Sunday, November 06, 2011

Netsun revenue & profit drop in Q3

News this week: Shenzhen-listed online sourcing platform, Zhejiang Netsun announced its financial results for the quarter ended 30th September 2011. Revenues were US$5.6 million, representing an 8.4% decrease over the same quarter in 2010. The company posted a net profit of US$1.04 million, a 37% drop compared with the third quarter of 2010. Management did not provide reasons for the decrease in revenue and profit.

The Hangzhou-based company also released its results for the nine months ended 30th September. Revenues were US$17 million, which is a decrease of 3.3% compared with the first nine months of 2010. Net profit in the period was US$4.2 million, slipping 35% from the same period last year. Earnings per share in the first nine months of the year were RMB 0.16 (US$0.025).

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

No comments: