Feb. 8, 2012 (China Knowledge) - Changyou.com Ltd<CYOU>, an online game developer wholly owned by Sohu.com Inc<SOHU
>, earned US$64.3 million in net profit attributable to shareholders in the fourth quarter of 2011, reflecting a year-on-year increase of 20% or a sequential increase of 4%.
In the reporting period, the Nasdaq-listed firm's fully diluted earnings per American Depositary Share were US$1.21.
On a non-GAAP basis, the company's net profit attributable to shareholders grew 28% from a year earlier or 13% quarter on quarter to US$71.2 million with earnings per ADS of US$1.33.
Total revenues for the fourth quarter of 2011 reached a record US$137.7 million, up 39% year on year or 7% quarter on quarter.
For the whole of 2011, Changyou.com reaped US$245.5 million in net profit attributable to shareholders, while its non-GAAP net profit attributable to shareholders stood at US$256.9 million.
The company's total revenues for last year amounted to US$484.6 million, up 37% from the year 2010.
As of December 31, 2011, Changyou.com had US$330.4 million in cash, less than US$458.6 million it had as of September 30, 2011.
The Chinese online game developer also expects its non-GAAP net profit attributable to shareholders to be in the range of US$58 million and US$60 million in the first quarter of 2012, and the firm's total revenues for the period is expected to reach between US$130 million and US$134 million