CDC Corp Posts Impressive Q1 Results

By TechSecurityChina.com Editor
May 26, 2006

CDC Corporation’s (CHINA) financial results for the first quarter ending March 31, 2006 show the company exceeded its preliminary estimated ranges for both revenue and adjusted net income.

Actual revenues were US$64.6 million compared to an estimated range of US$63.8 million to $64.2 million. Adjusted net income was US$5.9 million, compared to an estimated range of US$4.8 million to US$5.1 million.

Total software revenues in Q1 2006 were US$53.0 million, an increase of 13.7% from US$46.6 million in Q1 2005.

Consulting and services revenues were US$28.8 million in Q1 2006, an increase of 21.5% from US$23.7 million in Q1 2005. Software license revenues were US$8.8 million in Q1 2006, up 7.3% from US$8.2 million in Q1 2005. Maintenance revenues were US$15.4 million in Q1 2006, up 5.5% from US$14.6 million in Q1 2005.

Total revenues for China.com during Q1 2006 were US$11.5 million, an increase of 19.8% from US$9.6 million in Q1 2005. Total MVAS revenue for Q1 2006 was US$8.6 million, representing 74.8% of total revenues for China.com. The remaining 25.2% of China.com’s revenues were attributable to its Internet and media businesses.

The balance sheet as of March 31, 2006 included Non-GAAP net cash and cash equivalents of US$216.8 million.

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