China Finance Online Co., Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Announces Impairment Charges for the Fourth Quarter Ended December 31, 2016
April 13, 2017 at 05:00 pm EDT
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China Finance Online Co. Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, net revenues were $19,237,000 against $33,634,000 a year ago. Loss from operations was $11,936,000 against income of $2,475,000 a year ago. Loss before income tax expenses was $11,600,000 against profit of $13,697,000 a year ago. Net loss attributable to company was $10,205,000 or $0.09 per diluted share against profit of $10,012,000 or $0.08 per diluted share a year ago.
For the year, net revenues were $83,058,000 against $107,405,000 a year ago. Loss from operations was $28,303,000 against profit $12,461,000 a year ago. Loss before income tax expenses was $6,805,000 against profit of $28,202,000 a year ago. Net income attributable to company was $954,000 or $0.01 per diluted share against $22,483,000 or $0.18 per diluted share a year ago.
For the fourth quarter ended December 31, 2016, the company loss from impairment of intangible goodwill of $18,000.
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 Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Announces Impairment Charges for the Fourth Quarter Ended December 31, 2016