SouFun Holdings Limited – SFUN – Delighted to report another solid quarter

NYSE: SFUN), the leading real estate and home furnishing Internet portal in China, announced its unaudited financial results for the second quarter ended June 30, 2012 and its dividend plan.

Second Quarter 2012 Highlights

• Revenues in the second quarter of 2012 were US$97.0 million, a 20.4% increase from the corresponding period in 2011.
• Operating income in the second quarter of 2012 was US$47.0 million, a 27.3% increase from the corresponding period in 2011. Non-GAAP operating income in the second quarter of 2012 was US$48.2 million, a 25.7% increase from the corresponding period in 2011.
• Net income attributable to shareholders recorded a year-over-year increase of 41.1% to US$32.3 million, or US$0.40 per fully diluted share. Non-GAAP net income attributable to shareholders recorded a year-over-year increase of 21.1% to US$38.8 million, or US$0.48 per fully diluted share.

First Half 2012 Highlights

• Revenues in the first half of 2012 were US$155.5 million, a 28.1% increase from the corresponding period in 2011.
• Operating income in the first half of 2012 was US$60.7 million, a 41.7% increase from the corresponding period in 2011. Non-GAAP operating income in the first half of 2012 was US$63.1 million, a 36.5% increase from the corresponding period in 2011.
• Net income attributable to shareholders recorded a year-over-year increase of 63.5% to US$46.9 million, or US$0.58 per fully diluted share. Non-GAAP net income attributable to shareholders recorded a year-over-year increase of 33.2% to US$52.9 million, or US$0.65 per fully diluted share.

“We are delighted to report another solid quarter, even under China’s volatile real estate market condition.” said Vincent Mo, Executive Chairman of SouFun. “Our solid fundamentals with strong brand, effective website platform, innovative products and services supported our continued growth. We believe that China’s real estate market is stabilizing and SouFun is well positioned to capture the immense opportunities in China’s real estate and home furnishing industries.”

Dividend

SouFun’s Board of Directors has approved a cash dividend of US$1.00 per share on the Company’s ordinary shares. Each of the SouFun’s American depositary shares (“ADS”) represents one ordinary share. SouFun plans to make the dividend payment in the third quarter of 2012.

About SouFun – SFUN

SouFun (SFUN) operates the leading real estate Internet portal and home furnishing and improvement website in China in terms of the number of page views and visitors to its website in 2012. SouFun has built a large and active community of users who are attracted by the comprehensive real estate and home furnishing and improvement content available on its portal that forms the foundation of its service offerings. SouFun currently maintains 105 offices to focus on local market needs and its website and database contains real estate-related content coverage of 314 cities in China.

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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.