Third Quarter 2015 Highlights[1]
-
Net revenues for the third quarter 2015 were
RMB182.7 million (US$28.7 million ), representing a year-over-year increase of 13.1%. - Operating income for the third quarter 2015 was
RMB9.8 million (US$1.5 million ), an increase of over 31 times when compared toRMB305,000 for the corresponding quarter of 2014 and a sequential increase of 8.1% fromRMB9.1 million for the previous quarter. Non-GAAP[2] operating income for the third quarter 2015 wasRMB18.1 million (US$2.8 million ), an increase of over 7 times when compared to non-GAAP operating income ofRMB2.2 million for the corresponding quarter of 2014 and a sequential increase of 6.0% fromRMB17.1 million for the previous quarter. - Net income for the third quarter 2015 was
RMB14.9 million (US$2.3 million ), a year-over-year increase of 413.6% fromRMB2.9 million for the corresponding quarter of 2014, and a sequential increase of 29.2% fromRMB11.5 million for the previous quarter. Non-GAAP net income for the third quarter of 2015 wasRMB23.2 million (US$3.6 million ), a year-over-year increase of 386.8% fromRMB4.8 million for the corresponding quarter of 2014, and a sequential increase of 18.7% fromRMB19.5 million for the previous quarter.
'Our focus on improving profitability continued to yield strong results with non-GAAP net income for the quarter surging 386.8% to
'Qiuai's user and revenue growth remained solid as it began contributing to profits during the quarter demonstrating the traction our mobile products continue to gain in an ever crowded market. Total activated installments of our app now exceed 47.2 million while logins through mobile devices accounted for 70.3% of total logins during the quarter. We continue to innovate and invest in new products that will help us to build a sustainable business over the long-term.'
Mr.
Third Quarter 2015 Operational Results
The number of average monthly active user accounts[3] for the third quarter 2015 was 5,308,039, compared to 6,168,616 in the corresponding period of 2014 and 5,469,361 for the previous quarter.
The number of average monthly paying user accounts[4] for the third quarter 2015 was 1,405,426, compared to 1,522,838 in the corresponding period of 2014 and 1,487,681 for the previous quarter.
Average monthly revenue per paying user ('ARPU') for online services for the third quarter 2015 was
Third Quarter 2015 Financial Results
Jiayuan reported net revenues of
- Online services contributed
RMB108.8 million (US$17.1 million ), or 59.5% of net revenues for the third quarter of 2015, representing a year-over-year increase of 2.1% fromRMB106.5 million , compared toRMB113.1 million for the previous quarter. The year-over-year increase was mainly attributable to the increase in ARPU as the Company shifts its focus to profitability. -
Personalized matchmaking services, contributed
RMB68.1 million (US$10.7 million ), or 37.3% of net revenues during the third quarter of 2015, representing a year-over-year increase of 37.7% fromRMB49.5 million and a quarter-over-quarter increase of 7.9% fromRMB63.1 million . The year-over-year and sequential increases were a result of the expanded number of service locations and cities in which the Company offers personalized matchmaking services, as well as sales growth of existing service locations. -
Events and others contributed
RMB5.8 million (US$914,000 ), or 3.2% of net revenues during the third quarter of 2015, an increase of 4.7% fromRMB5.5 million for the corresponding period of 2014 and an increase of 56.3% fromRMB3.8 million for the previous quarter. The year-over-year increase was mainly attributable to the increase in the advertisements placed on the Company's website. The sequential increase was primarily due to increased sponsorship of the Company's events and the growth of advertising revenue.
Cost of revenues for the third quarter of 2015 was
Gross profit for the third quarter of 2015 was
Selling and marketing expenses were
General and administrative expenses were
Research and development expenses were
Operating income for the third quarter of 2015 was
Foreign currency exchange net gain for the third quarter of 2015 was
Net income for the third quarter of 2015 was
Basic and diluted net income per ADS[5] for the third quarter of 2015 were
Excluding share-based compensation expenses and professional fees related to the review and evaluation by the Special Committee of certain non-binding proposals regarding a potential 'going private' transaction as previously announced by the Company, non-GAAP basic and diluted net income per ADS for the third quarter of 2015 were
As of
The weighted average number of ADSs outstanding used in calculating diluted net income per ADS and non-GAAP diluted net income per ADS in the third quarter of 2015 was 30.5 million. As of
Fourth Quarter 2015 Outlook
Jiayuan currently expects to generate net revenues in the range of
Conference Call Information
Jiayuan's management will host a conference call to discuss its results and outlook today,
Dial-in details for the earnings conference call are as follows:
Hong Kong: +852-3018-6776
China: 400-1200-654
International/All other regions: +65-6713-5440
Passcode: 83696161
A replay of the conference call may be accessed by phone at the following number until
International: +61-2-9003-4211
Passcode: 83696161
A live and archived webcast of the conference call will be available at http://ir.jiayuan.com.
