Chinese software services firm AsiaInfo Holdings Inc. announced its financial results for the fourth quarter and full-year ended December 31, 2009.
Total revenues for the fourth quarter of 2009 were USD76.3 million, an increase of 42.1% year-over-year and 20.0% sequentially. Full year 2009 total revenues increased 42.0% year-over-year to USD249.3 million.
Gross margin for the quarter was 57.7%, compared to 53.5% in the year-ago period and 54.6% in the previous quarter.
Total operating expenses for the fourth quarter of 2009 increased 41.5% year-over-year and 21.1% sequentially to USD29.7 million. Sales and marketing expenses for the fourth quarter of 2009 increased 18.2% year-over-year and 11.2% sequentially to USD12.5 million.
Income from operations for the fourth quarter of 2009 was USD14.3 million, an increase of 84.5% year-over-year and 40.4% sequentially.
In the fourth quarter of 2009, AsiaInfo recorded net income attributable to AsiaInfo Holdings Inc. of USD13.8 million, or USD0.29 per basic share, compared to USD2.2 million, or USD0.05 per basic share in the year-ago period and USD9.1 million, or USD0.20 per basic share in the previous quarter.
As of December 31, 2009, AsiaInfo had cash and cash equivalents and restricted cash totaling USD244.1 million and short-term investments totaling USD41.4 million. Operating cash flow in the fourth quarter of 2009 was a net inflow of USD43.5 million.