Chinese online recruitment website 51job.com (JOBS) says it exceeded guidance as it reported its unaudited financial results for the quarter ended September 30, 2007.
Total revenues increased 21.8% over the third quarter of 2006 to CNY220.2 million, exceeding the company's guidance range of CNY205 to CNY215 million
Print advertising revenues for the third quarter of 2007 increased 15.9% to CNY114.1 million compared with CNY98.4 million for the same quarter in 2006. The increase was primarily the result of a greater volume of advertisements in 51job Weekly which was partially offset by lower average revenue per page. The estimated number of print advertising pages generated in the third quarter of 2007 grew 37.4% to 4,419 compared with 3,217 pages in the same quarter in 2006. Average revenue per page in the third quarter of 2007 decreased 15.6% over the same quarter in 2006 due to growing revenue contribution from lower priced cities.
Online recruitment services revenues for the third quarter of 2007 were CNY73.0 million, representing a 26.8% growth from CNY57.6 million for the same quarter last year. The increase was mainly attributable to growth in the number of employers using the company's online services. Unique employers using the company's online recruitment services increased 31.6% to 59,177 in the third quarter of 2007 compared with 44,969 in the same quarter last year.
Gross profit for the third quarter of 2007 was CNY117.8 million, representing an increase of 22.7% from CNY96.0 million for the same quarter last year. Gross margin, which is equal to gross profit divided by net revenues, was 56.5% in the third quarter of 2007 compared with 56.2% in the same quarter in 2006.
Income from operations for the third quarter of 2007 increased 14.8% to CNY35.4 million from CNY30.8 million for the same quarter last year. Net income for the third quarter of 2007 was CNY26.7 million compared with CNY27.1 million for the same quarter in 2006.
