Sino-Global Shipping America (SINO)

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Sino-Global Shipping America Ltd. :SINO-US: Earnings Analysis: Q2, 2017 By the Numbers : March 15, 2017
March 15, 2017 by CapitalCube
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Sino-Global Shipping America Ltd. reports financial results for the quarter ended December 31, 2016.

We analyze the earnings along side the following peers of Sino-Global Shipping America Ltd. – Janel Corp., Air Transport Services Group, Inc. and United Parcel Service, Inc. Class B (JANL-US, ATSG-US and UPS-US) that have also reported for this period.

Highlights

Summary numbers: Revenues of USD 2.13 million, Net Earnings of USD 0.89 million.
Gross margins widened from 55.72% to 83.52% compared to the same period last year, operating (EBITDA) margins now 45.41% from -68.21%.
Year-on-year change in operating cash flow of 193.03% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
Earnings growth from operating margin improvements as well as one-time items.
The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31
Relevant Numbers (Quarterly)
Revenues (mil) 2.13 1.94 1.84 1.17 1.6
Revenue Growth (%YOY) 33.29 -27.96 -40.54 -53.55 -48.36
Earnings (mil) 0.89 0.65 0.09 -0.74 -1.5
Earnings Growth (%YOY) 159.56 250.63 185.12 -310.33 -1198.87
Net Margin (%) 41.95 33.21 4.74 -62.89 -93.87
EPS 0.11 0.08 0.01 -0.09 -0.18
Return on Equity (%) 46.75 37.23 5.32 -37.59 -60.61
Return on Assets (%) 34.88 27.85 3.94 -29.98 -51.38
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