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TheStreet Open House

EFuture Announces Unaudited Fourth Quarter And Full Year 2013 Financial Results

BEIJING, March 17, 2014 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (the "Company" or "eFuture"), a leading provider of software and services in China's rapidly growing retail and consumer goods industries, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2013.

Full Year 201 3 Financial Highlights

  • Total revenue increased 0.4% year-over-year to RMB199.2 million (US$32.9 million).
  • Gross profit increased 3% year-over-year to RMB81.0 million (US$13.4 million).
  • Adjusted EBITDA decreased 96% to RMB0.6 million (US$0.1 million).
  • Operating loss was RMB6.4 million (US$1.1 million), compared to an operating income of RMB1.5 million in 2012.
  • Net loss was RMB6.2 million (US$1.0 million), compared to a net loss of RMB4.5 million in 2012.
  • Adjusted net loss was RMB1.1 million (US$0.2 million), compared to an adjusted net income of RMB8.2 million in 2012.
  • Basic and diluted loss per share was RMB1.47 (US$0.24), as compared to basic and diluted loss per share of RMB1.10 in 2012.
  • Adjusted diluted loss per share was RMB0.26 (US$0.04), as compared to adjusted diluted earnings per share of RMB2.00 in 2012.

Fourth Quarter 20 13 Financial Highlights

  • Total revenue decreased 7% year-over-year to RMB91.2 million (US$15.1 million).
  • Gross profit increased 6% year-over-year to RMB42.0 million (US$6.9 million).
  • Adjusted EBITDA was RMB9.9 million (US$1.6 million), compared to RMB18.5 million in the fourth quarter 2012.
  • Operating income was RMB8.4 million (US$1.4 million), compared to RMB16.1 million in the fourth quarter 2012.
  • Net income was RMB6.4 million (US$1.1 million), compared to RMB3.0 million in the fourth quarter 2012.
  • Adjusted net income was RMB7.4 million (US$1.2 million), compared to adjusted net income of RMB5.0 million in the fourth quarter 2012.
  • Basic and diluted earnings per share were RMB1.50 (US$0.25), as compared to RMB0.74 in the fourth quarter 2012.
  • Adjusted diluted earnings per share was RMB1.74 (US$0.29), as compared to adjusted diluted earnings per share of RMB1.20 in the fourth quarter 2012.

Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, commented on the results. "We are pleased with eFuture's 2013 performance which gave us a more diversified product portfolio, strengthened market leadership and stable revenue stream that allows us to continue the strategic imperative of investing in our future, transforming from a traditional software solutions provider to a shopping social network service, via myStore to transfer offline consumers to mobile consumers (O2M) for the retailers in China retail industry.

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