This Day On The Street
Continue to site
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

ChinaNet Online Holdings Reports Third Quarter 2010 Earnings; Adjusted Net Income Grew 100% To $3.9 Million With Adjusted Diluted EPS Of $0.19

Third Quarter 2010 Financial Results

Revenues for the third quarter of 2010 increased 9.5% to $8.9 million compared to $8.1 million for the third quarter of 2009. In concert with management's plan and focus for 2010, internet advertising increased 50.3% year-over-year to $7.1 million, and comprised 79.9% of total revenue. Growth was driven by focused marketing campaigns which resulting in net new customer additions, including new premium franchise customers, which was complemented by the sell through of additional web based services to the Company's installed customer base.  Lower margin TV production and advertising service revenues declined 48.5% year-over-year to approximately $1.6 million or 18.0% of total revenues. As of September 30, 2010, the number of active customers for the Company's internet advertising business was 758 and during the third quarter, which was up 8% from previous quarter. The number of customers utilizing the TV advertising business was 148 and approximately 20% of these customers were serviced by both platforms.  

Third Quarter 2010 Revenue Breakdown By Business Unit (USD in thousands) (unaudited)
(3 months ended September 30,) 2010 2009 CHANGE
Internet Advertisement $7,108 $4,730 +50.3%
% of Sales 79.9% 58.2%  
TV Advertisement $1,603 $3,114 -48.5%
% of Sales 18.0% 38.3%  
Bank Kiosk $133 $1 --
% of Sales 1.5%    

"Our strong third quarter results demonstrate solid execution of our growth strategy and the inherent operating leverage in our business model," stated Mr. Handong Cheng, Chairman and CEO of the Company. "The strategic decision to focus more resources on is bearing fruit, and is responsible for expanding margins and accelerating earnings and cash flows. As we build our brand and introduce new services to monetize our installed customer base, we see substantial opportunities to further expand our footprint in the rapidly growing SME franchise market."

2 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!


DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs