China-based Noah Holdings provides wealth management solutions to high net worth individuals in the country.
In the third quarter of 2010, Noah Holdings' posted a 210% year-over-year increase in net revenue to $10.2 million, attributable to higher one-time commissions and increased recurring service fees.
The company's operating margin for the quarter stood at 42.5%, compared to 19% during the same quarter in the prior year. The year-over-year upturn in operating margin was due to improved net revenue and a decrease in salary expenses. Net income rose 520% year over year to $3.1 million during the September quarter.
Noah expects net income for fiscal 2010 in the range of $12.8 million and $13.2 million, representing a 139% to 146% year-over-year increase.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV