China Finance Online Co., Ltd. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Financial Guidance for the Second Quarter of 2015
July 09, 2015 at 05:30 pm EDT
Share
China Finance Online Co., Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. Net revenues for the first quarter of 2015 were $13.7 million, a decrease of 41% from $23.2 million for the corresponding period in 2014. Gross profit was $10.3 million, a decrease of 42% from $17.8 million in the first quarter of 2014 and a decrease of 29% from $14.4 million in the fourth quarter of 2014. Loss from operations was $3.5 million, compared with a loss of $0.6 million in the first quarter of 2014 and a loss of $1.8 million in the fourth quarter of 2014. Net loss attributable to company was $1.3 million or $0.01 per basic and diluted share, compared with a loss of $2.0 million or $0.02 per basic and diluted share in the first quarter of 2014 and a net income of $3.6 million in the fourth quarter of 2014. Fully diluted loss per ADS was $0.06 for the first quarter of 2015, compared with a loss of $0.09 for the first quarter of 2014. Loss before income tax expenses was $2,694,000 against income before income tax expenses of $10,000 a year ago.
The company expects an improved second quarter with a net revenue around $22.0 million, an increase of 7% from $20.6 million for the corresponding period in 2014 and an increase of 61% from $13.7 million in the first quarter of 2015.
China Finance Online Co. Limited is a Web-based financial services company in China. The Company provides Chinese retail investors with online access to securities and commodities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company operates through three segments: commodities brokerage services, online financial information and advisory service, and other related services in the People's Republic of China (PRC), and Hong Kong brokerage services. The Company offers financial software, information services and securities investment advisory services to retail investors in China. Through its subsidiary, Shenzhen Genius Information Technology Co., Ltd., the Company provides financial database and analytics to institutional customers, including domestic financial, research, academic and regulatory institutions.
China Finance Online Co., Ltd. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Financial Guidance for the Second Quarter of 2015