eLong (LONG) yesterday reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2005.

The company's travel revenues increased 54% year-over-year and 6% sequentially to CNY56.1 million, and total revenues improved 65% year-over-year and 11% sequentially to CNY64.8 million.

"We are pleased to report another strong quarter of travel revenue growth of 54%. I am pleased to have joined eLong at this exciting stage in the company's development, and look forward to building on eLong's solid foundation and deep relationship with Expedia," remarked Tom SooHoo, Chief Executive Officer of eLong. Mr. SooHoo joined the Company in January of this year.

Hotel commissions increased 42% year-over-year and 10% sequentially to CNY45.6 million.

Air ticketing commissions increased 162% year-over-year and 1% sequentially to CNY7.6 million. Air ticketing represented 13% of total travel revenues in the fourth quarter as compared to 8% in the same period one year ago as the company continues to diversify from its lodging revenue base.

As of December 31, 2005, the company's cash balance and restricted cash and cash equivalents were US$131.9 million, including restricted cash and cash equivalents of US$9.4 million.


Please enter your comment!
Please enter your name here