Total operating expenses were $18.8 million in the second quarter of 2012, representing a decrease of 30.1% from $26.9 million in the second quarter of 2011.
Selling, general and administrative expenses were $18.6 million in the second quarter of 2012, representing a decrease of 28.5% from $26.0 million in the second quarter of 2011, which was primarily due to the combined effects of a decrease in marketing costs as the Company remained conservative in its sales and marketing activity and a decrease in labor costs and office expenses.
Loss from OperationsLoss from operations was $5.4 million in the second quarter of 2012, compared to loss from operations of $5.4 million in the second quarter of 2011. Net Loss and Loss per ADS Net loss was $4.9 million in the second quarter of 2012, compared to net loss of $3.4 million in the second quarter of 2011. Non-GAAP net loss 3 was $4.3 million in the second quarter of 2012, compared to non-GAAP 3 net loss of $2.5 million in the second quarter of 2011. Basic and diluted loss per American Depositary Share ("ADS") attributable to Mecox Lane shareholders was $0.09 in the second quarter of 2012. One ADS represents seven ordinary shares. Cash and Short-term Investments As of June 30, 2012, Mecox Lane had cash and cash equivalents totaling $47.2 million, compared to $40.1 million as of December 31, 2011. Short-term investments on June 30, 2012 were $4.7 million compared to $20.6 million as of December 31, 2011, all of which were structured term bank deposits. Conference Call Information Mecox Lane management will hold an earnings conference call at 9 p.m. U.S. Eastern Time on August 14, 2012 (9 a.m. Shanghai/Hong Kong Time on August 15, 2012) to discuss results and highlights from the quarter and answer questions. A brief presentation to accompany the earnings call will be available on the Company's website, http://ir.m18.com/events.cfm, at 7:30 p.m. U.S. Eastern Time on August 14, 2012 (7:30 a.m. Shanghai/Hong Kong Time on August 15, 2012). The dial-in numbers and passcode for the conference call are as follows:
|U.S. Toll Free:||+1-855-500-8701|
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