Country Style Cooking Restaurant Chain Reports Third Quarter 2012 Financial Results

 Country Style Cooking Restaurant Chain Reports Third Quarter 2012 Financial
                                   Results

3Q12 Revenues up 12.6% YoY to RMB327.0 Million

3Q12 Net Income up 117.4% YoY to RMB31.9 Million

3Q12 Adjusted Net Income (non-GAAP) up 95.2% YoY to RMB35.6 Million

PR Newswire

CHONGQING, China, Nov. 12, 2012

CHONGQING, China, Nov. 12, 2012 /PRNewswire/ -- Country Style Cooking
Restaurant Chain Co., Ltd. (NYSE: CCSC) ("Country Style Cooking" or the
"Company"), a fast-growing quick service restaurant chain in China, today
announced its unaudited financial results for the third quarter of 2012.

Third Quarter 2012 Financial Highlights

  oRevenues in the third quarter of 2012 were RMB327.0 million ($52.0
    million), an increase of 12.6% from RMB290.3 million in the same quarter
    of 2011.
  oComparable restaurant sales decreased by 5.3% from the same quarter of
    2011. There were 146 restaurants in the comparison.
  oRestaurant level operating margin was 19.5%, an increase of 110 basis
    points from the same quarter of 2011.
  oNet income for the third quarter of 2012 was RMB31.9 million ($5.1
    million), an increase of 117.4% from RMB14.7 million in the same quarter
    of 2011. Adjusted net income (non-GAAP), which excludes share-based
    compensation expenses, was RMB35.6 million ($5.7 million), an increase of
    95.2% from RMB18.2 million in the same quarter of 2011.
  oDiluted net income per American depositary share ("ADS") was RMB1.22
    ($0.19). Adjusted diluted net income per ADS (non-GAAP), which excludes
    share-based compensation expenses, was RMB1.36 ($0.22). Each ADS
    represents four ordinary shares of the Company.
  oTotal number of restaurants increased by a net of 21 in the third quarter
    of 2012 to 238 restaurants as of September 30, 2012, covering 27 cities
    and up from 186 restaurants as of September 30, 2011.

Ms. Hong Li, chairman and chief executive officer of Country Style Cooking,
commented, "We are pleased to report healthy revenue growth and net income
increase for the third quarter of 2012. Our operating margin continued to
improve and showed both annual and sequential increases in the third quarter.
During the period, we accelerated network expansion and added a net of 21 new
restaurants. We expect to achieve our annual restaurant growth targets."

Ms. Hong Li continued, "Throughout the third quarter, we carried out a trial
run of 15 quick service, canteen-style restaurants under the Chinese brand
name 'Dami Xiansheng' (which means 'Mr. Rice' in English). We located the Mr.
Rice restaurants near large office buildings and in industrial parks in
Chongqing and three other markets. The trial results have been encouraging,
with customers offering positive remarks about the restaurant's friendly
atmosphere and wide range of cuisine options. We believe that the Mr. Rice
brand might offer a promising new stream of revenues for the Country Style
Cooking restaurant network."

Mr. Adam Zhao, chief financial officer of Country Style Cooking, added, "I am
encouraged by the results of our cost control measures and increased
operational profitability during the quarter, especially in today's
inflationary environment. During our peak season, we succeeded in building
customer traffic in order to create a stronger revenue base going forward. We
are happy to have achieved record-high revenue in the third quarter but also
want to see greater improvement with same store sales growth. Our efforts to
boost same store sales performance include new initiatives covering brand
enhancement, mobile-phone apps to facilitate orders and deliveries, and plans
for a prepaid card program. "

Third Quarter 2012 Financial Performances

Revenues in the third quarter of 2012 increased by 12.6% to RMB327.0 million
($52.0 million) from RMB290.3 million in the same quarter of 2011. Revenue
growth was primarily supported by the Company's expanding restaurant network.
During the third quarter of 2012, Country Style Cooking added a net of 21
restaurants, bringing the total restaurant count to 238 as of September 30,
2012, compared to its total restaurant count of 186 as of September 30, 2011.
Comparable restaurant sales decreased by 5.3% compared with the same quarter
of 2011. There were 146 restaurants in the comparison.

