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

Noah Holdings Limited Announces 2011 Fourth Quarter And Full Year 2011 Financial Results And Declares Cash Dividend

Net Income

Net income attributable to Noah shareholders for the fourth quarter of 2011 was US$3.5 million, a 16.8% decrease from the corresponding period in 2010. Net margin for the fourth quarter of 2011 was 24.5%, as compared to 30.3% for the corresponding period in 2010. Income per basic and diluted ADS for the fourth quarter of 2011 were both US$0.06, as compared to US$0.08 for the corresponding period in 2010.

Non-GAAP net income attributable to Noah shareholders for the fourth quarter of 2011 was US$4.3 million, a 9.0% decrease from the corresponding period in 2010. Non-GAAP net margin for the fourth quarter of 2011 was 29.4%, as compared to 33.3% for the corresponding period in 2010. Non-GAAP income per diluted ADS for the fourth quarter of 2011 was US$0.07, as compared to US$0.09 for the corresponding period in 2010.

Balance Sheet and Cash Flow

As of December 31, 2011, the Company had US$136.9 million in cash and cash equivalents, a decrease of US$0.6 million from US$137.5 million as of September 30, 2011. In the fourth quarter of 2011, the Company generated US$4.7 million in its operating activities, received US$3.0 million from the maturity of fixed-term deposits, invested US$8.2 million in fixed income products and used US$1.2 million to acquire property and equipment.

DECLARATION OF CASH DIVIDEND

Noah also announced today that its Board of Directors (the "Board") has authorized and approved the Company’s payment of an annual cash dividend of US$0.14 per American depositary share (“ADS”), or US$0.28 per ordinary share (two ADSs represent one ordinary share). The annual dividend is the first since Noah’s initial public offering in November 2010 and will be payable on or about April 15, 2012 to holders of ordinary shares (which includes holders of ADSs) of record as of the close of business on March 30, 2012. Dividends to be paid to the Company’s ADS holders through the depositary bank will be subject to the terms of the deposit agreement, including the fees and expenses payable thereunder. Declaration and payment of future dividends is at the discretion of the Board and may be adjusted as the Board may deem necessary or appropriate in the future.

3 of 6

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs