Net loss of $4.1 million narrowed year-on-year in the third quarter of the World Century Interconnect

www.techweb.com.cn/finance/2018-11-21...

Tencent Technology News According to foreign media reports, 21Vianet (NASDAQ: VNET) released its unaudited financial report for the third quarter ended September 30, 2018. According to the financial report, Century Internet's net revenue for the quarter was RMB 870.1 million (US$126.7 million), a year-on-year increase of 14.6%; the net loss was RMB 27.9 million (US$4.1 million), and the loss was net compared to the same period last year. The loss of RMB 1.791 billion was narrowed.

Key results for the third quarter:

-- Net revenue was RMB 870.1 million (approximately US$126.7 million), an increase of 14.6% from RMB 759.3 million in the same period last year and an increase of 5.0% from RMB 828.3 million in the previous quarter.

-- Gross profit was RMB 241.2 million (approximately USD 35.1 million), an increase of 11.1% from RMB 217.1 million in the same period last year and an increase of 5.1% from RMB 229.4 million in the previous quarter; gross profit margin was 27.7%, lower than 28.6% in the same period last year was the same as the previous quarter.

-excluding US general accounting standards, gross profit was 391.9 million yuan (US $57.1 million), up 24.2 percent from 315.6 million yuan in the same period last year and 7.7 percent higher than 364 million yuan in the previous quarter. Excluding general accounting standards, gross margins were 45.0 percent, up from 41.6 percent in the same period last year and 43.9 percent in the previous quarter.

-- Operating expenses were RMB 176.6 million (US$25.7 million), up 1.1% from RMB 174.6 million in the same period last year, down 0.8% from RMB 177.9 million in the previous quarter; operating expenses accounted for net revenue. The ratio was 20.3%, down from 23.0% in the same period last year and down from 21.5% in the previous quarter.

-the adjusted EBITDA (net profit before interest, tax, depreciation and amortisation) was 245.2 million yuan ($35.7 million), up 39.5 percent from 175.8 million yuan in the same period last year. Up 10.9 percent from 221.1 million yuan in the previous quarter. The adjusted EBITDA rate was 28.2 percent, up from 23.1 percent in the same period last year and 26.7 percent in the previous quarter.

-net loss was 27.9 million yuan ($4.1 million), compared with 1.4791 billion yuan in the same period last year and 95.5 million yuan in the previous quarter. The net loss included a 55 million yuan exchange loss in the third quarter, compared with 5.6 million yuan in the same period last year, compared with 73.4 million yuan in the previous quarter.

-A basic and diluted loss per share was 0.04 yuan ($0.01) and a loss of 0.24 yuan ($0.06) per share on US depositary receipts.

-- As of September 30, 2018, Century Connect's cash, cash pricing, restricted cash and short-term investments totaled RMB 2.96 billion (US$ 431.4 million).

Performance outlook:

Century Internet expects that the company's fourth quarter net revenue will be between 870 million yuan and 890 million yuan; adjusted EBITDA is 245 million yuan to 265 million yuan. Throughout 2018, the company's net revenue will be RMB 3.37 billion to RMB 3.39 billion, an increase of 13.6% year-on-year according to the intermediate value; the adjusted EBITDA will be RMB 905 million to RMB 925 million, representing a year-on-year increase of 36.4. %. (Compile / Ming Xuan)

Century Interconnect third quarter net loss 410 US $ loss range year-on-year narrowe

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