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51job CEO Discusses Q3 2010 Results – Earnings Call Transcript

51job, Inc. ( JOBS)

Q3 2010 Earnings Call Transcript

November 9, 2010 8:00 pm ET

Executives

Linda Chien – Assistant VP, IR

Rick Yan – CEO

Kathleen Chien – COO and Acting CFO

Analysts

Jenny Wu – Morgan Stanley

Wendy Huang – RBS

Alicia Yap – Citigroup

Presentation

Operator

Good morning and good evening ladies and gentlemen. Thank you for holding. Welcome to the 51job Incorporation's third quarter 2010 conference call. (Operator Instructions)

I will now hand the conference over to Ms. Linda Chien, Assistant Vice President of Investor Relations. Thank you, Madam. Please go ahead.

Linda Chien

Thank you, Mimi. And thank you all for attending this teleconference to discuss un-audited financial results for the third quarter ended September 30, 2010. With me for today's call are Chief Executive Officer Rick Yan and Chief Operating Officer and Acting Chief Financial Officer Kathleen Chien. A press release containing third quarter 2010 results was issued earlier today and a copy may be obtained through our website at ir.51job.com.

Before we begin I would like to remind you that during these call statements regarding targets for the fourth quarter of 2010, future business and operating results constitute forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and as defined in the Private Securities Litigation Reform Act of 1995.

These statements are based upon management's current expectation and actual results could differ materially. Among the factors that could cause actual results to differ – the number of recruitment advertisements placed, sales orders received and customer contracts executed during the remaining weeks of the fourth quarter of 2010; any accounting adjustments that may occur during the quarterly close; fluctuations in the value of Renminbi against the U.S. dollar and other currencies; behavioral and operational changes of customers in meeting their human resource needs as they respond to evolving social, economic and political changes in China as well as stock market volatility; introduction by competitors of new or enhanced products or services; price competition in the market for the various human resource services that the company provides in China; acceptance of new products and services developed or introduced by the company outside of the human resources industry and fluctuations in general economic conditions.

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