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CDC Corporation Reports Quarterly Results
August 8, 2008 |
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| Category: Business
China's CDC Corporation (CHINA), which owns China.com and CDC Games, announced its financial results for the second quarter of 2008 and said total revenue from continuing operations for the period ended June 30, 2008 was USD111.0 million.
This revenue was higher than the company's previously announced range of USD107.3 to USD108.5 million and an increase of 10% from USD100.7 million in the second quarter of 2007.
Adjusted net income from continuing operations totaled USD4.5 million compared to a loss of USD0.75 million for the first quarter of 2008 and adjusted EBITDA totaled USD6.1 million in Q2 2008. Adjusted net income per share was USD0.04, and non-GAAP cash and cash equivalents totaled USD233.4 million as of June 30, 2008.
The company generated positive operating cash flow in both Q1 2008 and Q2 2008. Operating cash flow was USD5.3 million and USD5.6 million for Q1 2008 and Q2 2008, respectively. Combined, for the first half of 2008, the company generated positive cash flow of USD10.9 million.
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