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

EFuture Announces Unaudited Second Quarter 2013 Financial Results

Basic and diluted loss per share in the second quarter 2013 was RMB1.16 (US$0.19), compared to basic and diluted loss per share of RMB0.12 in the second quarter 2012. Adjusted diluted loss per share was RMB0.84 (US$0.14), compared to adjusted diluted earnings per share of RMB1.02 in the second quarter 2012.

EBITDA

Adjusted EBITDA for the second quarter 2013 was minus RMB3.4 million (US$0.5 million), compared to minus RMB21,793 in the second quarter 2012.

Balance Sheet and Cash Flow  

As of June 30, 2013, cash and cash equivalents were RMB39.5 million (US$6.4 million), a decrease of RMB39.9 million from RMB79.4 million as of December 31, 2012. The decrease was primarily attributable to the payment of annual bonuses for staffs and the expenditure spent on customers' projects.  

Total accounts receivable as of June 30, 2013 decreased 11% to RMB22.5 million (US$3.7 million) from RMB25.2 million as of December 31, 2012. The decrease was a result of our continuous efforts put in to strengthen our balance sheet by improving on trade receivables collection.

Inventory and work in process as of June 30, 2013 increased 26% to RMB24.4 million (US$4.0 million) from RMB19.3 million as of December 31, 2012. The increase was primarily attributable to delayed projects which had not reached the point of revenue recognition.

For the quarter ended June 30, 2013, net cash provided by operating activities was RMB1.8 million (US$0.3 million). Net cash used in investing activities was RMB5.9 million (US$1.0 million).

THIRD QUARTER 201 3 GUIDANCE

eFuture expects total revenue for the third quarter 2013 to be in the range of RMB40 million (US$6.5 million) to RMB45 million (US$7.3 million). Adjusted EBITDA for the third quarter 2013 is expected to be in the range of minus RMB3 million (US$0.5 million) to minus RMB1 million (US$0.2 million).

5 of 9

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 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs