iSoftStone – ISS – Solid business growth in the second quarter 2012
NYSE: ISS), a leading China-based IT services provider, today reported its unaudited financial and operating results for the second quarter ended June 30, 2012.
ISS – Second quarter 2012 financial and operating results
- Net revenues increased 37.4% to $92.0 million in the second quarter 2012 from $67.0 million in the second quarter 2011.
- Gross profit increased 22.2% to $30.2 million in the second quarter 2012 from $24.7 million in the second quarter 2011.
- Net income in the second quarter 2012 decreased 38.5% to $3.6 million from $5.9 million in the second quarter 2011.
- Non-GAAP net income (note 1) increased 4.5% to $8.2 million in the second quarter 2012 from $7.9 million in the second quarter 2011.
- Diluted earnings per American Depositary Share (“ADS”) were $0.06 in the second quarter 2012 compared with $0.10 in the second quarter 2011. Each ADS represents 10 ordinary shares.
- Non-GAAP diluted earnings per ADS (note 1) were $0.14 in the second quarter 2012 and $0.13 in the second quarter 2011.
- Total number of employees increased 34.1% to 13,348 as of June 30, 2012 from 9,956 as of June 30, 2011.
ISS – First half 2012 financial and operating results
- Net revenues increased 44.0% to $178.4 million in the first half 2012 from $123.9 million in the first half 2011.
- Gross profit increased 28.1% to $58.0 million in the first half 2012 from $45.2 million in the first half 2011.
- Net income in the first half 2012 decreased 37.0% to $7.0 million from $11.0 million in the first half 2011.
- Non-GAAP net income (note 1) increased 10.9% to $15.5 million in the first half 2012 from $14.0 million in the first half 2011.
- Diluted earnings per ADS were $0.12 in the first half 2012 and $0.18 in the first half 2011. Each ADS represents 10 ordinary shares.
- Non-GAAP diluted earnings per ADS (note 1) were $0.26 in the first half 2012 and $0.23 in the first half 2011.
Mr. T.W. Liu, iSoftStone’s Chairman and Chief Executive Officer, said, “iSoftStone achieved solid business growth in the second quarter 2012. The vast majority of our growth was organic.
“We continued to execute our business strategies well during the quarter, including optimizing our business mix, balancing our geographic markets, focusing on our key verticals, and improving our operational efficiency.
About iSoftStone Holdings Limited – ISS
Founded in 2001, iSoftStone (ISS) is a leading China-based IT services provider serving both greater China and global clients. iSoftStone provides an integrated suite of IT services and solutions including consulting & solutions, IT services, and business process outsourcing services. The company focuses on industry verticals that include technology, communications, banking, financial services, insurance, energy, transportation, and public sectors.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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