E-House (China) Holdings Limited ("E-House" or the "Company") (NYSE: EJ), a leading real estate services company in China, today announced its unaudited financial results for the fiscal quarter and full year ended December 31, 2010.
Fourth Quarter 2010 Financial and Operating Highlights
Total gross floor area ("GFA") of new properties sold increased by 15% year-on-year to 4.2 million square meters. Total value of new properties sold increased by 49% year-on-year to RMB40.6 billion ($6.1 billion)(1).
Total revenues increased by 7% year-on-year to $125.2 million.
Non-GAAP(2) income from operations decreased by 22% year-on-year to $36.8 million.
Non-GAAP net income attributable to E-House shareholders decreased by 39% year-on-year to $20.9 million, or $0.25 per diluted American depositary share ("ADS").
Full Year 2010 Financial and Operating Highlights
Total GFA of new properties sold was 11.9 million square meters for full year 2010, an increase of 8% from 2009. Total value of new properties sold was RMB106.2 billion ($15.8 billion) for full year 2010, an increase of 22% from 2009.
Total revenues were $356.5 million for full year 2010, an increase of 19% from 2009, including $66.8 million contributed by CRIC's online segment. The remaining revenues were $289.7 million, an increase of 1% from 2009 on the same basis.
Non-GAAP net income was $93.9 million for full year 2010, a decrease of 16% from 2009. Non-GAAP net income includes $12.6 million attributable to CRIC's online segment, while the remaining non-GAAP net income decreased by 23% to $81.3 million.
Non-GAAP net income attributable to E-House shareholders was $65.8 million, or $0.80 per diluted ADS for full year 2010, a decrease of 36% from 2009.
