This Day On The Street
Continue to site
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

EFuture Announces Third Quarter 2010 Unaudited Financial Results

BEIJING, Nov. 22, 2010 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (the "Company" or "eFuture"), a leading provider of software and services in China's rapidly growing retail and consumer goods industries, today announced its unaudited financial results for the third quarter ended September 30, 2010.

THIRD QUARTER 2010 FINANCIAL HIGHLIGHTS
  • Total revenue increased 28.8% year-over-year to RMB32.5 million (US$4.9 million).
  • Revenue from software license sales decreased 17.7% year-over-year to RMB11.4 million (US$1.7 million) compared to RMB13.8 million in the third quarter 2009.
  • Revenue from hardware sales increased 1,127.6% year-over-year to RMB9.8 million (US$1.5 million), compared to RMB799,850 in the third quarter 2009.
  • Service fee income increased 6.4% to RMB11.3 million (US$1.7 million), compared to RMB10.6 million in the third quarter 2009.
  • Gross profit increased 29.0% year-over-year to RMB12.4 million (US$1.9 million). Gross margin was 38.3%, in line with the third quarter 2009.
  • Adjusted EBITDA for the third quarter 2010 was negative RMB4.8 million (negative US$718,206), compared with negative RMB716,158 in the third quarter 2009.
  • Operating loss was RMB10.2 million (US$1.5 million), compared with an operating loss of RMB5.9 million in the third quarter 2009.
  • Net loss was RMB5.6 million (US$832,699), compared with a net loss of RMB4.2 million in the third quarter 2009.
  • Adjusted net loss was RMB670,481 (US$100,215), compared with adjusted net income of RMB706,275 in the third quarter 2009.
  • Basic and diluted net losses per share were RMB1.55 (US$0.23), as compared to basic and diluted net losses per share of RMB1.24 in the third quarter 2009.
  • Adjusted basic and diluted net losses per share were RMB0.19 (US$0.03), as compared to basic and diluted net earnings per share of RMB0.21 in the third quarter 2009.

Mr. Adam Yan, Chairman, Chief Executive Officer ("CEO") and Acting Chief Financial Officer ("CFO"), said, "I'm pleased to report a third consecutive quarter of robust top-line growth, with revenue up 29% year-over-year, exceeding guidance. The sales organization restructuring we completed during the first quarter of 2010 positioned us to deepen revenue penetration among existing clients as they expand amid the market rebound, and to also win business from new clients. The enhanced efficiency of our sales organization allowed us to achieve a 91% increase in the value of executed software license and services contracts compared with the third quarter of 2009, while achieving stable selling and distribution expenses as a percentage of revenue.

1 of 10

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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs