Origin Agritech Limited Reports Unaudited Financial Results for the Year Ended September 30, 2012
- Restructuring Program Completed with 26% Headcount Reduction - Core Business Revenue Increased 23% Year-over-Year - Operating Cash Flow increased 121% Year-over-Year to RMB82.71 million (US$13.04 million) - Net Loss per Share Improved Significantly to US$(0.01) in FY2012 from US$(0.16) in FY2011
Outlook
With the transitional year behind us and restructuring mostly completed, we believe Origin is ready to be back to the growth trend, reversing the trend of the last several years. We expect our earnings performance to improve as well in FY2013 with the growth of our focused businesses and rigorous cost management.
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