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ChinaNet Online Holdings, Inc. Message Board

  • marthastewartstips marthastewartstips Nov 19, 2012 10:54 PM Flag

    On track to meet or beat for the year, before adding additional earning power if Sou Yi aquisition

    Given an assumption of merely similar performance in the upcoming quarter to the one just reported today, CNET is on track to meet or exceed their recently announced improved outlook for the year. (This is before allowing for any improved earnings capacity of CNET, post-aquisition of the remaining 49% of the Lian Mei Network Technology ("SouYi") announced on September 17, 2012):

    BEIJING, Oct. 11, 2012 (GLOBE NEWSWIRE): ChinaNet Online Holdings, Inc. (CNET) (the "Company"), a leading B2B (business to business) Internet technology company focusing on providing online-to-offline ("O2O") sales channel expansion services for small and medium-sized enterprises ("SMEs") and entrepreneurial management and networking services for entrepreneurs in the People's Republic of China, today announced that the Company is raising its 2012 full year net income guidance to $3.1 million from $2.8 million previously provided. The revised net income guidance does not include any benefits from the proposed acquisition of the remaining 49% equity interest in Sou Yi Lian Mei Network Technology ("SouYi") announced on September 17, 2012.

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    • Net income attributable to common stockholders for the three months ended September 30, 2012 was $1.2 million and earnings per share was $0.05, compared to $1.0 million and $0.06 for the three months ended September 30, 2011, Net revenues for the nine months ended September 30, 2012 increased 70% to $38.3 million compared to $22.5 million for the nine months ended September 30, 2011. Higher revenues from TV advertisement and brand management and sales channel building services offset lower revenues in Internet advertising and the bank kiosk business. Balance Sheet and Cash Flow
      The Company had $8.5 million in cash and cash equivalents as of September 30, 2012
      ROCKET TOMARROW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

1.580.00(0.00%)Oct 20 3:53 PMEDT