NOTES: |
[1] This announcement contains translations of certain Renminbi ('RMB') amounts into U.S. dollar ('US$') amounts at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from RMB amounts into US$ amounts as of and for the quarter ended |
[2] Explanation of Jiayuan's non-GAAP financial measures and related reconciliations to GAAP financial measures are included in the accompanying 'Non-GAAP Financial Measures'' and 'Reconciliations to Unaudited Condensed Consolidated Statements of Operations'. |
[3] Active user accounts are registered user accounts through which registered users have logged in to the Jiayuan platforms at least once within a calendar month, in the case of user accounts registered in prior months, or on at least two separate days within a calendar month, including the day of completion of the registration process, in the case of user accounts newly registered in the calendar month. In the third quarter of 2015, average monthly active user accounts include active user accounts with |
[4] In the third quarter of 2015, average monthly paying user accounts include paying user accounts with |
[5] Basic and diluted net income per ADS are calculated based on net income attributable to ordinary shareholders and the corresponding basic and diluted number of ADSs, assuming that, during each period presented, every two ADSs represent three ordinary shares of Jiayuan. |
About Jiayuan
For more information, please visit http://ir.jiayuan.com.
Forward-Looking Statements
This press release 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,' 'confident' and similar statements. Jiayuan may also make written or verbal forward-looking statements in its periodic reports to the
Non-GAAP Financial Measures
We disclose non-GAAP financial measures of operating income, net income and net income per ADS, each of which is adjusted to exclude share-based compensation expense and professional fees related to the review and evaluation by the Special Committee of certain non-binding proposals regarding a potential 'going private' transaction as previously announced by the Company. We review non-GAAP financial measures to obtain an additional understanding of our operating performance. We also believe it is useful supplemental information for investors and analysts to assess our operating performance without the effect of non-cash share-based compensation expense, which have been and will continue to be significant recurring expenses in our business and fees related to privatization which are not relevant to our operational activities. For a reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see 'Reconciliation to Unaudited Condensed Consolidated Statement of Comprehensive Income' included in this press release.
However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that it does not include all items that impact our GAAP financial measures during the period. In addition, because non-GAAP financial measures are not calculated in the same manner by all companies, it may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures in isolation from or as an alternative to GAAP financial measures. Management compensates for this limitation by providing specific information regarding the GAAP amount excluded from the non-GAAP measure.
For investor and media inquiries, please contact: |
Sonora Ma +86 (10) 6442-2321 Email: ir@jiayuan.com |
Mr. Christensen Investor Relations Group +86-10-5900-1548 Email: carnell@christensenir.com |
US |
Ms. Christensen Investor Relations Group +1-480-614-3004 |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) | ||||||||
2014 | 2015 | 2015 | 2015 | |||||
RMB | RMB | RMB | US$ | |||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | 242,680 | 311,725 | 170,873 | 26,885 | ||||
Short-term deposits | 312,000 | 160,000 | 310,000 | 48,776 | ||||
Available-for-sale securities | 15,538 | 16,082 | 29,221 | 4,598 | ||||
Accounts receivable, net | 34,958 | 37,708 | 39,731 | 6,251 | ||||
Deferred tax assets | 8,457 | 12,255 | 11,227 | 1,766 | ||||
Prepaid expenses and other current assets | 63,371 | 69,130 | 105,626 | 16,619 | ||||
Total current assets | 677,004 | 606,900 | 666,678 | 104,895 | ||||
Non-current assets: | ||||||||
Property and equipment, net | 93,703 | 88,797 | 86,753 | 13,650 | ||||
