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CDC Corporation Reverses Loss
April 12, 2006 |
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CDC Corporation (CHINA) has finally announced its financial results for the fourth quarter and full year ended December 31, 2005.
Total revenue for full year 2005 was US$245.0 million, up 34.1% from US$182.7 million in full year 2004.
Total revenue for Q4 2005 was US$62.3 million, up 13.0% from US$55.1 million in Q4 2004.
GAAP net income for Q4 2005 was US$1.0 million, with a full year GAAP net loss of US$3.9 million.
Non-GAAP net cash and cash equivalents, net of total debt, increased by US$5.2 million to US$217.7 million as of December 31, 2005 due to strong cash flow contribution from operations.
The company generally partitions its operations into two sections: CDC Software and China.com, respectively. Both sections saw reasonable growth.
"Our fourth quarter operating results reflect the success of our strategic review which realigned our leaner, organization to focus intently on our core business units, CDC Software and China.com," said Peter Yip, CEO of CDC Corporation and Executive Chairman of CDC Software.
Total revenue from CDC Software for full year 2005 was US$201.8 million, up 33.8% from US$150.8 million in full year 2004. Total CDC Software revenue for Q4 2005 was US$50.6 million, up 2.1% from US$49.6 million in Q4 2004.
Total revenue from China.com for full year 2005 was US$43.2 million, up 35.6% from US$31.9 million in full year 2004. Total China.com revenue for Q4 2005 was US$11.7 million, up 112.7% from US$5.5 million in Q4 2004.
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