Boston, MA 05/16/2014 (wallstreetpr) – One of the largest companies ChinaCache Internatnl Hldgs Ltd. (NASDAQ:CCIH) has announced the earnings for the first quarter of the current year. Below are the details of this announcement made by the company few days back-
Details of financial performance in the Q1:
The first quarter of the current year was very good for ChinaCache Internatnl Hldgs Ltd. (NASDAQ:CCIH). As far as the revenues are concerned, the company posted net revenues of $52.1 million in the first quarter. Please note that this revenue is 40.4% more than the last year’s revenue on YOY basis. The gross profit of the company was recorded as $15.8 million in the Q1, which is 38.0% more than the Q1 of year 2013 on YOY basis.
Not only the revenues, but the company performed well in terms of adjusted EBITDA. ChinaCache Internatnl Hldgs Ltd. (NASDAQ:CCIH) earned non GAAP EBITDA of $4.1 million. This figure is 25.2% more than the non GAAP EBITDA of the company in the previous quarter. If compared to the first quarter of the year 2013, this figure is 159.8% more than the EBITDA earned by the company a year ago on YOY basis.
If taken into consideration the net income of the company which is available for ordinary share holders, the company made US$1.0 million in the Q1 of 2014. This is the first time when company has managed to post a positive figure. The Company managed only loss in previous two quarters.
Adjusted net income or non GAAP income in the Q1 2014 for ChinaCache Internatnl Hldgs Ltd. (NASDAQ:CCIH) was US$0.4 million. Please note that the company managed loss figure in the previous two quarters. The management of the company looks quite hopeful about the financial results in the coming months. With the market conditions are getting better day by day, the management thinks that the profit figure and net revenue figure will also go higher in the Q1 of year 2014.