Costs of food and paper increased by 10.8% to RMB144.3 million ($23.0 million)
in the third quarter of 2012 from RMB130.2 million in the same quarter of
2011, primarily as a result of restaurant expansion and, to a lesser degree,
increased food costs. As a percentage of revenues, cost of food and paper
decreased to 44.1% in the third quarter of 2012 from 44.9% in the same quarter
of 2011. Since the first quarter of 2012, restaurant staff catering and
welfare expenses have been reclassified from food and paper and other
restaurant operating expense to the category of restaurant wages and related
expenses. Prior period numbers have been reclassified accordingly to conform
with the current means of data presentation. For details, please refer to note
1 in the Company's Condensed Consolidated Statements of Income.

Restaurant wages and related expenses increased by 13.3% to RMB56.9 million
($9.1 million) in the third quarter of 2012 from RMB50.2 million in the same
quarter of 2011. The increase was attributable to increased wage levels. As a
percentage of revenues, restaurant wages and related expenses increased
slightly to 17.4% in the third quarter of 2012 from 17.3% in the same quarter
of 2011. ^

Restaurant rent expenses increased by 17.9% to RMB30.3 million ($4.8 million)
in the third quarter of 2012 from RMB25.7 million in the same quarter of 2011.
As with other expense categories, the increase was primarily due to the
expansion of the Company's restaurant network. As a percentage of revenues,
restaurant rental expenses increased to 9.3% in the third quarter of 2012 from
8.9% in the third quarter of 2011.

Restaurant utility expenses increased by 4.4% to RMB19.6 million ($3.1
million) in the third quarter of 2012 from RMB18.8 million in the same quarter
of 2011. As a percentage of revenues, restaurant utility expenses were 6.0% in
the third quarter of 2012, slightly down from 6.5% in the third quarter of
2011.

Other restaurant operating expenses increased by 3.5% to RMB12.2 million ($1.9
million) in the third quarter of 2012 from RMB11.8 million in the same quarter
of 2011. As a percentage of revenues, other restaurant operating expenses
decreased slightly to 3.7% in the third quarter of 2012 from 4.0% in the third
quarter of 2011.

Restaurant-level operating margin was 19.5% in the third quarter of 2012, an
increase of 110 basis points over the same quarter of 2011. The increase was
primarily due to effective cost control measures.

Selling, general and administrative (SG&A) expenses remained consistent at
RMB17.2 million ($2.7 million) in the third quarter of 2012, compared to
RMB17.2 million in the same quarter of 2011, reflecting a combination of
offsetting factors including expanded restaurant network, increased spending
on administrative staff cost and effective cost control measures. Share-based
compensation expenses included in SG&A was RMB2.6 million ($0.4 million) in
the third quarter of 2012, compared to RMB2.8 million in the third quarter of
2011. As a percentage of revenues, SG&A expenses were 5.3% in the third
quarter of 2012, slightly down from 5.9% in the third quarter of 2011.

Pre-opening expense for the third quarter of 2012 was RMB3.2 million ($0.5
million), representing a decrease of 40.2% as compared to RMB5.3 million in
the same quarter of 2011, primarily because of tighter cost controls as well
as fewer new restaurants opened in the third quarter of 2012. As a percentage
of revenues, pre-opening expense decreased to 1.0% in the third quarter of
2012 from 1.8% in the same quarter of 2011.

Depreciation expense for the third quarter of 2012 was RMB15.6 million ($2.5
million), representing an increase of 58.2% as compared to RMB9.9 million in
the same quarter of 2011, primarily because of the increase in total fixed
assets as a result of restaurant network expansion. As a percentage of
revenues, depreciation expense increased to 4.8% in the third quarter of 2012
from 3.4% in the same quarter of 2011.

Impairment charges were RMB4.0 million ($0.6 million) in the third quarter of
2012, representing costs related to asset impairment with eight
underperforming restaurants, two of which the Company plans to close.

Income from operations for the third quarter of 2012 was RMB23.6 million ($3.8
million), representing an increase of 16.0% as compared to RMB20.3 million in
the same quarter of 2011.

Interest income for the third quarter of 2012 was RMB5.0 million ($0.8
million), representing a decrease of 11.0% as compared to RMB5.6 million in
the same quarter of 2011.

Foreign currency exchange gain for the third quarter of 2012 was RMB0.3
million ($44,000), as compared to a loss of RMB4.1 million in the same quarter
of 2011.

Other income for the third quarter of 2012 was RMB12.7 million ($2.0 million)
mainly representing government subsidies received, as compared to RMB4.1
million in the same quarter of 2011.

Income tax expense in the third quarter of 2012 was RMB9.7 million ($1.5
million), representing a decrease of 13.7% as compared to RMB11.2 million in
the same quarter of 2011. As previously disclosed in the Company's press
release on June 1, 2012, the Company's subsidiary in Chongqing was granted a
preferential tax rate of 15% for the years 2011 to 2020. As a result, the
Company's estimated effective tax rate saw a significant decrease from the
same quarter last year.

Net income was RMB31.9 million ($5.1 million), representing an increase of
117.4% from RMB14.7 million in the third quarter of 2011. Adjusted net income
(non-GAAP), which excludes share-based compensation expenses, was RMB35.6
million ($5.7 million) in the third quarter of 2012, compared to RMB18.2
million in the third quarter of 2011.

Diluted net income per ADS in the third quarter of 2012 was RMB1.22 ($0.19),
compared to RMB0.56 in the third quarter of 2011. Adjusted diluted net income
per ADS (non-GAAP), which excludes share-based compensation expenses, was
RMB1.36 ($0.22) in the third quarter of 2012, compared to RMB0.68 in the third
quarter of 2011. The Company had approximately 26.2 million weighted average
diluted ADSs outstanding during the quarter ended September 30, 2012.

EBITDA (non-GAAP), defined as net income before interest, income tax
(benefit)/expense, depreciation and amortization, was RMB52.2 million ($8.3
million) in the third quarter of 2012, compared to RMB30.2 million from the
same quarter of 2011. Adjusted EBITDA (non-GAAP), defined as EBITDA excluding
foreign exchange gain/loss, other income, impairment charges and share-based
compensation expenses, was RMB46.9 million ($7.5 million) in the third quarter
of 2012, compared to RMB34.6 million in the same quarter of 2011.

As of September 30, 2012, the Company had cash, cash equivalents and
short-term investments of RMB547.4 million ($87.1 million), compared to
RMB517.5 million as of December 31, 2011.

Net cash provided by operating activities was RMB145.8 million ($23.2 million)
for the nine months ended September 30, 2012, up from RMB68.9 million in the
same period of 2011.

Outlook

For the fourth quarter of 2012, the Company currently estimates that its
revenues will be between RMB300 million ($47.7 million) and RMB310 million
($49.3 million), representing year-over-year growth of between approximately
10% and 14%.

For the full year of 2012, the Company expects revenues in the range of
RMB1,192 million ($190 million) to RMB1,202 million ($191 million),
representing year-over-year growth of between approximately 17% and 18%.

These forecasts reflect the Company's current and preliminary view, which are
subject to change.

Definitions

The following definitions apply to these terms used throughout this release:

Comparable restaurants are defined as restaurants that were open throughout
the periods under comparison. A restaurant is included in the comparison once
it has been in operation for 12 full months before the start of the quarter.
Comparable restaurants exclude (i) restaurants whose operational area has
increased or decreased by more than 5% during the periods under comparison
(ii) restaurants that were closed for more than 5% of total days in any period
under comparison and (iii) restaurants that were operated under different
business style in the comparison period.

Restaurant level operating margin represents total revenue less restaurant
operating costs (including food and paper, restaurant wages and related
expenses, restaurant rent expenses, restaurant utilities expenses and other
restaurant operating expenses), expressed as a percentage of total revenues.

Exchange Rate

This announcement contains translations of certain Renminbi amounts into US
dollars at specified rates solely for the convenience of readers. Unless
otherwise noted, all translations from Renminbi to US dollars in this
announcement were made at the noon buying rate of RMB6.2848 to US$1.00 on
September 28, 2012 in the City of New York for cable transfers in Renminbi per
U.S. dollar as certified for customs purposes by the Federal Reserve Bank of
New York.

Conference Call

The Company will host a conference call at 7:30 pm, Eastern Time on November
12, 2012, which is 8:30 am, Beijing Time on November 13, 2012, to discuss
third quarter 2012 results and answer questions from investors. Listeners may
access the call by dialing:

US:      +1-718-354-1231

International:  +65-6723-9381
Hong Kong:    +800-930-346
China Domestic:            +800-819-0121
China Domestic Mobile:                  +400-620-8038
Passcode: 55766966


A live and archived webcast of the conference call will be available at
http://ir.csc100.com

About Country Style Cooking Restaurant Chain Co., Ltd.

Country Style Cooking Restaurant Chain Co., Ltd. (NYSE: CCSC) ("Country Style
Cooking") is a fast-growing quick service restaurant chain in China, offering
delicious, everyday Chinese food to customers who desire fast and affordable
quality meals. Country Style Cooking directly operates all of its restaurants
and is the largest quick service restaurant chain in Chongqing municipality,
home to Sichuan cuisine, one of the best-known Chinese regional cuisines.
Additional information about Country Style Cooking can be found at
http://ir.csc100.com.

Contact:

Country Style Cooking Restaurant Chain Co., Ltd.
Adam Zhao
Chief Financial Officer
Phone: +86-23-8866-8866
Email: ir@csc100.com

ICR Inc.
Rob Koepp
Phone: +86-10-6583-7516 or +1-646-328-2520
Email: robert.koepp@icrinc.com

Non-GAAP Disclosure

To supplement the unaudited consolidated financial information presented in
accordance with United States Generally Accepted Accounting Principles
("GAAP"), the Company uses the following measures defined as non-GAAP measures
under Regulation G and Item 10(e) of Regulation S-K of SEC: adjusted net
income, adjusted diluted earnings per ADS, EBITDA and adjusted EBITDA. The
presentation of these non-GAAP financial measures is not intended to be
considered in isolation or as a substitute for the financial information
prepared and presented in accordance with GAAP. We define adjusted net income
as net income excluding share-based compensation expenses. We define adjusted
diluted earnings per ADS as diluted earnings per ADS excluding share-based
compensation expenses. We define EBITDA as earnings before interest, income
tax expense, depreciation and amortization. We define adjusted EBITDA as
EBITDA excluding foreign exchange gain or loss, other income or expense,
impairment charges and share-based compensation expenses. For more information
on these non-GAAP financial measures, please see the tables captioned
"Supplementary Metrics—Reconciliations of GAAP to Non-GAAP Financial Measures"
set forth at the end of this release.

The Company believes that in conjunction with GAAP financial measures, these
non-GAAP financial measures provide meaningful supplemental information
regarding its operating performance and liquidity. The Company believes that
both management and investors benefit from referring to these non-GAAP
financial measures in assessing its performance and when planning and
forecasting future periods. These non-GAAP financial measures also facilitate
management's internal comparisons to the Company's historical performance and
liquidity. Management uses both GAAP and non-GAAP information in evaluating
and operating the business internally and therefore deems it important to
provide all of these information to investors. Management also believes that
these non-GAAP financial measures facilitate comparisons to the Company's
historical performance.

One of the limitations of using adjusted net income, adjusted diluted earnings
per ADS, EBITDA and adjusted EBITDA is that they do not include all items that
impact the Company's net income for the relevant periods. A limitation of
using these non-GAAP measures is that they exclude certain items including
share-based compensation charges that have been and will continue to be for
the foreseeable future a significant recurring expense in our business. In
addition, the Company's EBITDA and adjusted EBITDA may not be comparable to
EBITDA, adjusted EBITDA or similarly titled measures utilized by other
companies since such other companies may not calculate EBITDA and adjusted
EBITDA in the same manner as the Company does. Management compensates for
these limitations by providing specific information regarding the GAAP amounts
excluded from each non-GAAP measure. The accompanying tables have more details
on the reconciliations between GAAP financial measures that are most directly
comparable to non-GAAP financial measures.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements. Among
other things, the outlook for the fourth quarter 2012 and the full year of
2012, quotations from management in this announcement, as well as Country
Style Cooking's strategic and operational plans, contain forward-looking
statements. The Company may also make written or oral forward-looking
statements in its reports filed with, or furnished to, the U.S. Securities and
Exchange Commission, in its annual reports to shareholders, in press releases
and other written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not historical
facts, including statements about the Company's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve inherent risks
and uncertainties. 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: uncertainties regarding our ability to open
and profitably operate new restaurants and manage our growth effectively and
efficiently; risks associated with changing consumer taste and discretionary
spending; uncertainties regarding our ability to maintain and enhance the
attractiveness of our restaurants and our brand and image; risks related to
instances of food-borne illnesses, health epidemics and other outbreaks;
uncertainties regarding our ability to respond to competitive pressures; and
uncertainties associated with factors typically affecting the consumer food
services industry in general. Further information regarding these and other
risks is included in the Company's reports filed with, or furnished to the
Securities and Exchange Commission. All information provided in this press
release and in the attachments is as of the date of this press release, and
Country Style Cooking undertakes no duty to update such information, except as
required under applicable law.

Condensed Consolidated Balance Sheets

(Amounts in thousands, except shares data)

Unaudited)


                                  As of December 31,   As of September 30,
                                  2011                  2012
                                  RMB                   RMB          US$
ASSETS
Current assets:
 Cash and cash equivalents       327,546               337,350      53,677
 Short-term investments          190,000               210,000      33,414
 Due from related parties        100                   240          38
 Inventories                     48,442                36,539       5,814
 Prepaid rent                    10,674                14,349       2,283
 Prepaid expenses and other      15,078                18,280       2,909
current assets
 Deferred income taxes-current   3,216                 2,071        330
Total current assets              595,056               618,829      98,465
Property and equipment, net       298,125               366,395      58,299
Goodwill                          6,019                 6,019        958
Deferred income taxes - non       4,879                 3,957        630
current
Deposits for leases               16,695                17,367       2,763
Total assets                      920,774               1,012,567    161,115
Current liabilities:
 Accounts payable                43,702                51,318       8,165
 Deferred revenue                4,303                 3,667        583
 Due to related parties          -                     21           3
 Accrued payroll                 22,764                24,458       3,892
 Income taxes payable            17,554                6,092        969
 Other current liabilities       34,778                41,578       6,619
Total current liabilities         123,101               127,134      20,231
Deferred rent - non current       15,610                21,566       3,431
Prepaid subscription              391                   218          35
Advanced receipts from depositary 3,768                 3,428        545
bank
Total liabilities                 142,870               152,346      24,242
Equity:
Ordinary shares ($0.001 par
value, 1,000,000,000 shares
 authorized, 103,844,239 and
104,317,980 shares issued         741                   744          118
 and outstanding as of
December 31, 2011 andSeptember
 30, 2012, respectively)
 Additional paid-in capital     702,995               716,095      113,941
 Retained earnings              82,432                151,426      24,094
 Accumulated other              (8,264)               (8,044)      (1,280)
comprehensive loss
Total equity                      777,904               860,221      136,873
Total liabilities and equity      920,774               1,012,567    161,115



Condensed Consolidated Statements of Income

(Amounts in thousands, except percentages, shares, per share and per ADS data)

(Unaudited)


                    For the three months ended September 30,
                    2011                    2012
                    RMB           %         RMB          %        US$
Revenue -           290,289       100.0     327,004      100.0    52,031
restaurant sales
Costs and expenses:
 Restaurant
expenses:
 Food and     130,230       44.9      144,347      44.1     22,968
paper(1)
 Restaurant
wages and related   50,204        17.3      56,880       17.4     9,050
expenses(1)(2)
 Restaurant   25,744        8.9       30,348       9.3      4,829
rent expense
 Restaurant   18,826        6.5       19,648       6.0      3,126
utilities expense
 Other
restaurant          11,775        4.0       12,192       3.7      1,940
operating
expenses(1)
 Selling, general
and administrative  17,172        5.9       17,219       5.3      2,740
expenses(2)
 Pre-opening      5,275         1.8       3,155        1.0      502
expenses
 Depreciation     9,862         3.4       15,598       4.8      2,482
 Impairment       870           0.3       4,038        1.2      643
charges
Total operating     269,958       93.0      303,425      92.8     48,280
expenses
Income from         20,331        7.0       23,579       7.2      3,751
operations
Interest income     5,595         1.9       4,978        1.5      792
Foreign exchange    (4,105)       (1.4)     274          0.1      44
gain/(loss)
Other income        4,081         1.4       12,736       3.9      2,026
Income before       25,902        8.9       41,567       12.7     6,613
income taxes
Income tax expense  11,242        3.9       9,698        3.0      1,543
Net income          14,660        5.0       31,869       9.7      5,070
Basic net income    0.14                    0.31                  0.05
per share
Diluted net income  0.14                    0.30                  0.05
per share
Basic net income    0.56                    1.22                  0.19
per ADS
Diluted net income  0.56                    1.22                  0.19
per ADS
Basic weighted
average ordinary    103,640,620             104,290,645           104,290,645
shares outstanding
Diluted weighted
average ordinary    105,462,012             104,677,531           104,677,531
shares outstanding


(1) Since the first quarter of 2012, restaurant staff catering and welfare
expenses have been reclassified from food and paper and other restaurant
operating expense to the category of restaurant wages and related expenses.
Prior period numbers have been reclassified accordingly to conform with the
current presentation.

(2) Includes share-based compensation expenses of RMB3.6 million and
RMB3.7million ($0.6 million) for the three months ended September 30, 2011 and
2012, respectively.



Condensed Statements of Consolidated Comprehensive Income

(Amounts in thousands)

(Unaudited)


                                      For the three months ended September 30,
                                      2011            2012
                                      RMB             RMB             US$
Net income                            14,660          31,869          5,070
Other comprehensive income/(loss),
net of tax:
 Foreign currency translation     (417)           89              14
adjustments
Comprehensive income                  14,243          31,958          5,084



Condensed Consolidated Cash Flow Statements

(Amounts in thousands)

(Unaudited)


                                       For the nine months ended September 30,
                                       2011           2012
                                       RMB            RMB            US$
Operating activities:
 Net income                          11,980         68,994         10,978
 Adjustments to reconcile net income
to net cash provided from
 operating activities:
 Loss on disposals of property    741            2,145          341
and equipment
 Impairment charges               5,646          7,989          1,271
 Depreciation                     26,179         43,381         6,903
 Deferred income taxes            -              2,067          329
 Change in fair value of forward  (310)          -              -
contracts
 Share based compensation         10,541         12,405         1,974
expenses
 Changes in operating assets and
liabilities:
 Due from related parties         (80)           (140)          (22)
 Inventories                      (21,950)       11,903         1,894
 Prepaid rent                     (2,382)        (3,675)        (585)
 Prepaid expense and other        (1,489)        (3,202)        (509)
current assets
 Deposits for leases              (4,850)        (672)          (107)
 Accounts payable                 12,759         7,616          1,212
 Deferred revenue                 579            (636)          (101)
 Due to related parties           (560)          21             3
 Accrued payroll                  7,889          1,694          270
 Income taxes payable             14,865         (11,462)       (1,824)
 Deferred rent                    4,655          6,213          989
 Other liabilities                4,727          1,155          182
Net cash provided by operating         68,940         145,796        23,198
activities
Investing activities:
 Restaurant and office space capital (110,121)      (117,221)      (18,652)
expenditures
 Proceeds from disposal              811            496            79
Purchase of short-term investment      (210,000)      (210,000)      (33,414)
 Proceeds from short-term investment -              190,000        30,232
Net cash used in investing activities  (319,310)      (136,725)      (21,755)
Financing activities:
 Proceeds from exercise of        2,500          500            80
employee stock options
Offering expenses                      (838)          -              -
Net cash provided by financing         1,662          500            80
activities:
Effect of exchange rate                (1,345)        233            37
Net increase /(decrease) in cash and   (250,053)      9,804          1,560
cash equivalents
Cash and cash equivalents, beginning   612,583        327,546        52,117
of period
Cash and cash equivalents, end of      362,530        337,350        53,677
period





Supplementary Metrics – Reconciliations of GAAP to Non-GAAP Financial Measures

(Amounts in thousands, except ADSs and per ADS data)


                                            Three months ended September 30,
                                            2011        2012
                                            RMB         RMB         US$
Net income                                  14,660      31,869      5,070
Share-based compensation expenses:
Restaurant wages and related expenses       756         1,114       177
Selling, general and administrative         2,806       2,591       412
expenses
Adjusted net income (non-GAAP)              18,222      35,574      5,659
Diluted net income per ADS                  0.56        1.22        0.19
Adjusted diluted net income per ADS         0.68        1.36        0.22
(non-GAAP)
Diluted weighted average ADSs outstanding   26,365,503  26,169,383  26,169,383
                                            Three months ended September 30,
                                            2011        2012
                                            RMB         RMB         US$
Net income                                  14,660      31,869      5,070
Income tax expense                          11,242      9,698       1,543
Interest income                             (5,595)     (4,978)     (792)
Depreciation and amortization               9,862       15,598      2,482
EBITDA (Non-GAAP)                           30,169      52,187      8,303
EBITDA (Non-GAAP)                           30,169      52,187      8,303
Foreign exchange (gain)/loss                4,105       (274)       (44)
Other income                                (4,081)     (12,736)    (2,026)
Impairment charges                          870         4,038       643
Share-based compensation expenses
Restaurant wages and related expenses       756         1,114       177
Selling, general and administrative         2,806       2,591       412
expenses
Adjusted EBITDA (Non-GAAP)                  34,625      46,920      7,465

SOURCE Country Style Cooking Restaurant Chain Co., Ltd.

Website: http://ir.csc100.com