CHINACASHE Q1 NET REACHED CNY3.2MN

AsiaInfo Services
05-10-2011
ChinaCashe Q1 Net Reached CNY3.2mn

BEIJING, May 10, 2011 (SinoCast Daily Business Beat via COMTEX) -- ChinaCache International Holdings Ltd. (Nasdaq: CCIH) released its 1st-quarter financial report by March 31, 2011, showing net income up to CNY 136.4 million or USD 20.8 million, 79.6% higher year on year but 10.0% lower quarter on quarter. The net profit was CNY 3.2 million or USD 489,000.

In the same reporting period, the Nasdaq-listed company's cost of revenues hit CNY 93.40 million or USD 14.3 million, a year-on-year growth of 72.3%. Sale & operation expenses reached CNY 13.90 million or USD 2.10 million, 31.6% higher than the first quarter of previous year but 19.9% lower than last quarter. First-quarter operating profits were CNY 5.3 million or USD 806,000. Up to March 31, 2011. Total value of cash and cash equivalent was CNY 578.9 million or USD 88.50 million).

Net incomes in the second quarter are expected to be between CNY 144 million and CNY 140 million (equivalent to USD 22-22.80 million), up 52.5%-57.8% year on year.

Source: www.hexun.com (May 10, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: General Industry Information
General Industry Information
SinoCast China Business Daily news
1st-quarter financial report
net profits
net income

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