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March 10, 2011 at 03:00 AM EST
ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) Reports 74.4% Growth YOY in 4Q Revenue by SGW
(EMAILWIRE.COM, March 10, 2011 ) New York, NY -- ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) reported fourth fiscal quarter earnings results on Monday, posting growth of 74.4% year over year in revenue.

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The Company reported net Income for the fourth fiscal quarter of 6.17 million yuan or 0.24 yuan per American Depository Shares (ADS), compared to a loss of 24.86 million yuan or 4.12 yuan per ADS last year.

Excluding share-based compensation expenses, foreign exchange loss or gain, penalties on uncertain tax positions, post acquisition settlement consideration, impairment of goodwill and acquired intangible assets, adjusted earnings were 17.5 million yuan, compared to a loss of 10.4 million yuan last year.

Revenue rose 74.4% year over year to 123.98 million yuan from 71.11 million yuan in the same quarter last year. In the quarter media and entertainment contributed 30% of the revenue, enterprises and e-commerce contributed 25% of the revenue, and Internet and software contributed 20% of total revenue.

For the year 2010, net income of 55.7 million yuan or 9.24 yuan per ADS has been posted compared to net loss of 39.2 million yuan in 2009. Net revenues in 2010 were 403.4 million yuan, representing a 48.1% increase from 2009.

The Company forecasted revenue for the first fiscal quarter and expected it to range from 128.0 million yuan to 133.0 million yuan, representing a 68.6% to 75.2% year over year increase from the corresponding period of 2010. This forecast reflects ChinaCache's current and preliminary view, which is subject to change.

Shares of a provider of internet content and application delivery services tumbled $1.72 or 8.73% to $17.98. The 52 week range of the stock is $14.58-$35.00. The market capitalization of the stock stands at $417.25 million with total shares outstanding of 23.21 million.

ChinaCache International Holdings Ltd. (ChinaCache) is a holding company and conducts its business through its operating subsidiary and affiliated entities.

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