E-Commerce China Dangdang Turns To Profit In Q2 - Quick Facts

(RTTNews) - E-Commerce China Dangdang Inc. (DANG) reported that its net income for the second quarter ended June 30, 2014 was RMB28.8 million or $4.6 million, compared to a net loss of RMB63.9 million in the corresponding period in 2013, primarily due to the increase in gross profit and operating leverage. Earnings per ADS was RMB0.35 or $0.06, as compared to a loss per ADS of RMB0.80 in the previous year.

Net income, excluding share-based compensation expenses, was RMB31.7 million or $5.1 million, versus a net loss excluding share-based compensation expenses of RMB61.3 million in the year ago quarter. Non-GAAP earnings per ADS was RMB0.38 or $0.06, compared to a non-GAAP loss per ADS of RMB0.76 in the prior year quarter.

Quarterly total net revenues were RMB1.961 billion or $316.1 million, a 31.3% increase from last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share and revenues of $314.28 million for the quarter. Analysts' estimates typically exclude special items.

Dangdang expects total net revenues in the third quarter of 2014 to be approximately RMB 1.984 billion, representing year-over-year growth of around 30.0%. The Company also expects GMV from its marketplace to grow at a rate of 80.0% year-over-year to approximately RMB1,745.4 million in the third quarter of 2014.