BEIJING, May 15, 2014 (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 first quarter ended March 31, 2014. Highlights for the First Quarter of 2014
- Net revenues in the first quarter were RMB323.9 million (US$52.1 million), exceeded prior guidance by approximately 5.2%, and representing a 40.4% increase year-over-year.
- Gross profit in the first quarter was RMB98.3 million (US$15.8 million), an increase of 38.0% year-over-year.
- Adjusted EBITDA (non-GAAP) in the first quarter was RMB25.4 million (US$4.1 million), a 25.2% increase from the prior quarter and a significant improvement of 159.8% year-over-year.
- Net income attributable to ordinary shareholders in the first quarter was RMB6.3 million (US$1.0 million), compared with a net loss attributable to ordinary shareholders of RMB14.0 million in the fourth quarter of 2013 and a net loss attributable to ordinary shareholders of RMB8.5 million in the corresponding period in 2013.
- Adjusted net income (non-GAAP) was RMB2.7 million (US$0.4 million) in the first quarter, compared with adjusted net loss (non-GAAP) of RMB7.2 million in the fourth quarter of 2013 and adjusted net loss (non-GAAP) of RMB7.5 million in the corresponding period in 2013.