eLong (LONG) posts loss, stock down in AH (4Q04 earnings)

Includes: CTRP, LONG
by: Ezra Marbach

eLong (ticker: LONG), a Chinese online travel service provider, posted a Q4 2004 EPS loss of about $0.11. Earnings estimates for Q4 were unavailable. Here are the details:

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

  • Total revenue increased 48% to $4.9 million (6% sequential growth).
  • Hotel reservation revenue increased 52% to $4.0 million (10% sequential growth).
  • Hotel room nights booked increased 56% to 582,000 (8.5% sequential growth).
  • Air ticketing revenue increased 105% to $347,000 (BUT decreased 15% sequentially due to lower revenue from corporate customers).
  • Gross margins remained relatively unchanged from Q3 at 85%.
  • Net loss of $1.3 million.
  • US GAAP loss per ADS was $0.108.
  • Adjusted loss (a non-GAAP measure), which excludes amortization of stock compensation and intangibles, was $944,000.
  • Adjusted loss per ADS (a non-GAAP measure) of $0.075.

Q1 2005 Guidance:

  • Total revenue increase of 40% (over Q1 2004) to $4.5 million.
  • US
    GAAP net loss of $1.8 million.
  • Loss per ADS of $0.07.
  • Adjusted loss of $1.3 million.
  • Adjusted loss per ADS of $0.05.

LONG stock market performance: