51job, Inc. Reports Fourth Quarter and Fiscal Year 2012 Financial Results

  51job, Inc. Reports Fourth Quarter and Fiscal Year 2012 Financial Results

PR Newswire

SHANGHAI, Feb. 20, 2013

SHANGHAI, Feb. 20, 2013 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS), a leading
provider of integrated human resource services in China, announced today its
unaudited financial results for the fourth quarter of 2012 and for the fiscal
year ended December 31, 2012.

Fourth Quarter 2012 Financial Highlights:

  oTotal revenues increased 7.4% over Q4 2011 to RMB397.3 million (US$63.8
    million), exceeding the Company's guidance
  oOnline recruitment services revenues increased 9.6% over Q4 2011 to
    RMB237.9 million (US$38.2 million)
  oGross margin was 70.6% compared with 71.2% in Q4 2011
  oIncome from operations increased 6.5% over Q4 2011 to RMB119.4 million
    (US$19.2 million)
  oFully diluted earnings per common share were RMB2.06 (US$0.66 per ADS)
  oExcluding share-based compensation expense, loss from foreign currency
    translation and gain from sale of long-term investments as well as their
    related tax impact, non-GAAP adjusted fully diluted earnings per common
    share were RMB2.30 (US$0.74 per ADS), exceeding the Company's guidance

Fiscal Year 2012 Financial Highlights:

  oTotal revenues increased 10.4% from 2011 to RMB1,512.2 million (US$242.7
    million)
  oGross margin increased to 72.0% compared with 71.5% in 2011
  oOperating income increased 10.1% over 2011 to RMB485.5 million (US$77.9
    million)
  oFully diluted earnings per common share were RMB7.92 (US$2.54 per ADS)
  oExcluding share-based compensation expense, loss from foreign currency
    translation and gain from sale of long-term investments as well as their
    related tax impact, non-GAAP adjusted fully diluted earnings per common
    share were RMB8.75 (US$2.81 per ADS)
  oCash and short-term investments increased to RMB2,531.4 million (US$406.3
    million) as of December 31, 2012

Commenting on the results, Rick Yan, President and Chief Executive Officer of
51job, Inc., said, "Against the backdrop of an uncertain economic climate in
China, weaker hiring demand and the accelerated wind down of our print
operations, we are pleased to have achieved revenue growth and improved
profitability in 2012. With a sharp focus on executing our product
development and sales strategies, we made meaningful progress in our online
business, expanding our customer base and enhancing the user experience of job
seekers. We also benefited from the increasing contribution from our other HR
services, which maintained a healthy growth trajectory despite volatile market
conditions. Our initiatives for 2013 are centered on further strengthening
our position as the leading platform connecting employers and individuals in
China, and we look forward to capturing exciting opportunities over the coming
year."

Fourth Quarter 2012 Unaudited Financial Results

Total revenues for the fourth quarter ended December 31, 2012 were RMB397.3
million (US$63.8 million), an increase of 7.4% from RMB369.8 million for the
same quarter in 2011.

Online recruitment services revenues for the fourth quarter of 2012 were
RMB237.9 million (US$38.2 million), representing a 9.6% increase from RMB216.9
million for the same quarter of the prior year. The growth was principally
due to an increase in the number of unique employers using the Company's
online recruitment services, which was partially offset by a decrease in
average revenue per unique employer. Unique employers increased 18.3% to
183,446 in the fourth quarter of 2012 compared with 155,050 in the same
quarter of the prior year driven by successful customer acquisition efforts
and the growing usage of online recruitment services by employers. However,
average revenue per unique employer decreased 7.3% in the fourth quarter of
2012 as compared to the same quarter in 2011 due to reduced spending by
employers amid a slower economic environment in China in 2012.

Print advertising revenues for the fourth quarter of 2012 decreased 53.5% to
RMB12.7 million (US$2.0 million) compared with RMB27.3 million for the same
quarter in 2011 primarily due to the ongoing shift in demand away from print
advertising services. The estimated number of print advertising pages
generated in the fourth quarter of 2012 declined 55.6% to 377 from 850 pages
in the same quarter in 2011. In addition, due to the Company's decision to
discontinue certain newspaper editions, the number of cities where 51job
Weekly is published  decreased to 7 as of December 31, 2012 from 14 cities as
of December 31, 2011.

Other human resource related revenues for the fourth quarter of 2012 increased
16.8% to RMB146.8 million (US$23.6 million) from RMB125.6 million in the same
quarter of 2011 primarily due to greater market demand for business process
outsourcing services.

