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ChinaCache International Holdings Ltd. Announces Fourth Quarter And Fiscal Year 2010 Financial Results

BEIJING, March 7, 2011 (GLOBE NEWSWIRE) -- ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (Nasdaq:CCIH), the leading provider of Internet content and application delivery services in China, today announced its unaudited interim condensed consolidated financial results for the quarter ended December 31, 2010.

Highlights for Fourth Quarter 2010

  • Net revenues increased by 74.4% to RMB124.0 million (US$18.8 million) in the fourth quarter 2010 from the corresponding period in 2009
  • Net income in the fourth quarter 2010 was RMB6.2 million (US$0.9 million), compared to a net loss of RMB13.9 million in the corresponding period in 2009
  • Adjusted net income (Non-GAAP), which excluded share-based compensation expenses, foreign exchange loss or gain, penalties on uncertain tax positions, post acquisition settlement consideration, impairment of goodwill and acquired intangible assets, was RMB17.5 million (US$2.7 million) in the fourth quarter 2010, compared to an adjusted net loss of RMB10.4 million in the corresponding period in 2009
  • Operating profit in the fourth quarter 2010 was RMB6.9 million (US$1.0 million), compared to operating loss of RMB2.2 million in the corresponding period in 2009
  • Non-GAAP operating profit, which excluded share-based compensation expenses and post acquisition settlement consideration, was RMB10.2 million (US$1.5 million) in the fourth quarter of 2010, compared to RMB1.3 million in the corresponding period in 2009
  • Adjusted EBITDA (Non-GAAP) was RMB30.6 million (US$4.6 million), a 68.7% increase from the corresponding period in 2009

Highlights for Fiscal Year 2010

  • Net revenues in 2010 increased 48.1% from 2009 to RMB403.4 million (US$61.1 million)
  • Net loss in 2010 was RMB55.7 million (US$8.4 million), compared to a net loss of RMB39.2 million in 2009
  • Adjusted net income (Non-GAAP) was RMB61.0 million (US$9.2 million) in 2010, compared to a loss of RMB16.1 million in 2009
  • Operating loss in 2010 was RMB61.3 million (US$9.3 million), compared to operating loss of RMB12.7 million in 2009
  • Non-GAAP operating profit was RMB48.7 million (US$7.4 million) in 2010, a significant increase from RMB1.7 million in 2009
  • Adjusted EBITDA (Non-GAAP) in 2010 was RMB114.1 million (US$17.3 million), a 61.4% increase from 2009
  • The number of active customers as at December 31, 2010 totaled 504, compared to 281 as at December 31, 2009

"We were pleased to achieve profitability in the fourth quarter as we recorded another period of revenue growth," said Mr. Song Wang, co-founder, chairman and chief executive officer of ChinaCache. "Our mobile Internet, media and entertainment, and enterprise and e-commerce verticals performed strongly as customers took advantage of our services to enhance end user experience. In particular, we were pleased to add contracts with new provincial subsidiaries of China Mobile and we saw exceptionally strong growth in the Internet video space. We also entered into a number of exciting content and application delivery service contracts with leading provincial television stations to improve the reliability of TV programs delivered across the Internet."

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