2007'05.24.Thu
The9 Limited Reports First Quarter 2007 Unaudited Financial Results
May 22, 2007
SHANGHAI, China, May 22 /Xinhua-PRNewswire/ -- The9
Limited
(Nasdaq: NCTY) ("The9"), a leading online game
operator in China, announced today its unaudited financial
results for the first quarter ended March 31, 2007.
First Quarter 2007 Financial Highlights:
-- Net revenues for the first quarter of 2007
decreased by 4%
quarter-over-quarter and increased 27%
year-over-year to
RMB270.0 million (US$35.0 million).
-- Net revenues attributable to the operations of
Blizzard
Entertainment(R)'s World of Warcraft(R)
("WoW")(1), which
included revenues from game playing time,
merchandise and
installation package sales, decreased by 5%
quarter-over-quarter and increased 27%
year-over-year to
RMB266.3 million (US$34.5 million) in the first
quarter of
2007.
-- Net income for the first quarter of 2007 was
RMB66.1 million
(US$8.6 million), a 37% decrease from RMB105.1
million
(US$13.6 million) in the fourth quarter of 2006,
and a 12%
increase from RMB58.8 million (US$7.6 million) in
the first
quarter of 2006. Excluding a financial subsidy of
RMB19.8
million (US$2.6 million) received from the local
government,
gain on investment disposal of RMB23.4 million
(US$3.0
million) from the sale of certain equity
investment, and
impairment loss on one of our investments of
RMB20.4 million
(US$2.6 million) in the fourth quarter of 2006, net
income
for the first quarter of 2007 decreased by 20% from
the
previous quarter.
-- EBITDA (non-GAAP) was RMB117.7 million (US$15.2
million) in
the first quarter of 2007, a quarter-over-quarter
decrease of
20% from RMB146.6 million (US$19.0 million) in the
fourth
quarter of 2006, and a year-over-year increase of
18% from
RMB99.6 million (US$12.9 million) in the first
quarter of
2006.
-- Fully diluted earnings per share (one American
Depositary
Share "ADS" represents one ordinary
share) were RMB2.65
(US$0.34) for the first quarter of 2007, compared
with
RMB4.25 (US$0.55) for the fourth quarter of 2006,
and RMB2.42
(US$0.31) for the first quarter of 2006. Fully
diluted
EBITDA (non-GAAP) per share were RMB4.72 (US$0.61)
for the
first quarter of 2007, compared with RMB5.93
(US$0.77) for
the fourth quarter of 2006 and RMB4.10 (US$0.53)
for the
first quarter of 2006.
Management Comments:
With respect to the first quarter 2007 results, Jun
Zhu, Chairman and Chief Executive Officer of The9
commented, "We are pleased to report that The9 has
achieved solid financial results in the first quarter of
2007. Despite the seasonal holiday impact in the quarter,
we were able to maintain relatively stable user levels for
Blizzard Entertainment(R)'s World of Warcraft(R) game in
China. In the first quarter of 2007, we attained peak and
average concurrent WoW users in mainland China of
approximately 680,000 and 330,000, respectively. As of
March 31, 2007, over 7.5 million paid accounts had been
activated(2).
While we continue to prepare for the launch of WoW's
major expansion pack: The Burning Crusade(TM), we started
open beta testing for the highly anticipated Soul of The
Ultimate Nation(TM) game in China in April and achieved a
peak concurrent user level of over 400,000 users. We
believe the strong preliminary result of SUN's open beta
testing is indicative of The9's transition from a one-game
to a multi-game company with diversified sources of
revenue. In addition, Electronic Arts Inc. recently became
a strategic investor of The9, and concurrently with their
investment, we obtained the exclusive license to operate EA
SPORTS(TM) FIFA Online, a blockbuster online soccer game, in
mainland China. We recently also obtained the exclusive
license to operate Audition 2, an advanced casual dancing
online game, in mainland China. These exciting new
developments are solid proof of The9's ability to execute
our focused strategy of introducing high-quality games to
the China online game market and to further diversify our
game portfolio to include casual style games to address a
wider range of audiences."
Hannah Lee, Vice President and Chief Financial Officer,
commented, "Despite the seasonality impact to the WoW
game, we achieved solid financial and operational results
for the first quarter of 2007. With the upcoming launch of
The Burning Crusade(TM) expansion pack together with the
accompanying opening of a new server site, we expect, based
on responses from overseas players, that even more players
will be attracted to the World of Warcraft(R)game. SUN's
strong open beta testing results increased our confidence
that the game will bring additional sources of revenue for
the Company and will enhance and diversify the number of
our revenue-generating games. In addition to our strong
MMORPG portfolio, FIFA Online and Audition 2 will be The9's
initial steps into the growing casual game arena. We
believe The9 is well positioned for further sustainable
growth in the rapidly evolving Chinese online game
market."
Discussion of The9's First Quarter 2007 Results
(Preliminary Unaudited)
Revenues
For the first quarter of 2007, The9 reported total
gross revenues of RMB284.7 million (US$36.9 million), a 4%
decrease from RMB297.8 million (US$38.6 million) in the
fourth quarter of 2006 and a 27% increase from RMB223.5
million (US$28.9 million) in the first quarter of 2006.
Total net revenues were RMB270.0 million (US$35.0 million),
a 4% decrease from RMB282.7 million (US$36.6 million) in the
fourth quarter of 2006 and a 27% increase from RMB212.1
million (US$27.5 million) in the first quarter of 2006.
The quarter-over-quarter revenue decrease was mainly due to
the seasonal impact on Blizzard Entertainment(R)'s World of
Warcraft(R)'s usage during the Chinese New Year and winter
holiday.
Net revenues attributable to the operations of Blizzard
Entertainment(R)'s World of Warcraft(R), including game
playing time, merchandise and installation package sales,
were RMB266.3 million (US$34.5 million) in the first
quarter of 2007, a 5% decrease from the previous quarter
due primarily to the holiday impact, and a 27% increase
from the same period of last year.
For the first quarter of 2007, online game services
gross revenues were RMB281.3 million (US$36.4 million), a
5% decrease from RMB296.7 million (US$38.4 million) in the
fourth quarter of 2006 and a 27% increase from RMB220.8
million (US$28.6 million) in the first quarter of 2006.
For the first quarter of 2007, gross revenues from game
operating support, website solutions and advertisement, were
RMB2.6 million (US$0.3 million), an increase of 430% from
the previous quarter and 247% from the same period of last
year. The increase in these revenues was mainly due to
certain technical support services provided in the quarter,
where no such services were provided in the previous quarter
or in the same period last year.
Other gross revenues mainly included sales of WoW
related merchandise and installation packages. For the
first quarter of 2007, other gross revenues were RMB0.8
million (US$0.1 million) compared to RMB0.6 million
(US$0.08 million) in the fourth quarter of 2006 and RMB1.9
million (US$0.2 million) in the first quarter of 2006. The
quarter-over-quarter increase was primarily due to sales of
installation packages of the Guild Wars game during the
first quarter of 2007 when it commenced open beta testing
while there were no such revenues in the previous quarter.
Gross Profit
Gross profit for the first quarter of 2007 decreased by
3% quarter-over-quarter but increased 37% year-over-year to
RMB130.3 million (US$16.9 million). The sequential
decrease of gross profit was mainly due to decreased
revenues as mentioned above. Gross profit margin for the
first quarter 2007 remained relatively stable at 48%
compared to the previous quarter, but improved from 45% in
the same period of last year.
Operating Expenses
For the first quarter of 2007, operating expenses were
RMB58.1 million (US$7.5 million), a 6% increase from
RMB54.7 million (US$7.1 million) in the previous quarter
and a 52% increase from RMB38.3 million (US$5.0 million) in
the same period of last year. The sequential increase in
operating expenses was primarily due to increased product
development expenses relating to certain costs for Soul of
The Ultimate Nation(TM) and Guild Wars during their
respective closed and open beta testing phases, partially
offset by decreased sales and marketing expenses incurred
for WoW as relatively less updates were introduced in the
first quarter.
Income from Operations
For the first quarter of 2007, profit from operations
decreased by 10% quarter-over-quarter but increased 27%
year-over-year to RMB72.1 million (US$9.3 million).
Operating margin for the first quarter of 2007 was 27%,
remained stable compared to 28% in the previous quarter and
27% in the same period of last year. The slight sequential
decline of operating margin was a combined result of
decreased revenues and increased operating expenses as
mentioned above.
Other Income (Expenses)
Other expenses for the first quarter of 2007 was RMB0.9
million (US$0.1 million) compared to other income of RMB19.1
million (US$2.5 million) in the fourth quarter of 2006 and
other expenses of RMB0.5 million (US$0.06 million) in the
first quarter of 2006. The sequential difference was
primarily due to the receipt of a financial subsidy of
RMB19.8 million (US$2.6 million) from the local government
in the fourth quarter of 2006, compared to no such
financial subsidy being received in the first quarter of
2007.
Income Tax Benefit (Expense)
Income tax expense for the first quarter of 2007 was
RMB8.1 million (US$1.0 million) compared to income tax
benefit of RMB1.0 million (US$0.1 million) in the fourth
quarter of 2006 and income tax benefit of RMB0.2 million
(US$0.02 million) in the first quarter of 2006. This was
primarily due to the increase of effective tax rate
following the expiration of income tax holiday of a
significant PRC subsidiary, partially offset by adjustments
of RMB7.2 million (US$0.9 million) to deferred tax valuation
allowances due to the anticipated utilization of tax loss
carry forward.
Gain (Loss) on Equity Investments
For the first quarter of 2007, loss on equity
investments, net of taxes, amounted to RMB1.5 million
(US$0.2 million), compared to a loss of RMB1.1 million
(US$0.1 million) for the fourth quarter of 2006, and a gain
of RMB1.1 million (US$0.1 million) for the first quarter of
2006. The sequential increase in loss on equity
investments was primarily because most of the existing
affiliated companies were still in the game development or
early game commercialization stages, thus contributed
losses in the first quarter of 2007; whereas in the fourth
quarter of 2006, the joint venture that operates Blizzard
Entertainment(R)'s World of Warcraft(R) in other greater
China regions, which we disposed of in late 2006, recorded
a gain during the fourth quarter of 2006, which offset, to
a large extent, the losses incurred by the other affiliated
companies.
Net Income
For the first quarter of 2007, net income was RMB66.1
million (US$8.6 million), which decreased by 37%
quarter-over-quarter from RMB105.1 million (US$13.6
million) in the fourth quarter of 2006 but increased by 12%
year-over-year compared to RMB58.8 million (US$7.6 million)
in the first quarter of 2006. The sequential decrease of
net income was a result of the cumulative effect of the
foregoing factors. Excluding a financial subsidy of
RMB19.8 million (US$2.6 million) received from the local
government, gain on investment disposal of RMB23.4 million
(US$3.0 million) from the sale of certain equity
investment, and impairment loss on one of our investments
of RMB20.4 million (US$2.6 million) in the fourth quarter
of 2006, net income for the first quarter of 2007 decreased
by 20% from the previous quarter.
Fully diluted earnings per share and per ADS for the
first quarter of 2007 was RMB2.65 (US$0.34), compared to
RMB4.25 (US$0.55) in the fourth quarter of 2006 and RMB2.42
(US$0.31) in the first quarter of 2006.
EBITDA (non-GAAP) is defined as earnings before
depreciation of fixed assets, amortization of intangibles
and income tax expenses/benefits, as applicable. For the
first quarter of 2007, EBITDA (non-GAAP) was RMB117.7
million (US$15.2 million) compared to EBITDA (non-GAAP) of
RMB146.6 million (US$19.0 million) for the previous quarter
and RMB99.6 million (US$12.9 million) for the same period of
last year.
For the first quarter of 2007, fully diluted EBITDA
(non-GAAP) per share was RMB4.72 (US$0.61) compared with
RMB5.93 (US$0.77) for the fourth quarter of 2006 and
RMB4.10 (US$0.53) in the first quarter of 2006.
As at March 31, 2007, the Company's total cash and cash
equivalents balance was RMB859.6 million (US$111.3 million).
The decrease in cash and cash equivalents from RMB937.8
million (US$121.4 million) as at December 31, 2006 was
mainly due to the combined result of capital expenditures
on a new server site and upgrades of existing server sites
in preparation for the launch of World of Warcraft: The
Burning Crusade(TM), payments relating to the purchase of
our headquarter office building in Shanghai, as well as
prepaid royalty payments to the licensor relating to World
of Warcraft(R)'s China operations, offset in part by
receipts from prepaid game points, and final receipts of
proceeds from the disposal of our investment in the joint
venture that operates World of Warcraft(R) in the other
regions of greater China.