Gross profit for the fourth quarter of 2012 increased 7.2% to RMB268.7 million
(US$43.1 million) from RMB250.8 million for the same quarter of the prior
year. Gross margin, which is gross profit as a percentage of net revenues,
was 70.6% in the fourth quarter of 2012 compared with 71.2% in the same
quarter in 2011.

Operating expenses for the fourth quarter of 2012 increased 7.7% to RMB149.4
million (US$24.0 million) from RMB138.7 million for the same quarter of 2011.
Operating expenses as a percentage of net revenues was 39.2% for the fourth
quarter of 2012 compared with 39.4% for the fourth quarter of 2011. Sales and
marketing expenses for the fourth quarter of 2012 decreased 0.7% to RMB97.2
million (US$15.6 million) from RMB97.9 million for the same quarter of the
prior year primarily due to lower advertising and promotion expenses, which
was mostly offset by higher employee compensation expenses. General and
administrative expenses for the fourth quarter of 2012 increased 28.0% to
RMB52.2 million (US$8.4 million) from RMB40.8 million in the fourth quarter of
2011 primarily due to higher employee compensation, rental and office expenses
as well as bad debt provision.

Income from operations for the fourth quarter of 2012 increased 6.5% to
RMB119.4 million (US$19.2 million) from RMB112.1 million for the same quarter
of the prior year. Operating margin, which is income from operations as a
percentage of net revenues, was 31.4% in the fourth quarter of 2012 compared
with 31.8% in the same quarter of 2011. Excluding share-based compensation
expense, operating margin would be 35.0% in the fourth quarter of 2012
compared with 34.9% in the same quarter of 2011. Other income in the fourth
quarter of 2012 included financial subsidies of RMB12.1 million (US$1.9
million) and a gain of RMB1.3 million (US$0.2 million) from the sale of the
coupon advertising services business owned by Area Link Co., Ltd., an entity
in which we made investments in 2007 and 2008.

Net income for the fourth quarter of 2012 increased 7.2% to RMB122.1 million
(US$19.6 million) from RMB113.9 million for the same quarter in 2011. Fully
diluted earnings per common share for the fourth quarter of 2012 were RMB2.06
(US$0.33) compared with RMB1.93 for the same quarter in 2011. Fully diluted
earnings per ADS for the fourth quarter of 2012 were RMB4.11 (US$0.66)
compared with RMB3.87 in the fourth quarter of 2011.

In the fourth quarter of 2012, the Company recognized total share-based
compensation expense of RMB13.8 million (US$2.2 million) compared with RMB11.0
million in the fourth quarter of 2011. The Company also recognized a loss
from foreign currency translation of RMB1.8 million (US$0.3 million) in the
fourth quarter of 2012 compared with RMB0.9 million in the fourth quarter of
2011.

Excluding share-based compensation expense, loss from foreign currency
translation and gain from sale of long-term investments as well as their
related tax impact, non-GAAP adjusted net income for the fourth quarter of
2012 increased 8.4% to RMB136.3 million (US$21.9 million) compared with
RMB125.8 million for the fourth quarter of 2011. Non-GAAP adjusted fully
diluted earnings per common share were RMB2.30 (US$0.37) in the fourth quarter
of 2012 compared with RMB2.14 in the fourth quarter of 2011. Non-GAAP
adjusted fully diluted earnings per ADS in the fourth quarter of 2012 were
RMB4.59 (US$0.74) compared with RMB4.27 in the fourth quarter of 2011.

Fiscal Year 2012 Unaudited Financial Results

Total revenues for 2012 were RMB1,512.2 million (US$242.7 million), an
increase of 10.4% from RMB1,370.1 million in 2011.

Unique employers using the Company's online recruitment services grew 11.5% to
272,322 in 2012 from 244,243 in 2011. Employers who purchase online services
multiple times or in multiple quarters throughout the fiscal year are counted
as one unique employer for the annual total. The estimated number of print
advertising pages generated in 2012 decreased 54.1% to 2,742 compared with
5,980 estimated pages in 2011.

Income from operations for 2012 increased 10.1% to RMB485.5 million (US$77.9
million) from RMB441.2 million in 2011. Net income for 2012 increased 21.6%
to RMB470.1 million (US$75.5 million) from RMB386.5 million in 2011. Fully
diluted earnings per common share for 2012 increased to RMB7.92 (US$1.27) from
RMB6.54 in 2011. Fully diluted earnings per ADS for 2012 were RMB15.84
(US$2.54) compared with RMB13.09 in 2011.

