Shiner International Inc fka UECN

[Huggy Bear]

BEST Q1 lowlights:

We had a net loss of ($554,520) during the three months ended March 31, 2012, which was a $1.5 million, or 155.2%, decrease from a $1.0 million net income during the same 2011 period. The decrease in net income was mainly due to increased labor costs, depreciation of our new property, no other income from a former landlord (related to payments received for vacating a leased property early in 2011) , offset by an increase in subsidy income.

Our selling, general and administrative expenses increased by 98.1%, or $1.1 million, to $2.3 million for the three months ended March 31, 2012, compared to $1.2 million in the same 2011 period. General and administrative expenses include rent, management and staff salaries, insurance, marketing, accounting, legal, and research and development expenses ("R&D"). Although we have strict standards to control our general and administrative expenses, during the 2012 period we increased our R&D expenditures, as compared to the 2011 period. The increase in selling, general and administrative expenses is mainly due to an increase of $0.5 million in R&D expenses and an increase of $0.2 million for marketing activities.

http://biz.yahoo.com/e/120521/best10-q.html