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CDC Corporation Posts Quarterly Loss, China.com Drops Revenue
September 7, 2007 |
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CDC Corporation's (CHINA) financial results for the second quarter for the period ending June 30, 2007 show net loss was US$3.2 million, compared to net income of US$8.0 million in the same period last year.
However, total revenue was US$103.9 million, an increase of 35.0% from 2006. This is the first time in the company's history that quarterly revenues have exceeded US$100 million and the sixth consecutive record revenue quarter.
"This quarter was a milestone quarter in many regards," said Peter Yip, CEO, CDC Corporation. "Not only were we able to break the US$100 million quarterly revenue milestone at CDC Corporation, we took significant steps in creating value for our shareholders. We are making progress in carving out CDC Software and CDC Games. In addition, we have been buying back stock and have increased our buy back amount in the second quarter."
The company's China.com business, which includes the portal and MVAS business, reported revenues of US$6.3 million for the second quarter of 2007, a decrease of 45.4% from the same period of 2006.
Total revenue from CDC Software for was US$88.6 million, an increase of 53.5% from US$57.7 million in 2006. CDC Software license revenues were up 86.6%, with 33.8% growth organically, compared to Q2 2006. Total revenue from CDC Games was US$9.0 million, an increase of 17.3% from the same period in 2006.
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