Year-to-date, gross profits increased of 35.1%, resulting in a gross margin of 49.3%. ChinaNet's internet advertising business generated gross profit margin of 74.8%, a 140 basis point improvement from the same period last year.Operating expenses for the nine months ended September 30, 2010 were approximately $5.2 million, essentially flat compared to $5.1 million in the same period of 2009. Selling expenses for the period were $2.2 million, down 32.8% as a result of lower spending on TV advertising. Research and development costs were $0.6 million, or 1.9% of revenues compared to 1.3% in the prior year period.
ChinaNet Online Holdings Reports Third Quarter 2010 Earnings; Adjusted Net Income Grew 100% To $3.9 Million With Adjusted Diluted EPS Of $0.19
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