China Real Estate Information Corp. said that its fourth-quarter profit rose six-fold on rising demand for its database and consulting services and the big acquisition late last year. China Real Estate information Corp. trades on the “NASDAQ” under the stock symbol “CRIC”. For the Latest information regarding “CRIC”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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China Real Estate Information Corp.(NASDAQ:CRIC) whose U.S.-traded shares debuted in October, said Tuesday that its fourth-quarter profit rose six-fold on rising demand for its database and consulting services and the big acquisition late last year. China Real Estate Info. Corp, based in Shanghai, took a 66 percent equity interest in China Online Housing Technology Corp. in October.
The U.S.-listed shares for the company peaked shortly after their Oct. 16 debut in an initial public offering that allowed U.S. investors to get a piece of China's booming real estate market. The company sells data and consulting services to real estate developers in China.
Including results from China Online in both comparison periods, the company reported net income attributable to China Real Estate shareholders of $32.4 million, or 24 cents per share, compared with $5.3 million, or 7 cents per share, for the same quarter in 2008.
Revenue more than tripled to $41.3 million for the three months ended Dec. 31, up from $13.6 million in the same quarter a year ago. About $13.8 million of last quarter's revenue was attributable to China Online Housing, with the remaining $27.5 million coming from China Real Estate
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