Saturday, May 21, 2011

XFL turns profitable in Q1

News this week: Xinhua Finance Limited (XFL), a China-market focused financial information provider, has reported financial results for the quarter ended 31st March 2011. Net sales in the period were US$4.3 million, a 38% increase over the same period in the previous year. Net profit in the quarter was US$1.8 million, compared with a US$1.3 million loss last year. Basic earnings per share were US$1.22 in the quarter.

XFL’s management also released its forecast for the interim and full year 2011. In the first half, the company expects revenues to be US$11 million and to post a loss of US$5.1 million. For the full year 2011, the company is forecasting revenues to be US$24 million with a loss of US$8.6 million.

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.

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