Chinese online travel provider Ctrip.com (CTRP) says its net revenues for the quarter ended March 31, 2007 were CNY232 million, up 49% year-on-year.

"We are very proud of an outstanding performance by our team during the first quarter of 2007," said Min Fan, CEO of Ctrip. "Our continuous focus on customers, technology and processes enabled us to expand our market share and further strengthen our brand. As the overall travel market continues to grow at a rapid pace, we are committed to putting relentless efforts on our operations and delivering solid financial returns to our shareholders."

For the first quarter of 2007, Ctrip reported total revenues of CNY249 million, representing a 49% increase from the same period in 2006 and 3% increase from the fourth quarter of 2006. Hotel reservation revenues totaled CNY133 million for the first quarter of 2007, representing a 40% increase from the same period in 2006 primarily due to increased volume, and total number of hotel room nights booked was approximately 1.92 million in the first quarter of 2007, compared to approximately 1.38 million for the same period in 2006 and approximately 1.94 million room nights in the previous quarter.

Air ticket booking revenues for the first quarter of 2007 were CNY95 million, representing a 64% increase from the same period in 2006 and the total number of air tickets sold in the first quarter of 2007 was approximately 2.22 million, compared to approximately 1.28 million for the same period in 2006 and approximately 1.90 million in the previous quarter.

Packaged-tour revenues for the first quarter of 2007 were CNY16 million, up 73% from the same period in 2006 and 46% from the previous quarter due to increased leisure travels during the first quarter of 2007.

For the first quarter of 2007, net revenues were CNY232 million, a 49% increase from the same period in 2006. Net revenues increased 3% from the fourth quarter in 2006. The gross margin was 79% in the first quarter of 2007, compared to 82% for the same period in 2006 and 80% in the previous quarter.

Net income for the first quarter of 2007 was CNY65 million. As of March 31, 2007, the cash balance increased to CNY866 million, compared to CNY851 million as of December 31, 2006.

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