network comprised over 580 independent distributors and
over 1,000 independent sub-distributors who sell our products in over 71,000
retail outlets.
We currently have three reportable segments which are:
o Powdered formula segment: Powdered formula segment
covers the sale of powdered infant and adult formula
products. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2011 | -0.53 | NA | N/E | | 06/2011 | -1.07 | NA | N/E | | 03/2011 | -0.71 | NA | N/E | | 12/2010 | -0.40 | NA | N/E | | 09/2010 | -0.22 | NA | N/E | | 06/2010 | -0.09 | NA | N/E | | 03/2010 | -0.46 | NA | N/E | | 12/2009 | -0.94 | NA | N/E |
Key Financial Ratios and Statistics |
FYE:
03/31 |
| Profitability |
2011 |
Leverage |
2011 |
| Net Inc/Comm Equity | -0.30 | Total Liab/Total Assets | 0.81 | | Net Inc/Total Assets | -0.10 | Total Liab/Inv Cap | -26.56 | | Net Inc/Inv Cap | 3.29 | Total Liab/Comm Equity | 2.39 | | Pretax Inc/Net Sales | -0.20 | Interest Coverage Ratio | -3.80 | | Net Inc/Net Sales | -0.16 | Curr Debt/Equity | 2.16 | | Cash Flow/Net Sales | -0.27 | LTD/Equity | 0.91 | | SG&A/NetSales | 0.47 | Total Debt/Equity | 3.06 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 3.18 | Quick Ratio | 0.73 | | Inventory Turnover | 2.86 | Current Ratio | 1.00 | | Inventory Day Sales | 0.01 | Net Rec/Curr Assets | 0.33 | | Net Sales/Work Cap | -518.82 | Inv/Curr Assets | 0.27 | | Net Sales/PP&E | 2.26 | | |
Income Statement (Millions) |
| |
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Total Revenues(Net Sales)
|
99.05
|
43.76
|
79.29
|
44.23
|
|
Cost of Goods Sold
|
57.05
|
27.68
|
61.83
|
39.21
|
|
Selling & Admin Exps
|
26.97
|
25.94
|
22.46
|
30.56
|
|
Operating Income
|
15.03
|
-9.86
|
-6.43
|
-24.10
|
|
Interest Exp
|
3.87
|
3.41
|
2.92
|
2.63
|
|
Pretax Income
|
11.87
|
-12.50
|
-8.98
|
-26.47
|
|
Other Income
|
0.72
|
0.78
|
0.37
|
0.26
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
8.53
|
-9.60
|
-8.54
|
-20.48
|
|
Assets
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Cash & Short Term Investments
|
78.94
|
80.32
|
86.43
|
83.56
|
|
Receivables - Total
|
72.31
|
57.57
|
82.62
|
102.15
|
|
Inventories - Total
|
73.63
|
94.78
|
67.37
|
70.16
|
|
Total Current Assets
|
237.08
|
253.57
|
247.99
|
269.51
|
|
Net Property, Plant & Equipment
|
113.89
|
113.53
|
109.81
|
109.07
|
|
Total Assets
|
414.47
|
408.02
|
398.70
|
398.53
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
59.25
|
74.77
|
60.14
|
66.57
|
|
Debt in Current Liabilities
|
186.32
|
179.41
|
162.41
|
144.80
|
|
Total Current Liabilities
|
271.13
|
277.51
|
248.47
|
238.56
|
|
Long-Term Debt
|
59.11
|
56.79
|
68.26
|
70.45
|
|
Total Liabilities
|
337.32
|
341.17
|
323.41
|
315.57
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
0.94
|
0.81
|
0.63
|
0.59
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.01
|
0.01
|
0.01
|
0.01
|
|
Retained Earnings
|
-89.43
|
-97.95
|
-88.36
|
-79.82
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
77.15
|
66.85
|
75.29
|
82.96
|
|
Total Liabilities and Stockholders' Equity
|
414.47
|
408.02
|
398.70
|
398.53
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Net Cash Provided by Operating Activities
|
16.91
|
-8.09
|
-6.39
|
-34.58
|
|
Net Cash Provided by Investing Activities
|
-13.93
|
-16.85
|
-7.24
|
-11.10
|
|
Net Cash Provided by Financing Activities
|
5.53
|
2.80
|
19.77
|
34.86
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 03/2007 | 216.60 | 19.87 | 0.51 | | 03/2008 | 362.09 | 45.66 | 0.85 | | 03/2009 | 312.53 | -100.55 | -1.86 | | 03/2010 | 291.89 | -24.62 | -0.46 | | 03/2011 | 248.52 | -40.07 | -0.71 | | Growth Rates | 3.50 | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 39 | 7,257 | 12.67 |
|
Report Date :
1/30/2012
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