Excluding share-based compensation expense, loss from foreign currency
translation, loss from impairment and gain from sale of long-term investments
as well as their related tax impact, non-GAAP adjusted net income for 2012
increased 15.8% to RMB519.8 million (US$83.4 million) from RMB448.9 million in
2011. Non-GAAP adjusted fully diluted earnings per common share were RMB8.75
(US$1.41) for 2012 compared with RMB7.60 in 2011. Non-GAAP adjusted fully
diluted earnings per ADS for 2012 were RMB17.51 (US$2.81) compared with
RMB15.20 in 2011.

As of December 31, 2012, the Company had cash and short-term investments
totaling RMB2,531.4 million (US$406.3 million) compared with RMB2,054.0
million as of December 31, 2011. Short-term investments consist of
certificates of deposit with original maturities from three months to one
year.

Business Outlook

For the first quarter of 2013, the Company's business outlook will be impacted
by the late arrival of the Chinese New Year holiday relative to 2012, which
will materially affect seasonality and year-over-year comparisons. Based on
current market conditions and an expected significant year-over-year decrease
in print advertising revenues as the Company transitions away from this
business, the Company's revenue target for the first quarter of 2013 is in the
estimated range of RMB380 million to RMB400 million (US$61.0 million to
US$64.2 million). Excluding share-based compensation expense and any loss or
gain from foreign currency translation as well as their related tax impact,
the Company's non-GAAP fully diluted earnings target for the first quarter of
2013 is in the estimated range of RMB1.95 to RMB2.20 per common share (US$0.63
to US$0.71 per ADS). The Company expects total share-based compensation
expense in the first quarter of 2013 to be approximately RMB13 million to
RMB14 million (US$2.1 million to US$2.2 million).

Other Company News

In November and December 2012, the Company discontinued the publication of
51job Weekly in Shanghai and Ningbo, respectively, but continues to maintain
its facilities and all other operations in these cities.

In November 2012, the Company paid RMB3.1 million (US$0.5 million) to complete
the acquisition of 5,400 square meters of office space in Guangzhou. The
total purchase price was RMB95.8 million (US$15.4 million).

Currency Convenience Translation

For the convenience of readers, certain Renminbi amounts have been translated
into U.S. dollars at the rate of RMB6.2301 to US$1.00, the noon buying rate on
December 31, 2012 in New York for cable transfers of Renminbi as set forth in
the H.10 weekly statistical release of the Federal Reserve Board.

Conference Call Information

Management will hold a conference call at 8:00 p.m. Eastern Time on February
20, 2013 (9:00 a.m. Shanghai / Hong Kong time zone on February 21, 2013) to
discuss its fourth quarter and fiscal year 2012 financial results, operating
performance and business outlook. To dial in to the call, please use
conference ID 4594776 and the following telephone numbers:

US:            +1-877-941-6009
Hong Kong:     +852-3009-5027
International: +1-480-629-9819

The call will also be available live and on replay through 51job's investor
relations website, ir.51job.com. Please go to the website at least fifteen
minutes early to register or install any necessary audio software.

Use of Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance
with United States Generally Accepted Accounting Principles (GAAP), 51job uses
non-GAAP measures of income before income tax expense, income tax expense,
adjusted net income, adjusted earnings per share and adjusted earnings per
ADS, which are adjusted from results based on GAAP to exclude share-based
compensation expense, loss from foreign currency translation, loss from
impairment and gain from sale of long-term investments as well as their
related tax impact. The Company believes excluding share-based compensation
expense and its related tax impact from its non-GAAP financial measures is
useful for its management and investors to assess and analyze the Company's
core operating results as such expense is not directly attributable to the
underlying performance of the Company's business operations and do not impact
its cash earnings. The Company believes excluding loss from foreign currency
translation and its related tax impact from its non-GAAP financial measures is
useful for its management and investors as such translation loss is not
indicative of the Company's core business operations and will not result in
cash settlement nor impact the Company's cash earnings. The Company believes
excluding the loss from impairment and gain from sale of long-term investments
and its related tax impact from its non-GAAP financial measures is useful for
its management and investors as such loss from impairment and gain from sale
is unrelated to the Company's core business operations. 51job also believes
these non-GAAP measures excluding share-based compensation expense, loss from
foreign currency translation, loss from impairment and gain from sale of
long-term investments, as well as their related tax impact, are important in
helping investors to understand the Company's current financial performance
and future prospects and to compare business trends among different reporting
periods on a consistent basis. The presentation of these additional measures
should not be considered a substitute for or superior to GAAP results or as
being comparable to results reported or forecasted by other companies. The
non-GAAP measures have been reconciled to GAAP measures in the attached
financial statements.

