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China Finance Online swings to loss in Q4

Apr. 17, 2012 (China Knowledge) - China Finance Online Co<JRJC>, a provider of vertically integrated financial services, including news, data, analytics and brokerage, has posted US$15.4 million-net loss attributable to shareholders for the fourth quarter of 2011, compared with US$89,000 it earned in net profit in the same period of 2010.

On a non-GAAP basis, the Nasdaq-listed firm's net profit attributable to shareholders was US$80,000 for the fourth quarter 2011, much less than a non-GAAP net profit of US$700,000 for the same quarter of 2010.

Net revenue for the fourth quarter 2011 totaled US$10.8 million, compared with US$14.8 million for the corresponding period of 2010.

As of Dec. 31, 2011, the company had US$94.5 million in cash.

For the whole of 2011, China Finance Online's net loss attributable to shareholders was US$19.3 million, compared with net profit of US$2 million in 2010.

The financial service provider reaped US$53 million in net revenue last year, whereas it earned US$59.7 million in 2010.

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