ChinaCache Q3 2012 Profit Down 15% YoY
ChinaCache PR, 11/19/12
Chinese content delivery network (CDN) service provider ChinaCache (Nasdaq: CCIH) has announced its financial results for the third quarter of 2012. Q3 2012 revenues were RMB 209.2 mln (USD 33.3 mln), a 5.9% increase QoQ from Q2 2012 and a 30.4% increase YoY from the corresponding period in 2011.
Net income was RMB 2.9 mln (USD 0.5 mln), down 32.6% QoQ from net income of RMB 4.3 mln in Q2 2012 and down 14.7% YoY from RMB 3.4 mln in the corresponding period in 2011.
Revenue breakdown by industry vertical during Q2 2012 was: Internet & Software (20%), Mobile Internet (18%), Media and Entertainment (29%), Enterprises & E-commerce (29%), and Government Agencies (4%).
Revenue contributed by the company's top 5 customers as a percentage of net revenues was 22%, down 7 percentage points from 29% in Q2 2011.
Total number of employees at the end of Q1 2012 was 758, up 49.8% from 506 at the end of Q3 2011.
Number of active customers in the third quarter was 1,138, as compared to 1,013 in the previous quarter. Third quarter 2012 customer additions totaled a record 125, driven primarily by enterprises and e-commerce customers.
In May 2012, the company's Board authorized a share repurchase program to repurchase up to USD 10 mln of the company's ADSs from May 2012 to May 2013 through open market transactions or in block trades.
As of November 16, 2012, the company had repurchased a total of 226,006 ADSs for approximately USD 1.1 mln at an average price of USD 4.93 per ADS under this buyback program on the open market. The company currently has approximately 22.8 mln ADSs outstanding.
ChinaCache currently expects to generate total net revenues in the range of RMB 225 mln (USD 35.8 mln) to RMB 230 mln (USD 36.6 mln) for the fourth quarter of 2012, representing an increase of 7.6% to 9.9% QoQ, and an increase of 25.3% to 28.1% YoY.
To view the complete report please see here.
Keywords: profit revenue telecom CDN ChinaCache CCIH Q3 2012 fiscal report
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