Business, Internet

Revenue Rises For Ctrip In China

Chinese online travel service provider Ctrip.com International Ltd. reports that its net revenues for the third quarter of ended September 30, 2009, were CNY545 million, up 47% year-on-year.

"We are pleased that our team delivered solid results in the third quarter of 2009," said Min Fan, CEO of Ctrip, "As we celebrate Ctrip's 10th anniversary of establishment, we want to take this opportunity to thank our customers, our partners and our employees for their supports through the years. In order to extend our leadership in the future, we will continuously focus on strengthening our core competitiveness in customer service, technology innovation, and sales and marketing. We believe we are well prepared for the new era to come."

For the third quarter of 2009, Ctrip reported total revenues of CNY583 million, representing a 47% increase from the same period in 2008 and a 15% increase from the previous quarter.

Hotel reservation revenues amounted to CNY262 million for the third quarter of 2009, representing a 41% increase year-on-year, and a 16% increase quarter-on-quarter. Excluding revenues attributable to ezTravel, the company's newly purchased operations in Taiwan, Ctrip's hotel reservation revenues were CNY257 million, representing a 38% increase year-on-year, primarily driven by a 47% increase in hotel reservation volume, which was partially offset by a decrease in commission per room. Excluding revenues attributable to ezTravel, Ctrip's hotel reservation revenues increased by 15% quarter-on-quarter, primarily driven by an increase in hotel room reservation volume.

Air-ticketing revenues for the third quarter of 2009 were CNY241 million, representing a 45% increase year-on-year, and an 8% increase quarter-on-quarter. Excluding revenues attributable to ezTravel, Ctrip's air-ticketing revenues were CNY234 million for the third quarter of 2009, representing a 40% increase year-on-year, and 9% quarter-on-quarter, primarily driven by an increase in air-ticketing sales volume.

Packaged-tour revenues for the third quarter of 2009 were CNY55 million, representing a 93% increase year-on-year, and a 53% increase quarter-on-quarter. Excluding revenues attributable to ezTravel, Ctrip's packaged-tour revenues for the third quarter of 2009 increased by 53% year-on-year, and 61% quarter-on-quarter, due to the increase in the leisure travel volume.

For the third quarter of 2009, net revenues were CNY545 million, a 47% increase from the same period in 2008 and a 15% increase from the previous quarter. Excluding net revenues attributable to ezTravel, net revenues were CNY518 million, a 40% increase from the same period in 2008 and a 14% increase from the previous quarter.

Gross margin was 77% in the third quarter of 2009, remaining consistent with that in the same period in 2008 and in the previous quarter.

Income from operations for the third quarter of 2009 was CNY199 million, representing an 87% increase from the same period in 2008 and a 22% increase from the previous quarter. Operating margin was 37% in the third quarter of 2009, compared to 29% in the third quarter of 2008 and 34% in the previous quarter.

Net income attributable to Ctrip's shareholders for the third quarter of 2009 was CNY189 million, representing an 80% increase from the same period in 2008, and a 19% increase from the previous quarter.

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