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E-House China sees losses expand to US$26 mln in Q1 2012

May. 25, 2012 (China Knowledge) - E-House (China) Holdings Ltd<EJ>, a leading real estate services company in China, has posted US$25.9 million-net loss attributable to shareholders for the first quarter of this year, compared with a net loss of half a million USD suffered in the same period of last year.

In the first quarter of 2012, the New York-listed firm's diluted loss per American Depositary Share was US$0.33, compared with US$0.01 in diluted loss per ADS for the corresponding period of 2011.

On a non-GAAP basis, the company suffered US$16.8 million in net loss attributable to shareholders in the three months ended Mar. 31, 2012, compared with a net loss of US$7.5 million for the same quarter of last year.

Total revenues  for the first quarter of 2012 decreased of 29% YoY from US$83.3 million to US$59.1 million, of which US$23.6 million was contributed by real estate brokerage services, reflecting a YoY decline of 47% from US$44.5 million.

As of Mar. 31, 2012, the company had US$331.9 million in cash.

E-House (China) also expects its revenue for the whole year 2012 to be in the range of US$490 million to US$510 million, representing an increase of 22% to 27% from US$401.6 million in 2011.

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