Shanghai, 15th June: Xinhua Finance Limited (XFL), a provider of financial information focused on the market in China, released its financial results for the quarter ending 31st March 2009. Revenues for the quarter were US$9.1 million, compared to US$63 million last year. The large decrease was primarily due to the sale of most of the company’s non-core businesses, which constituted a large part of XFL’s revenues. Revenues from continuing operations in the first quarter were US$7.8 million compared to US$6.7 million last year – a 17% increase. XFL recorded a net loss of US$12 million in the first quarter or a US$7.73 per share loss. 

The company also released its forecast for the full and half year. Management expects revenues to be US$16 million in the first six months of the fiscal year with a net loss of US$14 million. Revenues of US$34 million are expected in the full year with a net loss of US$20 million.    Source: Xinhua Finance announcement  –  BSG

BIIA Newsletter September 2009 Issue