Computeruser.com
Latest News

AsiaInfo-Linkage Reports Unaudited Fourth Quarter and Full Year 2010 Financial Results

BEIJING SANTA CLARA, Calif. Jan. 30, 2011 December 31, 2010

Steve Zhang China China

Recent Developments

July 1, 2010

December 1, 2010

December 31, 2010 December 31, 2008

As a result of the disposition, starting this quarter, AsiaInfo-Linkage will no longer segment results between the telecom solutions business and the IT security business.

January 30, 2011

Fourth Quarter 2010 Financial Results

US$114.4 million US$109.6 million

Gross margin for the fourth quarter of 2010 was 45.3%, compared to 55.1% in the year-ago period and 42.8% in the previous quarter. Gross margin of net revenue (non-GAAP)(2), was 51.8% in the fourth quarter of 2010, compared to 58.5% in the year-ago period and 50.2% in the previous quarter. The decrease in gross margin (non-GAAP) year-over-year was largely due to the Linkage merger, as the Company deployed additional R&D employees into client services driving up cost of revenues. The sequential improvement to the gross margin of net revenue (non-GAAP) was primarily due to the seasonality of our business.

US$35.7 million US$18.8 million US$6.3 million US$1.6 million US$10.6 million

US$16.1 million US$1.6 million

US$0.6 million US$0.5 million

US$0.6 million

US$15.5 million US$0.21 US$13.8 million US$0.29 US$16.5 million US$0.22

US$28.4 million US$0.38 US$18.4 million US$0.38 US$29.6 million US$0.40

December 31, 2010 US$251.8 million US$42.3 million US$61.3 million

1. Net revenue (non-GAAP) measures used in this press release represents total revenue net of third-party hardware costs. A reconciliation of all non-GAAP measures used in this press release to the most directly comparable GAAP measures is provided at the end of this press release.

2. Gross margin of net revenue (non-GAAP) is calculated by dividing gross profit, excluding amortization of acquired intangibles related to the Linkage merge, by net revenue (non-GAAP).

3. Operating margin of net revenue (non-GAAP) is calculated by dividing operating income, excluding amortization of intangibles related to the Linkage merger, divided by net revenue (non-GAAP).

4 . Net income attributable to AsiaInfo-Linkage, Inc. (non-GAAP) and net income attributable to AsiaInfo-Linkage, Inc. (non-GAAP) per share measures exclude share-based compensation expenses, amortization of acquired intangible assets, impairment loss on investment, after-tax dividend income and non-recurring merger related expenses.

Full Year 2010 Financial Results

AsiaInfo-Linkage’s full year revenues, gross margin and operating margin do not include the IT security business, which has been reclassified to discontinued operations.

US$343.4 million US$329.3 million

Gross margin for full year 2010 was 49.4%, compared to 53.0% in the year-ago period. Gross margin of net revenue (non-GAAP) for full year 2010, excluding amortization of intangibles related to the Linkage merger and third party hardware costs, was 54.5%, compared to 56.2% in the year-ago period. The lower gross margin for full year 2010 was primarily due to increases in cost of revenues related to the Linkage merger, as the Company deployed additional R&D employees into client services driving up cost of revenues.

US$109.5 million

US$56.2 million US$0.92 US$35.9 million US$0.79 US$91.0 million US$1.49 US$49.8 million US$1.10

US$48.0 million

Business Outlook

US$108.0 million to US$112.0 million US$0.37 to US$0.39

ASIAINFO-LINKAGE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(Amounts in thousands of US$, except share and per share amounts)

Three Months

Ended Dec. 31,

Twelve Months

Ended Dec. 31,

2010

2009

2010

2009

Revenues:

Software products and solutions

$101,201

$52,359

$301,970

$179,177

Service

8,137

5,271

26,596

21,704

Third party hardware

5,042

3,719

14,817

12,875

Total revenues

114,380

61,349

343,383

213,756

Cost of revenues:

Software products and solutions

53,703

20,374

147,386

78,780

Service

4,104

3,625

12,341

9,439

Third party hardware

4,789

3,534

14,074

12,231

Total cost of revenues

62,596

27,533

173,801

100,450

Gross profit

51,784

33,816

169,582

113,306

Operating expenses:

Sales and marketing

18,835

8,352

50,019

32,868

General and administrative

6,259

5,492

23,284

16,582

Research and development

10,606

8,171

36,172

30,415

Government subsidy

(1,342)

Total operating expenses

35,700

22,015

109,475

78,523

Income from operations

16,084

11,801

60,107

34,783

Other income, net:

580

512

3,196

3,567

Income before provision for income taxes and   discontinued operations

16,664

12,313

63,303

38,350

Provision for income taxes

1,942

1,072

9,560

4,893

Income from continuing operations

14,722

11,241

53,743

33,457

Income from discontinued operations

557

2,123

1,058

1,973

Net Income

15,279

13,364

54,801

35,430

Less: Net loss attributable to noncontrolling interest

(226)

(435)

(1,410)

(429)

Net income attributable to AsiaInfo-Linkage, Inc.

$15,505

$13,799

$56,211

$35,859

Earnings per share:

Net income from continuing operations attributable to AsiaInfo-Linkage, Inc. common stockholders:

Basic

$0.20

$0.25

$0.90

$0.75

Diluted

$0.20

$0.25

$0.89

$0.73

Net income from discontinued operations attributable to AsiaInfo-Linkage, Inc. common stockholders

Basic

$0.01

$0.04

$0.02

$0.04

Diluted

$0.01

$0.04

$0.02

$0.04

Net income attributable to AsiaInfo-Linkage, Inc. common stockholders:

Basic

$0.21

$0.29

$0.92

$0.79

Diluted

$0.21

$0.29

$0.91

$0.77

Weighted average shares used in computation:

Basic

74,904,875

46,825,099

61,036,299

45,182,831

Diluted

75,473,867

47,771,540

61,782,710

46,386,278

ASIAINFO-LINKAGE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Amounts in thousands of US$, except share amounts)

As of

Dec. 31, 2010

Dec. 31, 2009

ASSETS:

Current Assets:

Cash and cash equivalents

$237,844

$238,553

Restricted cash

13,943

5,540

Short term investments – available for sale securities

31,682

27,674

Short term investments – held to maturity securities

10,570

13,716

Accounts receivable, trade (net of allowances of $2,514 and $2,619 as of

December 31, 2010 and December 31, 2009, respectively)

258,338

129,646

Inventories, net

9,902

9,535

Other receivable

5,934

2,841

Deferred income taxes assets – current

13,781

2,968

Prepaid expenses and other current assets

4,774

5,679

Total current assets

$586,768

$436,152

Long term investment

5,646

4,696

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test