CDC Software 3Q Profit Rises On Lower Costs
NEW YORK (AP) ¿ CDC Software Corp., a Chinese business software developer whose shares began trading in the United States last summer, said Monday its third-quarter profit rose 47 percent on lower costs and expenses.
Profit rose to $6.2 million, or 22 cents per share, in the three months ended Sept. 30 compared with a profit of $4.2 million, or 15 cents per share, a year prior.
Revenue fell 20 percent to $48.6 million from $60.5 million.
Excluding charges, the company said it earned 33 cents per share. Analysts polled by Thomson Reuters expected profit of 31 cents per share on revenue of $48.7 million.Cost of revenue fell 23 percent to $21.4 million while operating expenses fell 43 percent to $20 million. CDC Software provides business software applications that enable customers to increase revenue and control costs by automating business processes and making it easier to access critical information. The company is controlled by CDC Corp., a business software maker based in Hong Kong. In August, CDC sold 4.8 million American depositary shares of CDC Software at $12 a share. They ended trading Friday at $10 a share. CDC still owns an 83 percent stake and a 98 percent voting interest in CDC Software.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV