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Universal Travel Group Reports Operating Results (10-Q/A)
Posted by: gurufocus (IP Logged)
Date: July 22, 2011 12:01PM

Universal Travel Group (UTA) filed Amended Quarterly Report for the period ended 2010-03-31. Universal Travel Group has a market cap of $78.8 million; its shares were traded at around $3.96 with and P/S ratio of 0.81.



Highlight of Business Operations:

Costs of services for the three months ended March 31, 2010 were $14,169,485 compared to $10,306,052 for the same period in 2009, an increase of $3,863,433, or approximately 37.5%. The comparatively higher costs of services result from higher percentage of packaged tours in our revenues.

Costs of services from air-ticketing were $1,367,871 for the three months ended March 31, 2010, compared to $869,988 for the same period last year, an increase of $497,883, or approximately 57.2%. The increase is mostly due to our reclassification of costs associated.

Costs of services from hotel-reservation were $998,417 for the three months ended March 31, 2010, compared to $773,463 for the same period last year, an increase of $224,954, or approximately 29.1%. The increase is partly due to our reclassification of costs associated.

Costs of services from packaged-tour were $11,803,197 for the three months ended March 31, 2010, compared to $8,662,601 for the same period last year, an increase of $3,140,596, or approximately 36.3%. The increase is in tandem with the increase of revenue.

Gross profit in our hotel reservation segment was $2,031,689 for the three months ended March 31, 2010 compared to $1,743,368 for the same period last year, an increase of $288,321 approximately 16.5%. Gross profit margin in this segment for the three months ended March 31, 2010 was 67.1% compared to 69.3% for the same period 2009, a decrease of approximately 2.2%. The decrease of gross profit margin was mainly due to our reclassification of certain costs associated.

Gross profit in our packaged tour segment was $1,686,501 for the three months ended March 31, 2010 compared to $1,491,433 for the same period last year, an increase of $195,068, or approximately 13.1%. Gross profit margin in this segment for the three months ended March 31, 2010 was 12.5% compared to 14.7% for the same period 2009, a decrease of approximately 2.2%. The reason for the lower gross profit margin is that we offered discounts to certain big customers. Despite the decrease in gross profit margin, total gross profit increased in this segment as a result of the increased volume in our packaged travel businesses operated by the existing businesses, as well as the additional three new acquisitions.

Read the The complete Report



Stocks Discussed: UTA,
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