About 51job

51job, Inc. (Nasdaq: JOBS) is a leading provider of integrated human resource
services in China with a strong focus on recruitment related services.
Through online recruitment services at www.51job.com and print advertisements
in 51job Weekly, 51job enables enterprises to attract, identify and recruit
employees and connects millions of job seekers with employment opportunities.
51job also provides a number of other value-added human resource services,
including business process outsourcing, training, executive search and
compensation and benefits analysis.51job has a call center in Wuhan and a
nationwide sales office network spanning 25 cities across China.

Safe Harbor Statement

Statements in this release regarding targets for the first quarter of 2013,
future business and operating results constitute "forward-looking" statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the Private Securities Litigation Reform Act of
1995. These statements are based upon management's current expectations, and
actual results could differ materially. Among the factors that could cause
actual results to differ are the number of recruitment advertisements placed,
sales orders received and customer contracts executed during the remaining
weeks of the first quarter of 2013; any accounting adjustments that may occur
during the quarterly close; fluctuations in the value of the Renminbi against
the U.S. dollar and other currencies; behavioral and operational changes of
customers in meeting their human resource needs as they respond to evolving
social, economic and political changes in China as well as stock market
volatilities; introduction by its competitors of new or enhanced products or
services; price competition in the market for the various human resource
services that the Company provides in China; acceptance of new products and
services developed or introduced by the Company outside of the human resources
industry and fluctuations in general economic conditions. For additional
information on these and other factors that may affect the Company's financial
results, please refer to the Company's filings with the Securities and
Exchange Commission. 51job undertakes no obligation to update these targets
prior to announcing final results for the first quarter of 2013 or as a result
of new information, future events or otherwise.

Contact:

Rebecca Liu
Investor Relations
51job, Inc.
+(86-21) 6879-6250
ir@51job.com

51job, Inc.
Consolidated Statements of Operations and Comprehensive Income
                                                         For the Three Months Ended
                                                         December31,  December31,  December31,
                                                         2011          2012          2012
                                                         (unaudited)   (unaudited)   (unaudited)
(Inthousands,exceptshare,pershareandperADSdata)
                                                         RMB           RMB           USD (Note 1)
Revenues:
 Onlinerecruitmentservices              216,937       237,861       38,179
 Print advertising                        27,275        12,677        2,035
 Other human resource related revenues    125,621       146,774       23,559
Total revenues                                           369,833       397,312       63,773
Less: Business and related tax                           (17,422)      (16,656)      (2,674)
Net revenues                                             352,411       380,656       61,099
Cost of services (Note 2)                                (101,644)     (111,908)     (17,962)
Gross profit                                             250,767       268,748       43,137
Operating expenses:
 Sales and marketing (Note 3)             (97,925)      (97,195)      (15,601)
 General and administrative (Note 4)      (40,781)      (52,195)      (8,378)
Total operating expenses                                 (138,706)     (149,390)     (23,979)
Income from operations                                   112,061       119,358       19,158
Loss from foreign currency translation                   (921)         (1,760)       (282)
Interest and investment income                           11,911        16,186        2,598
Other income                                             5,367         13,443        2,157
Income before income tax expense                         128,418       147,227       23,631
Income tax expense                                       (14,488)      (25,104)      (4,029)
Net income                                               113,930       122,123       19,602
Other comprehensive income:
 Currency translation adjustments         35            23            4
Comprehensive income                                     113,965       122,146       19,606
Earnings per share:
 Basic                                    2.00          2.12          0.34
 Diluted                                  1.93          2.06          0.33
Earnings per ADS (Note 5):
 Basic                                    4.00          4.23          0.68
 Diluted                                  3.87          4.11          0.66
Weighted average number of common shares outstanding:
 Basic                                    56,942,481    57,721,227    57,721,227
 Diluted                                  58,902,070    59,359,096    59,359,096
Notes:
1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate
of US$1.00 to RMB6.2301 on
 December 31, 2012 in New York for cable transfers of Renminbi as set forth in the H.10
weekly statistical release of the Federal
Reserve Board.
2. Includes share-based compensation expense of RMB1,754 and RMB2,145 (US$344) for the three
months ended December 31,
 2011 and 2012, respectively.
3. Includes share-based compensation expense of RMB1,508 and RMB1,844 (US$296) for the three
months ended December 31,
 2011 and 2012, respectively.
4. Includes share-based compensation expense of RMB7,689 and RMB9,774 (US$1,569) for the three
months ended December 31,
 2011 and 2012, respectively.
5. Each ADS represents two common shares.



