China Finance Online reports Q4 results, subscriber growth flat, stock up (4Q04 earnings)

Jan.28.05 | About: China Finance (JRJC)

China Finance Online (ticker: JRJC), a provider of subscription-based online financial data covering China listed companies, announced Q4 2004 results. MarketWatch reported that the stock rose on strong subscriber growth. But look at the numbers:


Q4 Results:
(all percentage changes and comparisons are year on
year, unless stated otherwise)

  • Net revenues increased 229% to $2.07 million.
  • Net income grew 426% to $1.85 million
  • Diluted income per ADS was $0.09 and diluted income per share was $0.02 for the quarter
  • Gross margin was 95% versus 89%.
  • Net income margin increased to 89% from 56%.

Q4 Subscriber Growth:
(all percentage changes and comparisons are year on
year, unless stated otherwise)

  • New subscribers increased 21% to 3,977.
  • New subscribers for both Q3 and Q4 of 2004 remained relatively flat due to continued weakness of China's stock
    markets
  • Repeat subscribers increased 54% to 3,115.
  • Average subscription fees per subscriber (ASF) for new subscribers
    increased 105% to $285.
  • ASF for repeat subscribers increased 134% to $297.