CHINA good earnings report.
chinadotcom Reports Sequential Quarterly Revenue Growth of 51%, 211% Rise in Net Income and Third Consecutive Quarter of US GAAP Profit
Wednesday August 6, 7:31 am ET
chinadotcom's Q2 2003 Results Highlights:
- Revenue from continuing operations in Q2 2003 rose 51% to US$21.9 million compared to the previous quarter
- US GAAP net income in Q2 2003 rose to US$4.1 million, a sequential rise of 211% over Q1 2003
- Gross Profit in Q2 2003 increased by 89% to US$9.6 million quarter on quarter
- Gross Margin increased from 35% to 44% in Q2 2003
- Earnings per share rose 213% to US$0.04 compared to US$0.01 in Q1 2003 and a loss per share of US$0.08 in Q2 2002
- The company balance sheet remained strong with US$360.0 million including restricted cash and debt securities, net of loans
- After the quarter, the company signed a definitive agreement to acquire a profitable, leading SMS company in Greater China
