PEKING (dpa-AFX) - Home Inns & Hotels Management Inc. (HMIN) reported that its third-quarter net income attributable to Home Inns Group's shareholders was RMB 33.7 million or or US$5.4 million, compared to RMB 164.3 million in the third quarter of 2011. Earnings per ADS was RMB 0.73 or US$0.12 for the third quarter of 2012.
Adjusted net income attributable to Home Inns Group's shareholders was RMB 135.8 million or US$21.6 million for the third quarter of 2012, compared to adjusted net income of RMB 132.0 million in the same period of 2011.
Adjusted earnings per ADS was RMB 2.93or US$0.47 for the third quarter of 2012.
Total Revenues for the third quarter of 2012 increased 61.8% year over year to RMB 1.60 billion or US$254.3 million, including revenues from Motel 168 of RMB 398.9 million or US$63.5 million.
Analysts polled by Thomson Reuters expected the company to report earnings of US$0.37 per share on revenues of US$232.18 million for the quarter. Analysts' estimates typically exclude special items.
Home Inns Group acquired Motel 168 and consolidated Motel 168's operating and financial results since October 1, 2011.
Home Inns Group reiterated its expected revenue for the full year 2012. Total revenues for Home Inns Group for the year are expected to be in the range of US$909.3 million to US$924.5 million.
Analysts expect the company to report revenues of US$863.99 million for fiscal 2012.
Total revenues for the Motel 168 brand for the full year are expected to be in the range of US$234.7 million to US$238.7 million.
Total revenues excluding Motel 168 brand for the full year of 2012 are expected to be in the range of US$674.6 million to US$685.8 million.
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