Intangible assets, net | 3,776 | 3,277 | 3,111 | 489 | ||||
789 | 789 | 789 | 124 | |||||
Long-term investment | - | 11,048 | 11,048 | 1,738 | ||||
Other non-current assets | 1,047 | 1,439 | 1,145 | 180 | ||||
Total assets | 776,319 | 712,250 | 769,524 | 121,076 | ||||
LIABILITIES | ||||||||
Current liabilities: | ||||||||
Deferred revenue, current portion | 194,792 | 201,122 | 197,339 | 31,050 | ||||
Accounts payable | 18,118 | 21,587 | 17,749 | 2,793 | ||||
Accrued expenses and other current liabilities | 44,282 | 59,556 | 97,967 | 15,414 | ||||
Income tax payable | 19,363 | 16,805 | 17,972 | 2,828 | ||||
Dividend payable | 125,680 | - | - | - | ||||
Total current liabilities | 402,235 | 299,070 | 331,027 | 52,085 | ||||
Non-current liabilities: | ||||||||
Deferred revenue, non-current portion | 3 | 4 | 6 | 1 | ||||
Accrued expenses and other current | 6,290 | 6,182 | 7,262 | 1,143 | ||||
Deferred tax liabilities | 5,017 | 7,294 | 8,755 | 1,378 | ||||
Total liabilities | 413,545 | 312,550 | 347,050 | 54,607 | ||||
SHAREHOLDERS' EQUITY | ||||||||
Ordinary shares | 352 | 356 | 356 | 56 | ||||
Additional paid-in capital | 349,049 | 371,716 | 376,860 | 59,296 | ||||
Less: | (113,138) | (119,183) | (119,183) | (18,752) | ||||
Statutory reserves | 9,974 | 10,103 | 10,103 | 1,590 | ||||
Retained earnings | 127,242 | 147,719 | 162,614 | 25,586 | ||||
Accumulated other comprehensive loss | (10,705) | (11,011) | (8,276) | (1,307) | ||||
Total shareholders' equity | 362,774 | 399,700 | 422,474 | 66,469 | ||||
Total liabilities and shareholders' equity | 776,319 | 712,250 | 769,524 | 121,076 | ||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) | ||||||||
Three months ended, | ||||||||
RMB | RMB | RMB | US$ | |||||
Net revenues | 161,575 | 179,953 | 182,713 | 28,748 | ||||
Cost of revenues | (74,508) | (96,200) | (97,463) | (15,336) | ||||
Gross profit | 87,067 | 83,753 | 85,250 | 13,412 | ||||
Operating expenses: | ||||||||
Selling and marketing expenses | (64,923) | (48,599) | (47,094) | (7,410) | ||||
General and administrative expenses | (15,925) | (19,553) | (21,598) | (3,398) | ||||
Research and development expenses | (5,914) | (6,529) | (6,753) | (1,063) | ||||
Total operating expenses | (86,762) | (74,681) | (75,445) | (11,871) | ||||
Operating income | 305 | 9,072 | 9,805 | 1,541 | ||||
Interest income, net | 4,783 | 3,999 | 4,385 | 690 | ||||
Foreign currency exchange (loss)/gain, net | (172) | 33 | 388 | 61 | ||||
Other income/(expenses), net | (103) | (531) | 4,055 | 638 | ||||
Income before income tax | 4,813 | 12,573 | 18,633 | 2,930 | ||||
Income tax expenses | (1,913) | (1,045) | (3,738) | (588) | ||||
Net income | 2,900 | 11,528 | 14,895 | 2,342 | ||||
Net income per ADS - Basic | 0.10 | 0.39 | 0.50 | 0.08 | ||||
Net income per ADS - Diluted | 0.10 | 0.38 | 0.49 | 0.08 | ||||
ADSs used in computing basic net | 29,443,179 | 29,415,931 | 29,584,434 | 29,584,434 | ||||
ADSs used in computing diluted net | 29,881,508 | 30,344,189 | 30,533,982 | 30,533,982 | ||||
RECONCILIATIONS TO UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN RMB THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) | |||||||||||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | |||||||||||||||||||
GAAP | Non-GAAP | Non-GAAP | GAAP | Non-GAAP | Non-GAAP | GAAP | Non-GAAP | Non-GAAP | |||||||||||||
Operating income | 305 | 1,861 | 2,166 | 9,072 | 7,996 | 17,068 | 9,805 | 8,280 | 18,085 | ||||||||||||
Net income | 2,900 | 1,861 | 4,761 | 11,528 | 7,996 | 19,524 | 14,895 | 8,280 | 23,175 | ||||||||||||
Basic net income per ADS | 0.10 | 0.16 | 0.39 | 0.66 | 0.50 | 0.78 | |||||||||||||||
Diluted net income per ADS | 0.10 | 0.16 | 0.38 | 0.64 | 0.49 | 0.76 | |||||||||||||||
ADSs used in computing basic net income per | 29,443,179 | 29,443,179 | 29,415,931 | 29,415,931 | 29,584,434 | 29,584,434 | |||||||||||||||
ADSs used in computing diluted net income per | 29,881,508 | 29,881,508 | 30,344,189 | 30,344,189 | 30,533,982 | 30,533,982 | |||||||||||||||
Note: (a) To adjust for share-based compensation expense. (b) To adjust for share-based compensation expense of (c) To adjust for share-based compensation expense of |
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/jiayuan-announces-third-quarter-2015-financial-results-300184422.html
SOURCE
distributed by |