All instances of "diluted earnings per ADS" in the release dated April 13, 2011 should read: "diluted earnings per ordinary share."
The corrected release reads:
LENTUO INTERNATIONAL INC. ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2010 FINANCIAL RESULTS
4Q10 Revenue Increased 70.0% Year-Over-Year4Q10 Net Income Increased 40.2% Year-Over-Year FY10 Revenues Increased 43.7% Year-Over-Year FY10 Net Income Increased 25.4% Year-Over-Year Lentuo International Inc. (NYSE: LAS) (“Lentuo” or the “Company”), the largest non-state-owned automobile retailer in Beijing, China as measured by new vehicle sales revenues in 2009, today announced unaudited financial results for the fourth quarter and fiscal year of 2010. Fourth quarter 2010 Financial Highlights
- Revenues in the fourth quarter of 2010 increased 70.0% year-over-year to RMB1.1 billion ($167.4 million).
- The number of vehicles sold in the fourth quarter of 2010 increased 61.5% year-over-year to 6,292 units.
- The average unit price in the fourth quarter 2010 increased 8.2% year-over-year to RMB164,879.
- Net income was RMB49.0 million ($7.4 million), an increase of 40.2% from RMB34.9 million in the comparable period of 2009. Diluted earnings per ordinary share was RMB1.01 ($0.15).
- Revenues in the full year of 2010 increased 43.7% year-over-year to RMB3.4 billion ($509.6 million).
- The number of vehicles sold in the full year of 2010 increased 20.8% year-over-year to 18,176 units.
- The average unit price for the full year of 2010 increased 19.4% year-over-year to RMB169,182.
- Net income attributable to ordinary shareholders and comprehensive income in 2010 was RMB161.4 million ($24.5 million), an increase of 25.4% from RMB128.7 million in the full year 2009. Diluted earnings per ordinary share was RMB3.77 ($0.57).
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