CDC Corporation (CHINA), formerly named Chinadotcom Corporation, has reported Q1 2005 revenues of US$56.2 million, an increase of 58% from US$35.5 million in Q1 2004. Net loss was US$3.7 million compared to a net income of US$4.3 million in Q1 2004. Basic loss per share was 3.4 US cents compared to basic earnings per share of 4.2 US cents for Q1 2004.
Operating loss was US$3.3 million compared to an operating income of US$2.3 million in Q1 2004.
First quarter 2005 gross profit was US$30.5 million, up 62% from US$18.8 million in Q1 2004. Gross margin was 54% compared to 53% in Q1 2004. Loss before taxes was US$2.4 million compared to an income before taxes of US$5.1 million in Q1 2004.
Operating expenses totaled US$33.8 million, an increase of 105% from US$16.5 million reported in Q1 2004. The year-on-year increase in operating expenses was primarily driven by consolidating the results of Go2joy and Ross Systems, which were acquired in May and August 2004, respectively, and a full quarter of Pivotal which was acquired in late February 2004.