AsiaInfo Holdings (ticker: ASIA) reported Q3 2005 earnings results today that missed consensus EPS estimates (1 analyst) by $0.01. Key stats from the quarter:
(all percentage changes and comparisons are year on year, unless stated otherwise)
- Total revenue rose 26.1% to $25.2 million, but fell 7.0% sequentially.
- Net revenue (total revenues net of third party hardware cost) rose 53.0% to $22.0 million, but fell 7.0% sequentially.
- Software products and solutions revenue rose 58.7% to $15.3 million.
- Service revenue rose 46.8% to $6.3 million.
- Third party hardware revenue fell 40.1% to $3.6 million.
- Gross margin was 43.5% vs 41.8%.
- Operating expenses rose 43.6% to $11.4 million.
- Sales and marketing expenses rose 73.4% to $5.4 million.
- General and administrative expenses rose 5.6% to $2.5 million.
- R&D expenses rose 35.4% to $3.1 million.
- Amortization expenses rose 165.6% to $401,000.
- Operating loss of $428,000 vs gain of $423,000.
- Net income fell 91.4% to $427,000. Q3 2004 net income included one-time investment gain of $4.0 million.
- Diluted EPS of $0.01 vs $0.11, and vs consensus estimate (1 analyst) of $0.02.
Balance Sheet (as of September 30, 2005)
- Cash and equivalents of $79.0 million.
- Restricted cash of $15.5 million.
- Short-term investments of $53.8 million.
- Net revenue of $18 - $20 million (equivalent to a year-over-year decrease of 13% to 22% and a quarterly decrease of 9% to 18%).
- Earnings per basic share of $0.00 - $0.01 (excluding impairment charges and associated diversified costs relating to the disposal of non-core businesses of $18 million to 23 million).
- On GAAP basis, loss per basic share of $0.38 - $0.49.
- Net revenue of $86 - $88 million.
- Earnings per basic share of $0.06 - 0.07 (excluding impairment charges and associated diversified costs).
- On GAAP basis, loss per basic share of $0.33 - $0.46.
- ASIA's Q2 Results.