Sino-Global Shipping America, Ltd. (NASDAQ: SINO) spotted trading -53.09% off 52-week high price. On the other end, the stock has been noted 35.62% away from the low price over the last 52-weeks. The stock changed 4.89% to recent value of $0.38. The stock transacted 50337 shares during most recent day however it has an average volume of 135.84K shares. The company has 16.82M of outstanding shares and 12.93M shares were floated in the market.
Sino-Global Shipping America, Ltd. (SINO) reported its financial and operating results for its fiscal 2020 third quarter ended March 31, 2020. The Company has also provided more detailed information in its quarterly report on Form 10-Q filed recently with the U.S. Securities and Exchange Commission.
Fiscal Third Quarter 2020 Financial Review
The Company stated total revenues of $1,353,979 for the quarter ended March 31, 2020, contrast to $22,773,139 stated in the same period last year. The decrease was largely Because of the fact that in certain freight logistics contracts that the Company entered into with consumers starting from the first quarter of fiscal year 2020, only acted as an agent and did not control the services rendered to the consumers, as Sino-Global was not the primary responsible party to fulfill the services. As such revenues on these contracts are accounted for on a net basis. The decrease was also Because of the decrease in revenues from inland transportation management services as service contracts with consumers have expired and there was no new business for this section.
The Company’s gross profit for the 2020 fiscal third quarter was $464,872, contrast to $1,697,944 in the same period last year. Gross profit margin during the quarter was about 34.3%, contrast to about 7.5% in the same period last year. The increase was largely Because of the Company’s shifting of business focus towards its agency business for providing freight logistics services where the Company acted solely as an agent and did not control the services rendered to its consumers.
Balance Sheet Information
The Company holds no long-term debt.
As of March 31, 2020, the Company’s working capital was $3,525,468 and the Company had cash of $143,112.
The Company’s allowance for doubtful accounts was about $6.7M as of March 31, 2020 contrast with allowance of doubtful accounts of about $5.7M as of June 30, 2019. As the Company continues to maintain long-standing relationships with its consumers, it will work with these parties to monitor their payments closely and it does not believe that there are any important collection issues with respect to accounts receivables, net of allowance.
Its earnings per share (EPS) expected to touch remained -263.90% for this year while earning per share for the next 5-years is expected to reach at # ref. SINO has a gross margin of 16.70% and an operating margin of -19.20% while its profit margin remained -20.20% for the last 12 months. According to the most recent quarter its current ratio was 3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.16% from the mean of 20 days, 0.62% from mean of 50 days SMA and performed -28.23% from mean of 200 days price. Company’s performance for the week was 0.00%, -0.24% for month and YTD performance remained -15.56%.
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