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Sino-Global Shipping America net income increased 48.2%

Staff writer |
Sino-Global Shipping America announced its financial results for the quarter and year ended June 30, 2015 with two consecutive years of net income despite difficult macroeconomic conditions and decline in revenues from our shipping agency and shipping and chartering services.

Gross and operating margin increased from 34.6% and 2.6%, respectively, for the year ended June 30, 2014 to 47.6% and 9%, respectively for the same period of 2015. The margin improvement is attributable largely to our diversified service platform and favorable service mix in fiscal year 2015.

Net income increased 48.2% from $434,486 for the year ended June 30, 2014 to $643,922 for the same period in 2015 due mainly to solid contribution from our higher margin inland transportation management services.

Year-over-year margin improvement and growth in net income due primarily to our restructuring efforts that began approximately 2 years ago and our decision to incorporate inland transportation management services into our integrated service platform.

Inland transportation management services grew strongly, with revenues rising to almost $4.8 million and gross profit topping $4.0 million in the year ended June 30, 2015, which sharply contrasts to revenues of approximately $2.2 million and gross profit of approximately $1.9 million for the preceding year.

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