The conversion of Renminbi (RMB) into U.S. dollars
(US$) in this press release is based on the noon buying
rate in The City of New York for cable transfers in
Renminbi per U.S. dollar as certified for customs purposes
by the Federal Reserve Bank of New York as of March 30,
2007 (the last business day of first quarter of 2007),
which was RMB7.7232 to US$1.00. The percentages stated in
this press release are calculated based on the RMB
amounts.
Non-GAAP Measure
To supplement the consolidated financial statements
presented in accordance with accounting principles
generally accepted in the United States ("GAAP"),
The9 uses the non-GAAP measure of EBITDA, which is adjusted
from the most directly comparable financial measures
calculated and presented in accordance with GAAP to exclude
certain expenses. The non-GAAP financial measure is
provided to enhance investors' overall understanding of the
Company's operating performance.
EBITDA (non-GAAP) is defined as earnings before
depreciation of fixed assets, amortization of intangibles
and income tax expenses/benefits, as applicable. The
Company believes its EBITDA provides useful information to
both management and investors as it excludes certain
expenses that are not expected to result in future cash
payments. The use of EBITDA has certain limitations.
Depreciation and amortization expense for various assets
and income tax expenses/benefits have been and will be
incurred and are not reflected in the presentation of
EBITDA. Each of these items should also be considered in
the overall evaluation of our results. EBITDA should not be
considered as a measure of our liquidity. We compensate for
these limitations by providing the relevant disclosure of
our depreciation and amortization, and income tax
expenses/benefits in our reconciliations to the GAAP
financial measure, which should be considered when
evaluating our performance. EBITDA is not defined under
GAAP, and our EBITDA is not a measure of net income,
operating income, operating performance or liquidity
presented in accordance with GAAP. When assessing our
operating performance, you should not consider this data in
isolation or as a substitute for our net income, operating
income or any other operating performance measure that is
calculated in accordance with GAAP. In addition, our
EBITDA may not be comparable to similarly titled measures
utilized by other companies since such other companies may
not calculate EBITDA in the same manner as we do. For more
information on this non-GAAP financial measure, please see
the tables captioned "Reconciliation of non-GAAP to
GAAP results" set forth at the end of this release.
Other Developments
The9 today also announced that Mr. Alan Chen, Vice
President and Chief Technology Officer, will be leaving the
Company on June 30, 2007 due to personal reasons. Mr.
Huanxin Jiang, currently our Senior Technical Director,
will be promoted Vice President, effective June 30, 2007.
Mr. Jiang joined The9 in February 2004 and after this
promotion he will be in charge of our technical
operations.
In addition, in recognition to their contribution to
the Company, Ms. Hannah Lee, currently our Vice President
& Chief Financial Officer, and Mr. Jun Yao, currently
our Vice President, will be promoted to Senior Vice
President & Chief Financial Officer, and Senior Vice
President, respectively, effective June 30, 2007.
Conference Call / Webcast Information
The9's management team will host a conference call on
Monday, May 21, 2007 at 9:00 PM, US Eastern Time,
corresponding with Tuesday, May 22, 2007 at 9:00 AM,
Beijing Time, to present an overview of The9's financial
performance and business operations.
Investors, analysts and other interested parties will
be able to access the live conference by calling
+1-617-597-5329, password "41286252". In the
U.S., members of the financial community may also
participate in the call by dialing toll-free
+1-866-383-7998, password "41286252". A replay
of the call will be available through May 29, 2007. The
dial-in details for the replay: U.S. toll free number
+1-888-286-8010, International dial-in number
+1-617-801-6888; Password "22906365".
The9 Limited will also provide a live webcast of the
earnings call. Participants in the webcast should log onto
the Company's web site www.corp.the9.com 15 minutes prior to
the call, then click on the icon for "The9 Limited Q1
2007 Earnings Conference Call" and follow the
instructions.
About The9 Limited
The9 Limited is a leading online game operator in
China. The9's business is primarily focused on operating
and developing high-quality games for the Chinese online
game players market. The9 directly or through affiliates
operates licensed MMORPGs, consisting of MU(R), Blizzard
Entertainment(R)'s World of Warcraft(R), Soul of The
Ultimate Nation(TM), and its first proprietary MMORPG,
Joyful Journey West(TM), in mainland China. It has also
obtained exclusive licenses to operate additional MMORPGs
and advanced casual games in China, including Granado
Espada, Guild Wars, Hellgate: London, Ragnarok Online 2,
Emil Chronicle Online, Huxley, FIFA Online, and Audition 2.
