Business

Sina.com Conjures More Growth In Final Quarter 2003

In announcing its financial results for the fourth quarter and for the full year ended December 31, 2003, Sina.com saw advertising revenues for the year grow by 67% from the same period in 2002, and non-advertising revenues for the year grow by 415%. The financial announcement came this week.

In addition, net revenues for the quarter grew by 197% year-over-year and by 20% quarter-over-quarter to a company high of $38.3 million. US GAAP net income for the quarter was $9.3 million or $0.16 diluted net income per share, compared to a net income of $1.5 million, or $0.03 diluted net income per share for the same period in 2002. US GAAP net income for the quarter included an impairment loss on Sun Media investment in the amount of $6.1 million. Cash flow from operating activities for the year was $45.9 million, compared to $4.6 million for the same period in 2002.

As of December 31, 2003, Sina's cash, cash equivalents and investments in marketable securities totaled $227.2 million, an increase of $18.9 million from three months ago. Cash flow from operating activities for the fourth quarter was $19.5 million, compared to $13.7 million for the previous quarter and $3.2 million for the same period in 2002. For the year ended December 31, 2003, cash flow from operating activities was $45.9 million, compared to $4.6 million for the same period in 2002.

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