EL MONTE, Calif., May 15, 2018 /PRNewswire/ -- Yew Bio-Pharm Group, Inc. ("Yew Bio" or the "Company") (YEWB), a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine, handicraft products made from yew timber and yew candle and soap made with yew essential oil in China, today reported financial results for the three months ended March 31, 2018.

2018 First Quarter Results

Total revenues for the first quarter of 2018 decreased 61.51% to $3.0 million from $7.9 million a year ago. Sales of TCM raw materials amounted to 55.93% of total revenues; sales of handicrafts amounted to 0.04 % of total revenues and sales of "Others" segment consisting with yew essential oil candle, yew essential oil soap, pine needle extract, complex Taxus Cuspidate and composite northeast yew extract amounted to 44.03% of total revenues.

For the 2018 first quarter, gross profit was $479,295, or 15.81% of total revenues, compared with $519,980, or 6.60% of total revenues for the comparable 2017 quarter. The increase in the overall gross profit margin were primarily attributable to the higher gross margin yields of TCM raw materials and "Others" segments.

Operating expenses decreased 12.91% to $259,872 for the quarter ended March 31, 2018, from $298,403 in the year-ago quarter. The decreasing was primarily attributable to the decrease in stock-based compensation.

Net income for the three months ended March 31, 2018 decreased 12.30% to $149,006 from $169,904 in the same quarter last year due to the decrease in overall total revenues. Earnings per diluted share for the three months ended March 31, 2018 was $0.00 as compared to $0.00 for the same period last year.

"Our business strategies are mainly focused on TCM raw materials and Others segments at present." said Mr. Zhiguo Wang, Chairman and Chief Executive Officer of Yew Bio-Pharm Group. "The overall total revenues of the first quarter 2018 was decreased as compared with the same quarter of last, which was mainly attributable to the market demand decreasing. Meanwhile, we are also developing different functional products which contain our yew materials. We hope these upcoming products will enrich our product mix and attract different target consumers."

"On May 11th, we established our second retail location at Arcadia, California. The location is positioned at a very famous shopping center of southern California, Westfield Santa Anita. We set up this location to target high-end customers, as well as to promote our yew related products. We believe this newly added location will benefit our U.S. customer base, and also contribute to the revenue of the company."

ABOUT YEW BIO-PHARM GROUP, INC

Yew Bio-Pharm Group, Inc., through its operating entity, Harbin Yew Science and Technology Development Co., Ltd. (HDS), is a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine (TCM) and products made from yew timber in China. Raw material from the species of yew tree that the Company grows contains taxol, and TCM containing yew raw materials has been approved as a traditional Chinese medicine in China for secondary treatment of certain cancers.  The Company uses a patented, accelerated growth technology to speed the growth and maturity and commercialization of yew trees and believes that it is one of the few companies possessing a permit to sell them. Yew Bio-Pharm also recently established a division to focus on organic foods and dietary supplements with the aim of developing new business opportunities in related industries. To learn more, please visit www.yewbiopharm.com

SAFE HARBOR

This press release forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.  These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.  A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our ability to collect from our largest customers; our dependence on a small number of customers for raw materials, including a related party; our ability to continue to purchase raw materials at relatively stable prices; our dependence on a small number of customers for our yew trees for reforestation; our ability to market successfully raw materials used in the manufacture of traditional Chinese medicines; and our ability to receive continued preferential tax treatment for the sale of yew trees and potted yew trees.  From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 10-K. Yew Bio does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.

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SOURCE Yew Bio-Pharm Group, Inc.