China Finance Online, a provider of online financial data in China, announced that its revenues were US$11.1 million in the quarter ended 31st March. That is a 117% increase over the first quarter of 2007. Of that total, US$9.6 million revenues were generated by subscription fees paid by individuals.
GAAP net income was US$3.5 million in the quarter – an increase of 3.5 times over the same period in 2007. Non-GAAP net income was US$5.9 million, compared to US$1.2 million recorded in the first quarter last year. China Finance Online is forecasting revenues in the second quarter to be between US$13.0 million and US$13.5 million. Full year revenues are forecast to range from US$56 million to US$61 million. Source: China Finance Online release