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ChinaCache International Holdings Ltd. Announces Second Quarter 2012 Financial Results

Stocks in this article: CCIH

BEIJING, Aug. 21, 2012 (GLOBE NEWSWIRE) -- ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (Nasdaq:CCIH), the leading total solutions provider of internet content and application delivery services in China, today announced its unaudited condensed consolidated financial results for the Company's second quarter ended June 30, 2012.

Highlights for the Second Quarter of 2012

  • Net revenues in the second quarter were RMB197.5 million (US$31.1 million), representing an 8.6% increase from the previous quarter and a 36.3% increase year-over-year.
  • Gross profit in the second quarter was RMB62.1 million (US$9.8 million), up 10.3% from the previous quarter and 44.4% year-over-year.
  • Gross margin in the second quarter was 31.4%, compared to 30.9% in the first quarter of 2012 and 29.7% in the corresponding quarter in 2011. Adjusted gross margin (non-GAAP) in the second quarter was 39.1%.
  • Net income in the second quarter was RMB4.3 million (US$0.7 million), compared to RMB2.5 million in the first quarter of 2012, up 70.8% sequentially and compared to a net loss of RMB5.7 million in the corresponding period in 2011.

"We are pleased that we delivered another strong quarter, which is a reflection of ChinaCache's clear strategy and solid execution," said Mr. Song Wang, co-founder, chairman and chief executive officer of ChinaCache. "Looking ahead, we will continue to benefit from the secular industry growth in China and the rest of Asia and embrace the vast opportunities particularly in the mobile Internet space. We remain focused on investing in innovations to build our Content-aware Network Services and deliver differentiated services to our diverse customer base."

"The second quarter was highlighted by our strong top line growth coupled with continued improvement in gross margin and net profit," said Ms. Jackie You Kazmerzak, chief financial officer of ChinaCache. "With improved operating efficiency, continuous introduction of new solutions and the penetration into brick-and-mortar customers, we aim to increase our profitability and enhance shareholder value."

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