51job, Inc.
Consolidated Statements of Operations and Comprehensive Income
                                                         For the Year Ended
                                                         December31,  December31,  December31,
                                                         2011                        2012
                                                                       2012
                                                         (unaudited)   (unaudited)   (unaudited)
(Inthousands,exceptshare,pershareandperADSdata)
                                                         RMB           RMB           USD (Note 1)
Revenues:
 Online recruitment services              803,004       943,432       151,431
 Print advertising                        208,365       105,309       16,903
 Other human resource related revenues    358,730       463,508       74,399
Total revenues                                           1,370,099     1,512,249     242,733
Less: Business and related tax                           (70,421)      (64,911)      (10,419)
Net revenues                                             1,299,678     1,447,338     232,314
Cost of services (Note 2)                                (370,661)     (405,233)     (65,044)
Gross profit                                             929,017       1,042,105     167,270
Operating expenses:
 Sales and marketing (Note 3)             (329,466)     (370,100)     (59,405)
 General and administrative (Note 4)      (158,355)     (186,460)     (29,929)
Total operating expenses                                 (487,821)     (556,560)     (89,334)
Income from operations                                   441,196       485,545       77,936
Loss from foreign currency translation                   (9,363)       (447)         (72)
Loss from impairment of long-term investments            (15,081)      -             -
Interest and investment income                           42,033        61,653        9,896
Other income                                             8,779         18,934        3,038
Income before income tax expense                         467,564       565,685       90,798
Income tax expense                                       (81,056)      (95,579)      (15,341)
Net income                                               386,508       470,106       75,457
Other comprehensive income:
 Currency translation adjustments         325           (9)           (1)
Comprehensive income                                     386,833       470,097       75,456
Earnings per share:
 Basic                                    6.81          8.17          1.31
 Diluted                                  6.54          7.92          1.27
Earnings per ADS (Note 5):
 Basic                                    13.62         16.35         2.62
 Diluted                                  13.09         15.84         2.54
Weighted average number of common shares outstanding:
 Basic                                    56,754,240    57,510,591    57,510,591
 Diluted                                  59,067,424    59,375,123    59,375,123
Notes:
1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate
of US$1.00 to RMB6.2301 on
 December 31, 2012 in New York for cable transfers of Renminbi as set forth in the H.10 weekly
statistical release of the Federal
 Reserve Board.
2. Includes share-based compensation expense of RMB6,084 and RMB7,870 (US$1,263) for 2011 and
2012, respectively.
3. Includes share-based compensation expense of RMB5,230 and RMB6,766 (US$1,086) for 2011 and
2012, respectively.
4. Includes share-based compensation expense of RMB26,660 and RMB35,902 (US$5,763) for 2011 and
2012, respectively.
5. Each ADS represents two common shares.



51job, Inc.
Reconciliation of GAAP and Non-GAAP Results
                                                     For the Three Months Ended
                                                     December 31,  December 31,  December 31,
                                                     2011          2012          2012
                                                     (unaudited)   (unaudited)   (unaudited)
(In
thousands,exceptshare,pershareandperADSdata)
                                                     RMB           RMB           USD (Note 1)
GAAP income before income tax expense                128,418       147,227       23,631
Add back: Share-based compensation expense           10,951        13,763        2,209
Add back: Loss from foreign currency translation     921           1,760         282
Subtract: Gain from sale of long-term investments    -             (1,318)       (211)
Non-GAAP income before income tax expense            140,290       161,432       25,911
GAAP income tax expense                              (14,488)      (25,104)      (4,029)
Tax impact of share-based compensation expense, loss
from
 foreign currency translation and
gain from sale of long-term
 investments                          (3)           0             0
Non-GAAP income tax expense                          (14,491)      (25,104)      (4,029)
Non-GAAP adjusted net income                         125,799       136,328       21,882
Non-GAAP adjusted earnings per share:
 Basic                                2.21          2.36          0.38
 Diluted                              2.14          2.30          0.37
Non-GAAP adjusted earnings per ADS (Note 2):
 Basic                                4.42          4.72          0.76
 Diluted                              4.27          4.59          0.74
Weighted average number of common shares
outstanding:
 Basic                                56,942,481    57,721,227    57,721,227
 Diluted                              58,902,070    59,359,096    59,359,096
                                                     For the Year Ended
                                                     December31,  December31,  December31,
                                                     2011          2012          2012
                                                     (unaudited)   (unaudited)   (unaudited)
(In thousands, except share, per share and per ADS
data)
                                                     RMB           RMB           USD (Note 1)
GAAP income before income tax expense                467,564       565,685       90,798
Add back: Share-based compensation expense           37,974        50,538        8,112
Add back: Loss from foreign currency translation     9,363         447           72
Add back: Loss from impairment of long-term          15,081        -             -
investments
Subtract: Gain from sale of long-term investments    -             (1,318)       (211)
Non-GAAP income before income tax expense            529,982       615,352       98,771
GAAP income tax expense                              (81,056)      (95,579)      (15,341)
Tax impact of share-based compensation expense, loss
from
 foreign currency translation, loss
from impairment and gain
 from sale of long-term investments   (51)          2             0
Non-GAAP income tax expense                          (81,107)      (95,577)      (15,341)
Non-GAAP adjusted net income                         448,875       519,775       83,430
Non-GAAP adjusted earnings per share:
 Basic                                7.91          9.04          1.45
 Diluted                              7.60          8.75          1.41
Non-GAAP adjusted earnings per ADS (Note 2):
 Basic                                15.82         18.08         2.90
 Diluted                              15.20         17.51         2.81
Weighted average number of common shares
outstanding:
 Basic                                56,754,240    57,510,591    57,510,591
 Diluted                              59,067,424    59,375,123    59,375,123
Notes:
1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying
rate of US$1.00 to RMB6.2301 on
 December 31, 2012 in New York for cable transfers of Renminbi as set forth in the H.10
weekly statistical release of the Federal
 Reserve Board.
2. Each ADS represents two common shares.



51job, Inc.
Consolidated Balance Sheets
                                                                            As of
                                                                            December31,  December31,  December31,
                                                                            2011          2012          2012
(In thousands,exceptshareandpersharedata)                             (unaudited)   (unaudited)   (unaudited)
                                                                            RMB           RMB           USD (Note 1)
ASSETS
Current assets:
 Cash                                                        783,699       1,122,557     180,183
 Restricted cash                                             4,263         14,468        2,322
 Short-term investments                                      1,270,343     1,408,845     226,135
 Accountsreceivable(netofallowanceofRMB2,022and
RMB3,260 as of December 31, 2011 and December 31,   43,708        52,688        8,457
2012, respectively)
 Prepayments and other current assets                        199,836       280,242       44,982
 Deferred tax assets, current                                11,042        8,643         1,387
Total current assets                                                        2,312,891     2,887,443     463,466
Property and equipment, net                                                 192,120       280,657       45,049
Intangible assets, net                                                      4,290         3,919         629
Other long-term assets                                                      48,649        69,343        11,130
Deferred tax assets, non-current                                            86            -             -
Total non-current assets                                                    245,145       353,919       56,808
Total assets                                                                2,558,036     3,241,362     520,274
LIABILITIES
Current liabilities:
 Accounts payable                                            20,326        17,146        2,752
 Salary and employee related accrual                         44,287        48,450        7,777
 Taxes payable                                               54,623        65,858        10,571
 Advance from customers                                      290,460       338,330       54,306
 Other payables and accruals                                 40,793        103,565       16,623
Total current liabilities                                                   450,489       573,349       92,029
Deferred tax liabilities, non-current                                       1,972         1,985         318
Total liabilities                                                           452,461       575,334       92,347
Shareholders' equity:
 Common shares (US$0.0001 par value; 500,000,000
sharesauthorized,56,981,341and57,786,679shares 47            48            8
issued and outstanding as of December 31, 2011 and
December 31, 2012, respectively)
 Additional paid-in capital                                  1,061,819     1,152,174     184,937
 Statutory reserves                                          7,332         6,944         1,115
 Accumulated other comprehensive income                      1,638         1,629         261
 Retained earnings                                           1,034,739     1,505,233     241,606
Total shareholders' equity                                                  2,105,575     2,666,028     427,927
Total liabilities and shareholders' equity                                  2,558,036     3,241,362     520,274
Note 1: The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of US$1.00 to
RMB6.2301 on
 December 31, 2012 in New York for cable transfers of Renminbi as set forth in the H.10 weekly
statistical release of the Federal
 Reserve Board.



SOURCE 51job, Inc.

Website: http://www.51job.com
Website: http://ir.51job.com
 
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