SHANGHAI, May 16, 2011 /PRNewswire-Asia/ -- Ctrip.com
International, Ltd. (Nasdaq: CTRP), a leading travel service
provider for hotel accommodations, airline tickets, packaged tours
and corporate travel management in China, today announced its unaudited financial
results for the quarter ended March 31,
2011.
Highlights for the First Quarter
of 2011
- Net revenues were RMB765 million
(US$117 million) for the first
quarter of 2011, up 30% year-on-year. In the first quarter of 2011,
Wing On Travel and ezTravel contributed 7% for the year-on-year
growth for net revenues.
- Gross margin was 78% for the first quarter of 2011, remained
consistent with that in the same period in 2010.
- Income from operations was RMB263
million (US$40 million) for
the first quarter of 2011, up 34% year-on-year. Excluding
share-based compensation charges (non-GAAP), income from operations
was RMB333 million (US$51 million), up 28% year-on-year.
- Operating margin was 34% for the first quarter of 2011,
compared to 33% in the same period in 2010. Excluding share-based
compensation charges (non-GAAP), operating margin was 44%, remained
consistent with that in the same period in 2010.
- Net income attributable to Ctrip's shareholders was
RMB235 million (US$36 million) in the first quarter of 2011, up
23% year-on-year. Excluding share-based compensation charges
(non-GAAP), net income attributable to Ctrip's shareholders was
RMB305 million (US$47 million), up 20% year-on-year.
- Diluted earnings per ADS were RMB1.54 (US$0.24)
for the first quarter of 2011. Excluding share-based compensation
charges (non-GAAP), diluted earnings per ADS were RMB2.01 (US$0.31)
for the first quarter of 2011.
- Share-based compensation charges were RMB70 million (US$11
million), accounting for 9% of the net revenues, or
RMB0.46 (US$0.07) per ADS for the first quarter of
2011.
"Following a successful 2010, the Ctrip team has once again
achieved strong results in the first quarter of 2011," said
Min Fan, Ctrip President and Chief
Executive Officer. "Our team has worked diligently to extend our
leadership and further gain market share through excellent customer
service, strong strategic partnerships, the adoption of advanced
technologies, and innovative value-added products. All of our hard
work has empowered our team to make the most of the opportunities
ahead of us."
First Quarter 2011 Financial
Results
For the first quarter of 2011, Ctrip reported total revenues of
RMB814 million (US$124 million), representing a 30% increase from
the same period in 2010. Total revenues for the first quarter of
2011 decreased by 3% from the previous quarter.
Hotel reservation revenues amounted to RMB310 million (US$47
million) for the first quarter of 2011, representing a 23%
increase year-on-year, primarily driven by an increase of 20% in
hotel reservation volume and an increase of 3% commission per room
night year-on-year. Hotel reservation revenues decreased by 14%
quarter-on-quarter due to seasonality.
Air ticket booking revenues for the first quarter of 2011 were
RMB326 million (US$50 million), representing a 23% increase
year-on-year, primarily driven by a 20% increase in air ticketing
sales volume and a 3% increase in commission per ticket
year-on-year. Air ticket booking revenues increased 2%
quarter-on-quarter.
Packaged-tour revenues for the first quarter of 2011 were
RMB125 million (US$19 million), representing a 74% increase
year-on-year due to the increase of leisure travel volume. Wing On
Travel and ezTravel contributed 54% for the year-on-year growth for
packaged-tour revenues. Packaged-tour revenues increased 24%
quarter-on-quarter, primarily due to the increased travel demand in
the first quarter of 2011.
Corporate travel revenues for the first quarter of 2011 were
RMB31 million (US$5 million), representing a 20% increase
year-on-year, primarily driven by the increased corporate travel
demand from business activities. Corporate travel revenues
decreased 12% quarter-on-quarter due to the decreased business
activities during Chinese New
Year.
For the first quarter of 2011, net revenues were RMB765 million (US$117
million), representing a 30% increase from the same period
in 2010. Net revenues for the first quarter of 2011 decreased by 3%
from the previous quarter due to seasonality. In the first quarter,
Wing On Travel and ezTravel contributed 7% for the year-on-year
growth for net revenues.
Gross margin was 78% in the first quarter of 2011, remained
consistent with that in the same period in 2010 and in the previous
quarter.
Product development expenses for the first quarter of 2011
increased by 29% to RMB130 million
(US$20 million) from the same period
in 2010 and increased by 8% from the previous quarter, primarily
due to an increase in product development personnel and share-based
compensation charges. Excluding share-based compensation charges
(non-GAAP), product development expenses accounted for 14% of the
net revenues, remained consistent with that in the same period in
2010 and increased from 13% in the previous quarter.
Sales and marketing expenses for the first quarter of 2011
increased by 32% to RMB125 million
(US$19 million) from the same period
in 2010, primarily due to the increase in sales and marketing
related activities. Sales and marketing expenses for the first
quarter of 2011 decreased by 2% from the previous quarter.
Excluding share-based compensation charges (non-GAAP), sales and
marketing expenses accounted for 15% of the net revenues, remained
consistent with that in the same period in 2010 and in the previous
quarter.
General and administrative expenses for the first quarter of
2011 increased by 23% to RMB82
million (US$13 million) from
the same period in 2010, primarily due to an increase in
administrative personnel. General and administrative expenses for
the first quarter of 2011 increased by 6% from the previous quarter
due to the increase in share-based compensation charges. Excluding
share-based compensation charges (non-GAAP), general and
administrative expenses accounted for 5% of the net revenues,
remained consistent with that in the same period in 2010 and in the
previous quarter.
Income from operations for the first quarter of 2011 was
RMB263 million (US$40 million), representing an increase of 34%
from the same period in 2010 and a decrease of 10% from the
previous quarter. Excluding share-based compensation charges
(non-GAAP), income from operations was RMB333 million (US$51
million), representing an increase of 28% from the same
period in 2010 and a decrease of 5% from the previous quarter.
Operating margin was 34% in the first quarter of 2011, compared
to 33% in the same period in 2010, and 37% in the previous quarter.
Excluding share-based compensation charges (non-GAAP), operating
margin was 44%, remained consistent with that in the same period in
2010 and decreased from 45% in the previous quarter.
The effective tax rate for the first quarter of 2011 was 21%,
increased from 12% in the same periods of 2010, primarily due to
certain tax benefit granted by the local tax bureau in the first
quarter of 2010. The effective tax rate for the first quarter of
2011 increased from 19% in the previous quarter, primarily due to
the increase in the amount of non tax-deductible share-based
compensation as a percentage to our income as a whole.
Net income attributable to Ctrip's shareholders for the first
quarter of 2011 was RMB235 million
(US$36 million), representing a 23%
increase from the same period in 2010 and a 22% decrease from the
previous quarter. Excluding share-based compensation charges
(non-GAAP), net income attributable to Ctrip's shareholders was
RMB305 million (US$47 million), representing an increase of 20%
from the same period in 2010 and a decrease of 16% from the
previous quarter.
Diluted earnings per ADS were RMB1.54 (US$0.24)
for the first quarter of 2011. Excluding share-based compensation
charges (non-GAAP), diluted earnings per ADS were RMB2.01 (US$0.31)
for the first quarter of 2011.
As of March 31, 2011, the balance
of cash, restricted cash and short-term investment was RMB3.6 billion (US$546
million).
Business Outlook
For the second quarter of 2011, the Company expects to continue
the net revenue growth year-on-year at a rate of approximately
15%-20%. This forecast reflects Ctrip's current and preliminary
view, which is subject to change.
Conference Call
Ctrip's management team will host a conference call at
9:00PM U.S. Eastern Time on
May 16, 2011 (or 9:00AM on May 17,
2011 in the Shanghai/HK
time zone) following the announcement.
The conference call will be available on Webcast live and replay
at: http://ir.ctrip.com. The call will be archived for one month at
this website.
The dial-in details for the live conference call: U.S. Toll Free
Number +1.888.680.0892, International dial-in number
+1.617.213.4858, Passcode 34995341. For pre-registration, please
click
https://www.theconferencingservice.com/prereg/key.process?key=PKECHJPL8
.
