CTRP » Topics » Highlights for the fourth quarter of 2006

This excerpt taken from the CTRP 6-K filed Feb 12, 2007.

Highlights for the fourth quarter of 2006

 

   

Net revenues were RMB226 million (US$29 million) for the fourth quarter of 2006, up 45% year-on-year.

 

   

Gross margin was 80% for the fourth quarter of 2006, compared to 81% in the same period in 2005.

 

   

Income from operations was RMB75 million (US$10 million) for the fourth quarter of 2006. Excluding share-based compensation charges (non-GAAP), income from operations was RMB89 million (US$11 million), up 44% year-on-year.

 

   

Operating margin was 33% in the fourth quarter of 2006. Excluding share-based compensation charges (non-GAAP), operating margin was 39%, compared to 40% during the same period in 2005.

 

   

Net income was RMB67 million (US$9 million) in the fourth quarter of 2006. Excluding share-based compensation charges (non-GAAP), net income was RMB81 million (US$10 million), up 28% year-on-year.

 

   

Diluted earnings per share were RMB2.00 (US$0.26). Excluding share-based compensation charges (non-GAAP), diluted earnings per share were RMB2.41 (US$0.31).

 

   

With the company’s adoption of FAS123R in 2006, share-based compensation charges were RMB14 million (US$2 million), which accounted for 6% of the net revenues, or RMB0.41 (US$0.05) per share for the fourth quarter of 2006.

This excerpt taken from the CTRP 6-K filed Nov 9, 2006.

Highlights for the third quarter of 2006

 

    Net revenues were RMB208 million (US$26 million) for the third quarter of 2006, up 47% year-on-year.

 

    Gross margin was 79% for the third quarter of 2006, compared to 83% in the same period in 2005 largely due to the relatively higher cost of service as a result of increased revenue contribution from air ticketing services and packaged tours.

 

    Income from operations was RMB64 million (US$8 million) for the third quarter of 2006. Excluding share-based compensation charges (non-GAAP), income from operations was RMB78 million (US$10 million), up 23% year-on-year.

 

    Operating margin was 31% in the third quarter of 2006. Excluding share-based compensation charges (non-GAAP), operation margin was 38%, compared to 45% during the same period in 2005.

 

    Net income was RMB65 million (US$8 million) in the third quarter of 2006. Excluding share-based compensation charges (non-GAAP), net income was RMB79 million (US$10 million), up 20% year-on-year.

 

    Net margin was 31% in the third quarter of 2006. Excluding share-based compensation charges (non-GAAP), net margin was 38%, compared to 47% in the same period in 2005.

 

    Fully diluted earnings per share were RMB1.94 (US$0.25). Excluding share-based compensation charges (non-GAAP), fully diluted earnings per share were RMB2.36 (US$0.30).

 

    Share-based compensation charges were RMB14 million (US$2 million), which accounted for 7% of the net revenues, or RMB0.43 (US$0.05) per share for the third quarter of 2006.

Min Fan, Chief Executive Office of Ctrip, said: “I am very proud of the results Ctrip has achieved during the third quarter of 2006. We have demonstrated strong execution capability and excellent leadership during the transition period from paper tickets to e-tickets. We expect to continue our solid business growth going forward.”

This excerpt taken from the CTRP 6-K filed Aug 10, 2006.

Highlights for the Second Quarter of 2006

 

    Net revenues were RMB190 million (US$24 million) in the second quarter of 2006, up 47% year-on-year.

 

    Gross margin was 81% in the second quarter of 2006, compared to 85% in the same period in 2005 largely due to higher cost of service as a result of increased revenue contribution from air ticketing services.

 

    Income from operations was RMB66 million (US$8 million) in the second quarter of 2006 on a GAAP basis. Excluding share-based compensation charges (non-GAAP), income from operations was RMB79 million (US$10 million), up 36% year-on-year.

 

    Operating margin was 35% in the second quarter of 2006. Excluding share-based compensation charges (non-GAAP), operation margin was 42%, compared to 45% during the same period in 2005.

 

    Net income was RMB61 million (US$8 million) in the second quarter of 2006 on a GAAP basis. Excluding share-based compensation charges (non-GAAP), net income was RMB74 million (US$9 million), up 30% year-on-year.

 

    Net margin was 32% in the second quarter of 2006. Excluding share-based compensation charges (non-GAAP), net margin was 39%, compared to 44% in the same period in 2005.

 

    Fully diluted earnings per share were RMB1.82 (US$0.23). Excluding share-based compensation charges (non-GAAP), fully diluted earnings per share were RMB2.22 (US$0.28).

 

    Share-based compensation charges were RMB13 million (US$2 million), which accounted for 7% of the net revenues, or RMB0.40 (US$0.05) per share for the second quarter of 2006.

“We are very glad to report our solid performance during the second quarter of 2006. We were able to strengthen our market presence and enhance customers’ satisfaction through operational excellence. We are confident that Ctrip will continue its healthy growth in the future.” said Min Fan, Chief Executive Officer of Ctrip.

This excerpt taken from the CTRP 6-K filed May 18, 2006.

Highlights for the First Quarter of 2006

 

    Achieved record net revenues of RMB156 million (US$19 million) in the first quarter of 2006, up 60% year-on-year.

 

    Gross margin was 82% in the first quarter of 2006, compared to 85% in the same period in 2005 largely due to higher cost of service as a result of increased revenue contribution from air ticketing services.

 

    Income from operations was RMB50 million (US$6 million) in the first quarter of 2006 on a GAAP basis. Excluding share-based compensation charges (non-GAAP), income from operations was RMB63 million (US$8 million), up 56% year-on-year.

 

    Operating margin was 32% in the first quarter of 2006 on a GAAP basis. Excluding share-based compensation charges (non-GAAP), operation margin was 40%, compared to 41% during the same period in 2005.

 

    Net income was RMB48 million (US$6 million) in the first quarter of 2006 on a GAAP basis. Excluding share-based compensation charges (non-GAAP), net income was RMB62 million (US$8 million), up 54% year-on-year.

 

    Net margin was 31% in the first quarter of 2006 on a GAAP basis. Excluding share-based compensation charges (non-GAAP), net margin was 40%, compared to 41% in the same period in 2005.

 

    GAAP fully diluted earnings per ADS were RMB1.48 (US$0.18). Non-GAAP fully diluted earnings per ADS were RMB1.88 (US$0.23).

 

    Share-based compensation charges were RMB13 million (US$2 million), accounted for 9% of the net revenues, or RMB0.41 (US$0.05) per ADS for the first quarter of 2006.

“Despite the fact that the first quarter is normally the slowest season in a year for business travel, we achieved another record quarter in terms of our revenue growth. The continuously rapid growth in travel industry and the effective execution of our strategies in serving the frequent independent travelers market enabled us to increase our revenues across all three major product lines.” said Min Fan, Chief Executive Officer of Ctrip.

James Liang, Chairman of the Board of Ctrip, said: “We are very proud of our achievement in the first quarter. We were able to build upon our past success and continued to deliver excellent results by leveraging our strong brand, scalable business model and loyal customer base. Looking ahead, we are confident that we will continue the healthy growth and achieve optimal return for our shareholders.”

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