Ctrip.com (ticker: CTRP), a consolidator of hotel
accommodations and airline tickets in China, beat average consensus Q4 2004 EPS estimates by $0.06. Here are the details:
Q4 Results
(all percentage changes and comparisons are year on year, unless stated otherwise)
- Net revenues were $11.9 million, up 46%.
- Operating income was $4.0 million, up 49%.
- Net income was $5.0 million, up 69%.
- Fully diluted earnings per ADS were $0.31 against consensus of $0.25 and the company's original guidance of $0.24 to $0.25.
- Gross margin was 84%, up from 83%.
- Operating margin flat at 33%.
- Hotel reservation revenues were $9.4 million, up 35% (and 5% sequentially). The number of hotel room nights booked was 1.19
million, up from 880,000. - Air ticket booking revenues were $2.6 million, up 151%. The number of air tickets sold was 540,000 versus 240,000.
- Packaged tour revenues for Q4 2004 were $412,090, up 12%.
Q1 Guidance
(all percentage changes and comparisons are year on year, unless stated otherwise)
- Revenue growth of 30-40%.
- (Calculation: CTRP generated net revenue of RMB 64.3 million in Q1 2004. Assuming a conversion rate of RMB 8.27 : US $1, the company expects net revenue of US $10.1 - US $10.9 million.)
- Similar net income growth.
- (Calculation: CTRP generated net income of RMB 21.7 million
in Q1 2004. Assuming a conversion rate of RMB 8.27 : US $1, the company
expects net income of US $3.4 - US $3.7 million.) - CTRP's Q1 2004 financials can be found in its F-2 SEC filing.
CTRP chart below.
