PEKING (dpa-AFX) - Ctrip.com International Ltd. (CTRP) reported that its first-quarter net income attributable to shareholders was RMB169.05 million or US$26.84 million, representing a decrease of 28% from RMB 234.91 million in the year ago quarter. Earnings per ADS for the quarter were RMB1.11 or US$0.18, down from RMB 1.54 last year.
Excluding share-based compensation charges, net income attributable to Ctrip's shareholders was RMB270 million or US$43 million, representing a decrease of 12% from the same period in 2011. Non-GAAP earnings per ADS were RMB1.77 or US$0.28 for the first quarter of 2012.
Total revenues were RMB 963.60 million or US$153.01million, representing an 18% increase from RMB 814.11 million the same period in 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of US$0.19 per share on revenues of US$143.76 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter of 2012, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. Analysts expect the company to report revenues of US$157.09 million for the second-quarter.
Ctrip announced the promotion of Jane Jie Sun, Ctrip's Chief Financial Officer from December 2005 to May 2012, to be the Chief Operating Officer of the Company.
Ctrip also announced the promotion of enny Wenjie Wu, Ctrip's Deputy CFO since December 2011, to be the Chief Financial Officer of the Company. Prior to joining Ctrip, Wu was an equity research analyst covering China Internet and Media industries in Morgan Stanley Asia Limited and in Citi Investment Research & Analysis from 2005 to 2011.
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