In addition, The9 is also working on the development of a
3D fantasy MMORPG game, Fantastic Melody Online(TM).
Safe Harbor Statement
This announcement contains forward-looking statements.
These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be
identified by terminology such as "will,"
"expects," "anticipates,"
"future," "intends," "plans,"
"believes," "estimates" and similar
statements. Among other things, the business outlook and
quotations from management in this press release contain
forward-looking statements. The9 may also make written or
oral forward-looking statements in its periodic reports to
the U.S. Securities and Exchange Commission on Forms 20-F
and 6-K, etc., in its annual report to shareholders, in
press releases and other written materials and in oral
statements made by its officers, directors or employees to
third parties. Statements that are not historical facts,
including statements about The9's beliefs and expectations,
are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ
materially from those contained in any forward-looking
statement. Potential risks and uncertainties include, but
are not limited to, The9's limited operating history as an
online game operator, political and economic policies of
the Chinese government, the laws and regulations governing
the online game industry, information disseminated over the
Internet and Internet content providers in China,
intensified government regulation of Internet cafes, The9's
ability to retain existing players and attract new players,
license, develop or acquire additional online games that
are appealing to users, anticipate and adapt to changing
consumer preferences and respond to competitive market
conditions, and other risks and uncertainties outlined in
The9's filings with the U.S. Securities and Exchange
Commission, including its annual reports on Form 20-F.
The9 does not undertake any obligation to update any
forward-looking statement, except as required under
applicable law.
(1) World of Warcraft(R) and Blizzard Entertainment(R)
are trademarks or registered trademarks of Blizzard
Entertainment(R), Inc. in the U.S. and/or other countries.
(2) Activated paid accounts represent the number of CD
Keys that we sold to customers and have been activated by
customers to log-on to Blizzard Entertainment(R)'s World of
Warcraft(R) game in China.
THE9 LIMITED
CONSOLIDATED STATEMENTS OF INCOME
(Expressed in Renminbi - RMB and US Dollars - US$,
except share data)
Quarter Ended
March 31, December 31, March
31, March 31,
2006 2006
2007 2007
RMB RMB RMB
US$
(unaudited) (unaudited)
(unaudited) (unaudited)
Revenues:
Online game
services 220,780,344 296,721,036
281,304,681 36,423,332
Game operating
support, website
solutions and
advertisement 755,100 495,169
2,623,071 339,635
Other revenues 1,929,118 598,872
769,488 99,633
223,464,562 297,815,077
284,697,240 36,862,600
Sales Taxes (11,317,419) (15,138,187)
(14,695,927) (1,902,829)
Net Revenues 212,147,143 282,676,890
270,001,313 34,959,771
Cost of Services (117,045,133) (147,970,185)
(139,741,064) (18,093,674)
Gross Profit 95,102,010 134,706,705
130,260,249 16,866,097
Operating
Expenses:
Product
development (8,906,763) (5,176,455)
(9,594,597) (1,242,308)
Sales and
marketing (11,026,504) (17,982,287)
(16,092,437) (2,083,649)
General and
administrative (18,337,604) (31,501,431)
(32,445,657) (4,201,064)
Total operating
expenses: (38,270,871) (54,660,173)
(58,132,691) (7,527,021)
Profit from
operations 56,831,139 80,046,532
72,127,558 9,339,076
Interest income,
net 1,208,529 3,023,648
4,408,329 570,790
Other income
(expenses), net (498,355) 19,123,592
(873,104) (113,050)
Income before
income tax
benefit (expense),
gain on investment
disposal and gain
(loss) on equity
investments 57,541,313 102,193,772
75,662,783 9,796,816
Income tax benefit
(expense) 188,891 1,015,569
(8,073,294) (1,045,330)
Income before gain
on investment
disposal,
impairment loss
on investment
and gain (loss)
on equity
