SouFun Holdings Limited (NYSE: SFUN) (“ SouFun” or the “ Company”), the leading real estate and home furnishing Internet portal in China, today announced its unaudited financial results for the first quarter of 2012.
First Quarter 2012 Highlights
Revenues grew 43.4% to US$58.5 million compared to the first quarter of 2011.
Operating income was US$13.7 million, an increase of 131.3% compared to the first quarter of 2011. Non-GAAP operating income was US$15.0 million, an increase of 89.0% compared to the first quarter of 2011.Net income attributable to shareholders was US$14.5 million, an increase of 152.9% compared to the first quarter of 2011. Non-GAAP net income attributable to shareholders was US$14.2 million, an increase of 83.3% compared to the first quarter of 2011. “We are happy to deliver the 6 th consecutive better than guidance results after IPO,” said Vincent Mo, Executive Chairman of SouFun. “SouFun’s strong market leadership and sound fundamental plus its creative innovations made its great performance, even though China’s real estate and home furnishing markets were very dynamic. In addition, we are pleased that SouFun successfully passed its first year SOX 404 audit after IPO and the company will continue its efforts to implement tight internal control.” Financial Results for First Quarter 2012 Revenues For the first quarter of 2012, SouFun had total revenues of US$58.5 million, an increase of 43.4% compared to US$40.8 million for the same period of 2011. The increase primarily came from the New Home business line. Revenue from marketing services was US$34.3 million for the first quarter of 2012, an increase of 21.5% compared to US$28.2 million for the same period of 2011. Revenue from listing services was US$10.9 million for the first quarter of 2012, a decrease of 3.0% compared to US$11.3 million for the same period of 2011.
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