A telephone replay of the call will be available after the
conclusion of the conference call through May 24, 2011. The dial-in details for the replay:
U.S. Toll Free Number +1.888.286.8010, International dial-in number
+1.617.801.6888, Passcode 12127058.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expect," "anticipate," "future," "intend," "plan,"
"believe," "estimate," "is/are likely to," "confident" or other
similar statements. Among other things, quotations from management
and the Business Outlook section in this press release, as well as
Ctrip's strategic and operational plans, contain forward-looking
statements. Ctrip may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission on Forms 20-F and 6-K, etc., in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about Ctrip's beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of important factors
could cause actual results to differ materially from those
contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, the slow-down of
economic growth in China and the
global economic downturn, general declines or disruptions in the
travel industry, volatility in the trading price of Ctrip's ADSs,
Ctrip's reliance on its relationships and contractual arrangements
with travel suppliers and strategic alliances, failure to further
increase Ctrip's brand recognition to obtain new business partners
and consumers, failure to compete against new and existing
competitors, failure to successfully manage current growth and
potential future growth, risks associated with any strategic
investments or acquisitions, seasonality in the travel industry in
mainland China, Hong Kong, Macau or Taiwan, failure to successfully develop
Ctrip's corporate travel business, damage to or failure of Ctrip's
infrastructure and technology, loss of services of Ctrip's key
executives, inflation in China and
in other countries, risks and uncertainties associated with PRC
laws and regulations with respect to the ownership structure of
Ctrip's affiliated Chinese entities and the contractual
arrangements among Ctrip, its affiliated Chinese entities and their
shareholders, and other risks outlined in Ctrip's filings with the
U.S. Securities and Exchange Commission, including its annual
report on Form 20-F and other filings. All information provided in
this press release and in the attachments is as of the date of the
issuance, and Ctrip does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About Non-GAAP Financial Measures
To supplement Ctrip's unaudited consolidated financial
statements presented in accordance with United States Generally
Accepted Accounting Principles ("GAAP"), Ctrip uses non-GAAP
financial information related to product development expenses,
sales and marketing expenses, general and administrative expenses,
income from operations, operating margin, net income, and diluted
earnings per ordinary share and per ADS, each of which is adjusted
from the most comparable GAAP result to exclude the share-based
compensation charges recorded under ASC 718, "Stock Compensation"
for 2011 and 2010. Ctrip's management believes the non-GAAP
financial measures facilitate better understanding of operating
results from quarter to quarter and provide management with a
better capability to plan and forecast future periods.
Non-GAAP information is not prepared in accordance with GAAP and
may be different from non-GAAP methods of accounting and reporting
used by other companies. The presentation of this additional
information should not be considered a substitute for GAAP results.
A limitation of using non-GAAP financial measures is that non-GAAP
measures exclude share-based compensation charges that have been
and will continue to be significant recurring expenses in our
business for the foreseeable future.
Reconciliations of Ctrip's non-GAAP financial data to the most
comparable GAAP data included in the consolidated statement of
operations are included at the end of this press release.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service
provider of hotel accommodations, airline tickets, packaged tours,
and corporate travel management in China. Ctrip aggregates hotel and flight
information to enable business and leisure travelers to make
informed and cost-effective bookings. Ctrip also books vacation
packages and guided tours. In addition, Ctrip corporate travel
management services help corporate clients effectively manage their
travel requirements. Since its inception in 1999, Ctrip has
experienced substantial growth and become one of the best-known
travel brands in China.
For further
information, please
contact:
|
|
|
|
Investor
Relations
|
|
Ctrip.com International,
Ltd.
|
|
Tel: (+86) 21 3406 4880 X
12258
|
|
Email: iremail@ctrip.com
|
|
|
Ctrip.com
International, Ltd.
