China Finance Online Co., Ltd. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Impairment Charges for the Second Quarter Ended June 30, 2016
August 18, 2016
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China Finance Online Co., Ltd. reported unaudited consolidated financial results for the second quarter and six months ended June 30, 2016. For the quarter, the company's net revenues were $16,045,000 against $23,115,000 a year ago. Loss from operations was $15,303,000 against income from operations of $608,000 a year ago. Income before income tax provision was $3,544,000 against $5,330,000 a year ago. Net income attributable to the company was $12,765,000 or $0.10 per diluted share against $4,072,000 or $0.03 per diluted share a year ago. Diluted net income per ADS attributable to the company was $0.50 against $0.16 a year ago.
For the six months, the company's net revenues were $46,758,000 against $36,816,000 a year ago. Loss from operations was $8,283,000 against $2,939,000 a year ago. Income before income tax provision was $10,779,000 against $2,636,000 a year ago. Net income attributable to the company was $14,782,000 or $0.12 per diluted share against $2,735,000 or $0.02 per basic and diluted share a year ago. Diluted net income per ADS attributable to the company was $0.58 against $0.11 a year ago.
For the quarter, the company reported loss from impairment of goodwill of $6,642,000.
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. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Impairment Charges for the Second Quarter Ended June 30, 2016