Ikang Healthcare (KANG) Annual Income Statement

Income Statement Summary

Ikang Healthcare Group (KANG) annual income statement covering fiscal 2013 through 2018, as reported to the SEC.

Ikang Healthcare Group reported net revenues of $563.93M in fiscal 2018, up 29.4% from $435.71M in fiscal 2017.
Gross profit was $238.28M, up 37.3% from $173.58M. That is a gross margin of 42.3%.
Income from operations was $12.37M, down 7% from $13.3M. Operating margin was 2.2%.
Net income/ was -$17.31M, a bigger loss than the $11.25M in fiscal 2017. Net margin was -3.1%.
Diluted (in dollars per share) was -$0.50, a bigger loss than the $0.33 in fiscal 2017.
Cost of revenues took 57.7% of net revenues, research and development expenses 0.54% and SG&A expense 22.4%.

Net revenues have grown 33.3% a year on average since fiscal 2013, from $133.87M to $563.93M, rising in every year shown.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Mar'18	Mar'17	Mar'16	Mar'15	Mar'14	Mar'13
Net revenues
563,932	435,713	370,812	290,781	202,304	133,871	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net revenues						563,932	435,713	370,812	290,781	202,304	133,871	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net revenues
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net revenues						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues
325,656	262,134	210,909	154,943	106,405	71,079	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues						325,656	262,134	210,909	154,943	106,405	71,079	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
238,276	173,579	159,903	135,838	95,899	62,792	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						238,276	173,579	159,903	135,838	95,899	62,792	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses:
Selling and marketing expenses
96,594	74,304	64,763	41,059	28,879	18,486	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling and marketing expenses						96,594	74,304	64,763	41,059	28,879	18,486	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative expenses (including share-based compensation expenses of $1,949, $1,941 and $34,822 in 2016, 2017 and 2018, respectively)
126,255	82,783	65,422	52,331	32,053	23,447	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative expenses (including share-based compensation expenses of $1,949, $1,941 and $34,822 in 2016, 2017 and 2018, respectively)						126,255	82,783	65,422	52,331	32,053	23,447	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development expenses
3,055	3,194	3,716	1,401	1,603	1,270	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Research and development expenses						3,055	3,194	3,716	1,401	1,603	1,270	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Write-off of leasehold improvement
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Write-off of leasehold improvement						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
225,904	160,281	133,901	94,791	62,535	43,203	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						225,904	160,281	133,901	94,791	62,535	43,203	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income from operations
12,372	13,298	26,002	41,047	33,364	19,589	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income from operations						12,372	13,298	26,002	41,047	33,364	19,589	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from forward contracts
-	-	-	-8	57	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from forward contracts						-	-	-	-8	57	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
20,191	13,880	4,603	2,466	1,331	1,106	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						20,191	13,880	4,603	2,466	1,331	1,106	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income
382	939	785	699	93	100	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						382	939	785	699	93	100	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income
-	-	1,874	883	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income						-	-	1,874	883	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income/(loss)before provision for income taxes and gain/(loss) from equity method investments
-7,437	357	24,058	40,155	32,183	18,583	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income/(loss)before provision for income taxes and gain/(loss) from equity method investments						-7,437	357	24,058	40,155	32,183	18,583	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before provision for income taxes and loss from equity method investment
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before provision for income taxes and loss from equity method investment						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expenses
6,791	3,354	5,838	13,280	10,101	6,134	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expenses						6,791	3,354	5,838	13,280	10,101	6,134	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income/(loss) before loss from equity method investments
-14,228	-2,997	18,220	26,875	22,082	12,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income/(loss) before loss from equity method investments						-14,228	-2,997	18,220	26,875	22,082	12,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from equity method investments
-2,448	-9,547	-1,732	521	-156	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss from equity method investments						-2,448	-9,547	-1,732	521	-156	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income/(loss)
-16,676	-12,544	16,488	27,396	21,926	12,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income/(loss)						-16,676	-12,544	16,488	27,396	21,926	12,449	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net income/(loss) attributable to non-controlling interest
633	-1,293	-1,837	283	319	338	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net income/(loss) attributable to non-controlling interest						633	-1,293	-1,837	283	319	338	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income/(loss) attributable to iKang Healthcare Group, Inc.
-17,309	-11,251	18,325	27,113	21,607	12,111	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income/(loss) attributable to iKang Healthcare Group, Inc.						-17,309	-11,251	18,325	27,113	21,607	12,111	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deemed dividend to preferred shareholders
-	-	-	100	20,436	84,306	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deemed dividend to preferred shareholders						-	-	-	100	20,436	84,306	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Undistributed earnings allocated to preferred shareholders
-	-	-	201	7,310	2,818	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Undistributed earnings allocated to preferred shareholders						-	-	-	201	7,310	2,818	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Undistributed earnings allocated to preferred shareholders
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Undistributed earnings allocated to preferred shareholders						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income/(loss) attributable to common shareholders of iKang Healthcare Group, Inc.
-17,309	-11,251	18,325	26,812	-6,139	-75,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income/(loss) attributable to common shareholders of iKang Healthcare Group, Inc.						-17,309	-11,251	18,325	26,812	-6,139	-75,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income/(loss) per share attributable to common shareholders of iKang Healthcare Group, Inc.
Basic (in dollars per share)
-0.50	-0.33	0.55	0.82	-0.97	-11.22	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						-0.50	-0.33	0.55	0.82	-0.97	-11.22	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
-0.50	-0.33	0.54	0.79	-0.97	-11.22	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						-0.50	-0.33	0.54	0.79	-0.97	-11.22	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average shares used in calculating net (loss) income per common share
Basic (in shares)
34,295	34,060	33,583	32,884	6,340	6,683	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in shares)						34,295	34,060	33,583	32,884	6,340	6,683	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)
34,295	34,060	34,235	34,114	6,340	6,683	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)						34,295	34,060	34,235	34,114	6,340	6,683	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx