We continue to be confident in the long-term potential of both Synutra and China's domestic infant formula market. The past fiscal year has wrought many challenges for both our Company and the broader domestic industry. However, with the government's current focus on quality control as well as our internal dedication to high quality products and a robust nationwide distribution network, we continue to believe the future is bright.
The second quarter of fiscal 2011 was very challenging for Synutra. The premature development allegations, which drove a considerable decline in our market share, left a deep and lasting impact on our business. We are proud, though, of our response to this very difficult situation. We took the initiative to reach out to the proper authorities to verify the quality of our products and stem further consumer panic, we mobilized our sales team and call center to handle customer concerns and we have provided our distributors with more discounts and promotional activities to maintain the strength of our distribution channels. We also directly confronted the source of these erroneous media reports, Phoenix Satellite Television, who then issued a formal public apology. Today, we are cautiously optimistic about our ongoing recovery. Following the melamine crisis, our management team demonstrated that they are capable of returning Synutra to profitability. We are confident that through the dedication and commitment of this same team, Synutra will rebuild its market presence and recapture its previous long-term growth momentum.