investments 57,730,204 103,209,341
67,589,489 8,751,486
Gain on investment
disposal - 23,409,702
- -
Impairment loss on
investment - (20,401,915)
- -
Gain (loss) on
equity
investments, net
of taxes 1,077,589 (1,148,792)
(1,504,470) (194,799)
Net income 58,807,793 105,068,336
66,085,019 8,556,687
Other
comprehensive
income:
Translation
adjustments 37 -
- -
Comprehensive
Income 58,807,830 105,068,336
66,085,019 8,556,687
Earnings per share
- Basic 2.42 4.28
2.67 0.35
- Diluted 2.42 4.25
2.65 0.34
Weighted average
shares outstanding
- Basic 24,252,920 24,564,824
24,730,143 24,730,143
- Diluted 24,301,835 24,713,922
24,969,420 24,969,420
THE9 LIMITED
CONSOLIDATED BALANCE SHEETS
(Expressed in Renminbi - RMB and US Dollars - US$)
As at
December 31, 2006 March 31,
2007 March 31, 2007
RMB RMB
US$
(unaudited) (unaudited)
(unaudited)
Assets
Current Assets
Cash and cash equivalents 937,845,817 859,597,646
111,300,710
Accounts receivable 10,174,484 10,417,201
1,348,819
Advances to suppliers 9,036,620 5,949,176
770,299
Prepayments and other
current assets 69,153,131 39,486,507
5,112,713
Prepaid royalties 27,558,207 17,248,311
2,233,311
Deferred costs 33,324,942 34,940,184
4,524,055
Deferred tax assets, current - 7,559,570
978,813
Total current assets 1,087,093,201 975,198,595
126,268,720
Investments in equity
investees 30,117,605 28,613,136
3,704,829
Property, equipment and
software 227,512,006 225,860,116
29,244,370
Goodwill 30,199,751 30,199,751
3,910,264
Intangible assets 244,271,279 243,141,511
31,481,965
Prepayment for office
building and equipments - 244,628,873
31,674,549
Long-term deposit - 454,212
58,811
Deferred tax assets,
non-current 5,391,123 7,788,458
1,008,450
Total Assets 1,624,584,965 1,755,884,652
227,351,958
Liabilities and Shareholders' Equity
Current Liabilities
Accounts payable 12,692,978 29,478,199
3,816,837
Due to related parties 332,797 385,186
49,874
Income tax payable - 18,030,198
2,334,550
Other taxes payable 23,589,754 16,526,947
2,139,909
Advances from customers 88,040,975 110,928,121
14,362,974
Deferred revenue 111,302,531 119,310,200
15,448,286
Other payables and accruals 52,467,643 42,598,296
5,515,627
Total current liabilities 288,426,678 337,257,147
43,668,057
Minority interests - -
-
Commitments and contingencies - -
-
Shareholders' Equity
Common shares (US$0.01 par
value; 24,688,038 shares
issued and outstanding as of
December 31, 2006, 24,773,412
shares issued and outstanding
as of March 31, 2007) 2,041,673 2,048,292
265,213
Additional paid-in capital 941,786,807 958,164,387
124,063,133
Statutory reserves 20,745,422 20,745,422
2,686,117
Retained earnings 371,584,385 437,669,404
56,669,438
Total shareholders'
equity 1,336,158,287 1,418,627,505
183,683,901
Total liabilities and
shareholders' equity 1,624,584,965 1,755,884,652
227,351,958
THE9 LIMITED
RECONCILIATION OF NON-GAAP TO GAAP RESULTS
(Expressed in Renminbi - RMB and US Dollars - US$,
except share data)
Quarter
Ended
March 31, December 31, March
31, March 31,
2006 2006
2007 2007
RMB RMB
RMB US$
(unaudited) (unaudited)
(unaudited) (unaudited)
GAAP net income 58,807,793 105,068,336
66,085,019 8,556,687
Depreciation of
property, equipment
and software 18,030,884 21,666,970
23,124,444 2,994,153
Amortization of
intangible assets 22,942,091 20,885,566
20,465,268 2,649,843
Income tax expense
(benefit) (188,891) (1,015,569)
8,073,294 1,045,330
EBITDA (Non-GAAP) 99,591,877 146,605,303
117,748,025 15,246,013
GAAP earnings per share
- Basic 2.42 4.28
2.67 0.35
- Diluted 2.42 4.25
2.65 0.34
Non-GAAP EBITDA per share
- Basic 4.11 5.97
4.76 0.62
- Diluted 4.10 5.93
4.72 0.61
Weighted average shares
outstanding
- Basic 24,252,920 24,564,824
24,730,143 24,730,143
- Diluted 24,301,835 24,713,922
24,969,420 24,969,420
For further information, please contact:
Ms. Dahlia Wei
Senior Manager, Investor Relations
The9 Limited
Tel: +86-21-5172-9990
Email: IR@corp.the9.com
Website: http://www.corp.the9.com
PR
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