Saifun Semiconductors (SFUN)

[tradeologist]

SouFun Announces First Quarter 2014 Results



First Quarter 2014 Highlights

Revenue in the first quarter of 2014 was $121.2 million, a 33.2% increase from the corresponding period in 2013.

Operating income in the first quarter of 2014 was $49.5 million, a 33.1% increase from the corresponding period in 2013. Non-GAAP operating income in the first quarter of 2014 was $51.0 million, a 31.0% increase from the corresponding period in 2013.

Net income attributable to SouFun's shareholders was $41.5 million, representing a year-over-year increase of 46.2%. Fully diluted earnings per ADS were $0.10, an increase of 42.9% from the corresponding period in 2013.

Non-GAAP net income attributable to SouFun's shareholders was $47.8 million, representing a year-over-year increase of 44.0%. Non-GAAP fully diluted earnings per ADS were $0.11, an increase of 37.5% from the corresponding period in 2013.

Business Outlook

SouFun estimates its total revenue for 2014 will be between $780.0 million and $796.0 million, representing a year-on-year increase of 22.5% to 25%. This forecast reflects SouFun's current and preliminary view, which is subject to change.