This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ChinaCache International Holdings Ltd. Announces Third Quarter 2010 Financial Results

BEIJING, Nov. 5, 2010 (GLOBE NEWSWIRE) -- ChinaCache International Holdings Ltd., ("ChinaCache" or the "Company") (Nasdaq:CCIH), the leading provider of Internet content and application delivery services in China, today announced its unaudited interim condensed consolidated financial results for the quarter ended September 30, 2010.

Highlights for Third Quarter 2010

  • Net revenues increased 57.9% from the corresponding period in 2009 to RMB109.1 million (US$16.3 million)
  • Net loss was RMB37.7 million (US$5.6 million), compared to net loss of RMB3.1 million in the corresponding period in 2009
  • Adjusted net income (Non-GAAP), which excludes 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, was RMB14.8 million (US$2.2 million), compared to RMB65,000 in the corresponding period in 2009
  • Adjusted EBITDA (Non-GAAP) was RMB35.1 million (US$5.2 million), a 84.6% increase from the corresponding period in 2009

"We had a record third quarter marked by significant growth particularly in our mobile Internet, media and entertainment, and enterprise and E-commerce verticals," said Mr. Song Wang, co-founder, chairman and chief executive officer of ChinaCache. "We saw healthy demand for our content and application delivery services for mobile data, media and enterprise applications and we continue to make progress in offering our value-added services with our solutions."

"During the quarter we further expanded our presence in the mobile Internet market by signing additional contracts with China Mobile subsidiaries," continued Mr. Wang. "We also recently announced our expansion into the cable TV industry, an important industry vertical, demonstrating the critical role for our solutions in China's network convergence market."

"Since 1998, ChinaCache has focused on providing solutions tailored for the Chinese market that enhance the reliability and scalability of customers' online services and applications and improve end-user experience," concluded Mr. Wang. "We will continue investing to strengthen our position as China's leading Internet content and application delivery services provider."

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs