CDC Corporation beats on adjusted basis; strong revenue growth driven by Ross Systems acquisition; stock up (CHINA 2Q05 earnings results)

Aug.19.05 | About: CDC Corp. (CDCAQ)

CDC Corporation (ticker: CHINA) reported Q2 2005 earnings results today. Key stats from the quarter:

Q2 Results:
(all percentage changes and comparisons are year on year, unless stated otherwise)

  • Revenue rose 44.0% to $64.6 million above consensus estimate of $58.6 million.
  • Software revenue rose 76.2% to $42.5 million.
  • Business services revenue fell 1.6% to $10.2 million.
  • Mobile services and applications revenue rose 13.3% to $8.6 million.
  • Ad and marketing revenue rose 17.8% to $3.2 million.
  • MVAS revenue rose 18.0% sequentially to $8.6 million.
  • SMS revenue fell 43.0% to $5.0 million.
  • Gross margin was 55.7% vs 57.8%.
  • Operating expenses rose 24.5% to $34.8 million.
  • SG&A expenses rose 25.1% to $25.7 million.
  • R&D expenses rose 10.7% to $5.0 million.
  • Depreciation and amortization expenses rose 41.4% to $4.1 million.
  • Operating income of $1.2 million vs operating loss of $2.0 million.
  • GAAP net income of $36,000 vs net loss of $2.0 million.
  • GAAP diluted EPS of $0.00 vs a loss of $0.02.
  • Non-GAAP net income rose 101.5% to $5.4 million.
  • Non-GAAP basic EPS of $0.048 vs $0.026, above consensus of $0.02.

Balance Sheet

  • Cash and equivalents of $73.9 million as of June 30, 2005.

CHINA chart.


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