Ctrip posts unaudited Q3 earnings 

Ctrip posts unaudited Q3 earnings

Nov 06, 2012 (Menafn - AIRLINE INDUSTRY INFORMATION via COMTEX) --China-based travel service provider Ctrip.com International, Ltd. CTRP said it has posted its unaudited financial results for the quarter ended September 30, 2012.

The company posted net revenues of RMB1.17b (USD 187m) for the third quarter of 2012, up 20% year-on-year, versus our guidance of 15-20% year-on-year.

Ctrip.com said its gross margin was 76% for the third quarter of 2012, compared to 77% in the same period in 2011. Income from operations was RMB190m (USD 30m) for the third quarter of 2012, down 38% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB299m (USD 48m), down 24% year-on-year.

The company said that its perating margin was 16% for the third quarter of 2012, compared to 31% in the same period in 2011. Excluding share-based compensation charges (non-GAAP), operating margin was 25%, compared to 41% in the same period in 2011.

Net income attributable to Ctrip's shareholders was RMB194 m (USD 31 m) for the third quarter of 2012, down 40% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB302m (USD 48m), down 27% year-on-year.

Diluted earnings per ADS were RMB1.41 (USD 0.22) for the third quarter of 2012. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.20 (USD 0.35) for the third quarter of 2012.

Share-based compensation charges were RMB108m (USD 17m), accounting for 9% of the net revenues, or RMB0.79 (USD 0.13) per ADS for the third quarter of 2012.

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