We would like to highlight China Finance Online Co. Limited (NASDAQ: JRJC). The company provides online financial and listed company data and information in China. The Company offers subscription-based services on a single information platform that integrates data and information from multiple sources with features and functions, such as data and information search, retrieval, delivery, storage and analysis.
In the company’s news yesterday,
China Finance Online Co. Limited (JRJC) reported second quarter 2008 financial results after the close. Revenues surged 154% year-over-year to $14.7 million, a sequential increase of 33% over Q1. Net income grew to $4.6 million, or 20 cents per ADS, an increase of 202% over the same period last year, and 11% better sequentially.
On a non-GAAP basis, excluding certain items, net income was $6.5 million, or 28 cents per ADS. Analysts anticipated earnings of 14 cents on revenues of $13.3 million. These results exceeded the high end of the company’s prior guidance of $13.5 million in revenues and $6.0 million in non-GAAP net income.
The number of active paid subscribers for China Finance’s services swelled to 100,600 from 37,400, an increase of 169% during the year. Despite the massive ongoing correction in the Shanghai Stock Exchange Composite Index, registered users at jrj.com and stockstar.com increased 44% to 10.5 million people.
The company reaffirmed full-year 2008 revenue guidance of $56.0 - $61.0 million, and non-GAAP net income guidance of $25.0 - $29.0 million, or $1.09 - $1.26 per ADS. For the third quarter, China Finance expects to earn net income of $6.3 - $7.1 million non-GAAP, or 27 cents to 31 cents per ADS.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