|
|
Consolidated
Balance Sheet Information
|
|
|
|
|
|
December 31, 2010
|
|
March 31, 2011
|
|
March 31, 2011
|
|
|
|
RMB
|
|
RMB
|
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
Cash
|
|
2,153,935,111
|
|
2,049,804,216
|
|
313,028,453
|
|
Restricted cash
|
|
224,179,126
|
|
228,053,355
|
|
34,826,345
|
|
Short-term investment
|
|
1,178,278,063
|
|
1,295,137,083
|
|
197,782,185
|
|
Accounts receivable,
net
|
|
621,548,849
|
|
690,045,097
|
|
105,377,746
|
|
Prepayments and other current
assets
|
|
355,831,117
|
|
356,304,464
|
|
54,411,750
|
|
Deferred tax assets,
current
|
|
37,136,184
|
|
35,725,362
|
|
5,455,670
|
|
|
|
|
|
|
|
|
|
Total current
assets
|
|
4,570,908,450
|
|
4,655,069,577
|
|
710,882,149
|
|
|
|
|
|
|
|
|
|
Long-term deposits
|
|
155,856,622
|
|
158,026,650
|
|
24,132,469
|
|
Land use rights
|
|
106,333,805
|
|
105,686,752
|
|
16,139,571
|
|
Property, equipment and
software
|
|
653,678,980
|
|
638,836,798
|
|
97,557,656
|
|
Investment
|
|
1,574,230,623
|
|
1,411,152,361
|
|
215,499,040
|
|
Goodwill
|
|
758,231,441
|
|
758,231,441
|
|
115,790,578
|
|
Intangible assets
|
|
296,964,092
|
|
294,960,785
|
|
45,043,872
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
8,116,204,013
|
|
8,021,964,364
|
|
1,225,045,335
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
Accounts payable
|
|
595,283,281
|
|
622,248,619
|
|
95,024,452
|
|
Salary and welfare
payable
|
|
159,258,508
|
|
118,734,975
|
|
18,132,183
|
|
Taxes payable
|
|
161,772,241
|
|
150,941,724
|
|
23,050,521
|
|
Advances from
customers
|
|
595,737,152
|
|
455,574,918
|
|
69,571,479
|
|
Accrued liability for customer
reward program
|
|
121,319,301
|
|
130,073,077
|
|
19,863,640
|
|
Other payables and
accruals
|
|
247,528,032
|
|
155,251,257
|
|
23,708,636
|
|
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
1,880,898,515
|
|
1,632,824,570
|
|
249,350,911
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities,
non-current
|
|
45,382,710
|
|
45,227,392
|
|
6,906,738
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
1,926,281,225
|
|
1,678,051,962
|
|
256,257,649
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
Share capital
|
|
2,926,132
|
|
2,930,063
|
|
447,454
|
|
Additional paid-in
capital
|
|
3,073,551,037
|
|
3,158,230,054
|
|
482,297,704
|
|
Statutory reserves
|
|
93,384,908
|
|
93,384,908
|
|
14,260,939
|
|
Accumulated other comprehensive
income
|
|
198,972,084
|
|
31,651,310
|
|
4,833,516
|
|
Retained Earnings
|
|
2,734,858,610
|
|
2,969,766,943
|
|
453,517,240
|
|
|
|
|
|
|
|
|
|
Total Ctrip's
shareholders' equity
|
|
6,103,692,771
|
|
6,255,963,278
|
|
955,356,853
|
|
|
|
|
|
|
|
|
|
Noncontrolling
interests
|
|
86,230,017
|
|
87,949,124
|
|
13,430,833
|
|
|
|
|
|
|
|
|
|
Total
shareholders' equity
|
|
6,189,922,788
|
|
6,343,912,402
|
|
968,787,686
|
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
8,116,204,013
|
|
8,021,964,364
|
|
1,225,045,335
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ctrip.com
International, Ltd.
|
|
Consolidated
Statement of Operations Information
|
|
|
|
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
Quarter Ended
|
|
|
|
March
31, 2010
|
|
December 31, 2010
|
|
March 31, 2011
|
|
March 31, 2011
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
USD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
Hotel reservation
|
|
251,912,292
|
|
360,325,329
|
|
310,393,954
|
|
47,400,692
|
|
Air-ticketing
|
|
264,723,073
|
|
319,728,612
|
|
326,474,923
|
|
49,856,440
|
|
Packaged tour
|
|
71,781,013
|
|
100,625,182
|
|
124,834,012
|
|
19,063,576
|
|
Corporate travel
|
|
26,274,358
|
|
35,786,154
|
|
31,444,896
|
|
4,801,994
|
|
Others
|
|
12,514,361
|
|
18,672,214
|
|
20,959,425
|
|
3,200,743
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
627,205,097
|
|
835,137,491
|
|
814,107,210
|
|
124,323,445
|
|
|
|
|
|
|
|
|
|
|
|
Less: business tax and related
surcharges
|
|
(40,483,224)
|
|
(48,010,960)
|
|
(49,584,200)
|
|
(7,572,072)
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues
|
|
586,721,873
|
|
787,126,531
|
|
764,523,010
|
|
116,751,373
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
|
(128,377,508)
|
|
(169,529,242)
|
|
(164,706,899)
|
|
(25,152,620)
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
458,344,365
|
|
617,597,289
|
|
599,816,111
|
|
91,598,753
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Product development *
|
|
(100,721,820)
|
|
(120,637,434)
|
|
(130,286,710)
|
|
(19,896,265)
|
|
Sales and marketing *
|
|
(94,439,324)
|
|
(126,969,302)
|
|
(124,641,801)
|
|
(19,034,223)
|
|
General and administrative
*
|
|
(66,741,488)
|
|
(77,706,831)
|
|
(82,145,928)
|
|
(12,544,619)
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(261,902,632)
|
|
(325,313,567)
|
|
(337,074,439)
|
|
(51,475,107)
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
|
196,441,733
|
|
292,283,722
|
|
262,741,672
|
|
40,123,646
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
5,337,051
|
|
13,526,761
|
|
19,013,573
|
|
2,903,589
|
|
Other income
|
|
581,797
|
|
38,217,360
|
|
12,924,512
|
|
1,973,720
|
|
|
|
|
|
|
|
|
|
|
|
Income before income tax expense
and equity in income
|
|
202,360,581
|
|
344,027,843
|
|
294,679,757
|
|
45,000,955
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
(24,314,306)
|
|
(66,126,123)
|
|
(62,849,199)
|
|
(9,597,789)
|
|
Equity in income of
affiliates
|
|
11,236,298
|
|
24,521,408
|
|
4,796,882
|
|
732,539
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
189,282,573
|
|
302,423,128
|
|
236,627,440
|
|
36,135,705
|
|
|
|
|
|
|
|
|
|
|
|
Less: Net (income) / loss
attributable to noncontrolling interests
|
|
1,162,858
|
|
(149,393)
|
|
(1,719,107)
|
|
(262,527)
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to
Ctrip's shareholders
|
|
190,445,431
|
|
302,273,735
|
|
234,908,333
|
|
35,873,178
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ordinary
share
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
5.53
|
|
8.43
|
|
6.55
|
|
1.00
|
|
- Diluted
|
|
5.21
|
|
7.91
|
|
6.17
|
|
0.94
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ADS
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
1.38
|
|
2.11
|
|
1.64
|
|
0.25
|
|
- Diluted
|
|
1.30
|
|
1.98
|
|
1.54
|
|
0.24
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares
outstanding
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
34,467,334
|
|
35,874,508
|
|
35,891,105
|
|
35,891,105
|
|
- Diluted
|
|
36,561,172
|
|
38,222,581
|
|
38,060,214
|
|
38,060,214
|
|
|
|
|
|
|
|
|
|
|
|
* Share-based compensation
charges included are as follows:
|
|
|
|
|
|
|
|
|
|
Product
development
|
|
15,993,081
|
|
16,695,524
|
|
19,924,207
|
|
3,042,653
|
|
Sales and
marketing
|
|
8,843,140
|
|
8,158,262
|
|
10,220,801
|
|
1,560,833
|
|
General and
administrative
|
|
39,386,817
|
|
35,015,075
|
|
40,223,323
|
|
6,142,560
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ctrip.com
International, Ltd.
|
|
Reconciliation of GAAP and
Non-GAAP Results
|
|
(In RMB,
except % and per share information)
|
|
|
|
|
Quarter Ended March 31, 2011
|
|
|
GAAP Result
|
% of Net
Revenue
|
|
Share-based
Compensation
|
% of Net
Revenue
|
|
Non-GAAP Result
|
% of Net
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(130,286,710)
|
17%
|
|
19,924,207
|
3%
|
|
(110,362,503)
|
14%
|
|
Sales and
marketing
|
(124,641,801)
|
16%
|
|
10,220,801
|
1%
|
|
(114,421,000)
|
15%
|
|
General and
administrative
|
(82,145,928)
|
11%
|
|
40,223,323
|
5%
|
|
(41,922,605)
|
5%
|
|
Total operating
expenses
|
(337,074,439)
|
44%
|
|
70,368,331
|
9%
|
|
(266,706,108)
|
35%
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
262,741,672
|
34%
|
|
70,368,331
|
9%
|
|
333,110,003
|
44%
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to
Ctrip's shareholders
|
234,908,333
|
31%
|
|
70,368,331
|
9%
|
|
305,276,664
|
40%
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
6.17
|
|
|
1.85
|
|
|
8.02
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ADS
(RMB)
|
1.54
|
|
|
0.46
|
|
|
2.01
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ADS
(USD)
|
0.24
|
|
|
0.07
|
|
|
0.31
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended December 31, 2010
|
|
|
GAAP Result
|
% of Net
Revenue
|
|
Share-based
Compensation
|
% of Net
Revenue
|
|
Non-GAAP Result
|
% of Net
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Product
development
|
(120,637,434)
|
15%
|
|
16,695,524
|
2%
|
|
(103,941,910)
|
13%
|
|
Sales and
marketing
|
(126,969,302)
|
16%
|
|
8,158,262
|
1%
|
|
(118,811,040)
|
15%
|
|
General and
administrative
|
(77,706,831)
|
10%
|
|
35,015,075
|
4%
|
|
(42,691,756)
|
5%
|
|
Total operating
expenses
|
(325,313,567)
|
41%
|
|
59,868,861
|
8%
|
|
(265,444,706)
|
34%
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
292,283,722
|
37%
|
|
59,868,861
|
8%
|
|
352,152,583
|
45%
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to
Ctrip's shareholders
|
302,273,735
|
38%
|
|
59,868,861
|
8%
|
|
362,142,596
|
46%
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
7.91
|
|
|
1.57
|
|
|
9.47
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ADS
(RMB)
|
1.98
|
|
|
0.39
|
|
|
2.37
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ADS
(USD)
|
0.30
|
|
|
0.06
|
|
|
0.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended March 31, 2010
|
|
|
GAAP Result
|
% of Net
Revenue
|
|
Share-based
Compensation
|
% of Net
Revenue
|
|
Non-GAAP Result
|
% of Net
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Product development
|
(100,721,820)
|
17%
|
|
15,993,081
|
3%
|
|
(84,728,739)
|
14%
|
|
Sales and marketing
|
(94,439,324)
|
16%
|
|
8,843,140
|
2%
|
|
(85,596,184)
|
15%
|
|
General and administrative
|
(66,741,488)
|
11%
|
|
39,386,817
|
7%
|
|
(27,354,671)
|
5%
|
|
Total operating expenses
|
(261,902,632)
|
45%
|
|
64,223,038
|
11%
|
|
(197,679,594)
|
34%
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
196,441,733
|
33%
|
|
64,223,038
|
11%
|
|
260,664,771
|
44%
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Ctrip's shareholders
|
190,445,431
|
32%
|
|
64,223,038
|
11%
|
|
254,668,469
|
43%
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ordinary share (RMB)
|
5.21
|
|
|
1.76
|
|
|
6.97
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ADS (RMB)
|
1.30
|
|
|
0.44
|
|
|
1.74
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ADS (USD)
|
0.19
|
|
|
0.06
|
|
|
0.26
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes for
all the financial schedules presented:
Note 1: The conversion of
Renminbi (RMB) into U.S. dollars (USD) is based on the certified
exchange rate of USD1.00=RMB6.5483 on March 31, 2011
published by the Federal Reserve
Board.
Note 2: Effective on
January 21, 2010, Company changed ratio of the American Depositary
Shares (“ADSs”) to ordinary shares from two (2) ADSs
representing one (1) ordinary
share to four (4) ADSs representing one (1) ordinary share.
The change is reflected retroactively in the numbers for
all
the periods presented
above.
|
|
|
SOURCE Ctrip.com International, Ltd.