E-Commerce China DangDang Inc. reported a drop to a loss in the fourth quarter driven by higher costs. E-Commerce China Dangdang, through its subsidiaries, operates the Chinese e-commerce website Dangdang, an online bookstore and general merchandise retailer.
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E-Commerce China DangDang Earnings Cheat Sheet for the Fourth Quarter
Results: Reported a loss of $20.6 million (5 cents per diluted share) in the quarter. E-Commerce China DangDang Inc. had a net income of $2.3 million or one cent per share in the year-earlier quarter.
Revenue: Rose 73% to $195.7 million from the year-earlier quarter.
Quoting Management: “I am pleased to report accelerated top line growth in the fourth quarter as compared with the first nine months of 2011. We managed to grow revenues in the fourth quarter and fiscal year by 73% and 59% year-over-year, respectively. In this highly competitive growth environment, we have full confidence that we can keep our accelerated growth momentum based on a well-managed, sustainable and differentiated strategy in 2012. Our new customer acquisition strategy was successful, bringing us 6.6 million new customers in 2011 while we maintained the new customer acquisition cost at a relatively low level,” said Ms. Peggy Yu Yu, Dangdang’s Executive Chairwoman.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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