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Dangdang Q1 2011 Profit Up 204% YoY

PR Newswire Asia, 5/20/11

Chinese B2C e-commerce site Dangdang (NYSE: DANG) today announced its unaudited financial reports for the first quarter ended March 31, 2011.

Total net revenues in the first quarter of 2011 were RMB 687.6 mln, a 53.4% increase from the corresponding period in 2010.

Net income was RMB 3.1 mln, representing a 203.6% increase from the corresponding period in 2010, primarily due to an RMB 2.7 mln increase in interest income.

Media product revenue for the first quarter of 2011 was RMB 514.0 mln, representing a 34.3% increase from the corresponding period in 2010.

General merchandise revenue in the first quarter of 2011 was RMB 164.0 mln, a 161.6% increase from the corresponding period in 2010, representing 23.9% of total net revenues, compared to 14.0% in the corresponding period in 2010.

Other revenue including revenue from third-party merchants, for the first quarter of 2011 was RMB 9.5 mln, representing a 242.9% increase from the corresponding period in 2010.

Dangdang had approximately 4.2 mln active customers in the first quarter of 2011, representing a 42.3% increase from the corresponding period in 2010.

Total orders for the first quarter 2011 were approximately 8.0 mln, a 40.9% increase from the corresponding period in 2010.

By the end of the first quarter, Dangdang provided free online access to approximately 30% of the content for more than 13,000 book titles and it plans to expand this service to more book titles in the future.

Dangdang launched its "Lightning Plan" in April 2011, providing the same-day delivery service to customers in seven major cities: Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Wuhan and Zhengzhou. In addition, Dangdang has also shortened the return or exchange cycle for its customers.

Dangdang expects its total net revenues in the second quarter of 2011 to be in the range of RMB 779 mln to RMB 789 mln, representing year-over-year growth in the range of 51% to 53%.

To view Dangdang's complete earnings report, please click here.

Keywords: guidance e-commerce Internet profit revenue B2C Dangdang DANG Q1 2011 fiscal report

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