Rochester, NY 8/19/2009 8:48:09 PM
Longtop Financial Technologies Limited LFT - Longtop Financial's Recently Release First Quarter Soaring 38 percent
Longtop Financial Technologies Limited LFT
Last Tuesday Chinese financial software developer Longtop Financial Technologies that its fiscal first-quarter profit gained nearly 38 percent on growing demand across its customer base, and boosted its revenue and profit expectations for the full fiscal year.
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Longtop reported net income for the three months ended June 30 of $8.4 million, or 16 cents per American Depositary Share, up from a profit of $6.1 million, or 12 cents per ADS, in the year-ago quarter. Excluding stock-based compensation and other one-time costs, Longtop's profit in the latest quarter totaled 20 cents per ADS.
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