Jiayuan Announces Fourth Quarter and Full Year 2012 Financial Results
Jiayuan Announces Fourth Quarter and Full Year 2012 Financial Results
PR Newswire
BEIJING, Feb. 27, 2013
BEIJING, Feb. 27, 2013 /PRNewswire-FirstCall/ -- Jiayuan.com International
Ltd. ("Jiayuan") (NASDAQ: DATE), operator of the largest online dating
platform in China, today announced its unaudited financial results for the
fourth quarter and full year ended December 31, 2012.
Fourth Quarter 2012 Highlights[1]
o Net revenues for the fourth quarter 2012 were RMB110.5 million (US$17.7
million), a year-over-year increase of 24.8%.
o Operating income for the fourth quarter 2012 was RMB12.7 million (US$2.0
million), compared to operating loss of RMB4.3 million for the
corresponding quarter of 2011. The increase in operating income was a
result of strong growth in Jiayuan's online services, as well as reduced
operational expenses. Excluding share-based compensation, non-GAAP[2]
operating income for the fourth quarter 2012 was RMB17.4 million (US$2.8
million), compared to non-GAAP operating loss of RMB322,000 for the
corresponding quarter of 2011.
o Net income attributable to Jiayuan for the fourth quarter 2012 was RMB17.2
million (US$2.8 million), compared to net loss attributable to Jiayuan of
RMB1.2 million for the corresponding quarter of 2011. Excluding
share-based compensation,non-GAAP net income attributable to Jiayuan for
the fourth quarter of 2012 was RMB22.0 million (US$3.5 million), compared
to RMB2.8 million for the corresponding quarter of 2011.
Full Year 2012 Highlights
o Net revenues for full year 2012 were RMB410.8 million (US$65.9 million), a
year-over-year increase of 24.0%.
o Operating income for full year 2012 was RMB51.8 million (US$8.3 million),
a year-over-year increase of 30.1%. Excluding share-based
compensation, non-GAAP operating income for full year 2012 was RMB65.2
million (US$10.5 million), representing a year-over-year decrease of 7.4%
from RMB70.3 million for the previous year.[3]
o Net income attributable to Jiayuan for full year 2012 was RMB58.9 million
(US$9.5 million), a year-over-year increase of 58.2%. Excluding
share-based compensation,non-GAAP net income attributable to Jiayuan for
full year 2012 was RMB72.3 million (US$11.6 million), a 6.7%
year-over-year increase.
"Despite the fourth quarter being Jiayuan's traditionally slow season, our
focus on improving user experience and providing the best results for
marriage-minded singles helped drive solid revenue growth of 24.8%
year-on-year," said Mr. Linguang Wu, CEO of Jiayuan. "We continued to pursue
our segmentation strategy with the acquisition of juedui100.com, one of
China's top online dating websites, which will become an important supplement
to Jiayuan.com and our rapidly expanding members-only website, izhenxin.com."
"We saw strong mobile usage during the quarter, which helped to drive
encouraging ARPU as users spend more time on the Jiayuan platform," added Mr.
Wu. "Our smart phone apps continue to be enormously popular in China, and we
were pleased to receive multiple awards for them in the fourth quarter. In the
quarters ahead, we will continue to improve our user experience with new
products, and will introduce new services catering to mobile users."
"In the fourth quarter, we continued to increase the efficiency and
effectiveness of our marketing activities, reflected in lower marketing
expenses than anticipated for the quarter. Looking to 2013, we expect
marketing expenses to be stable as we launch innovative new products and
strengthen our lead in the industry," said Mr. Shang Koo, CFO of Jiayuan. "We
are in the process of finalizing the acquisition of new office space nearby
our current location, which we expect to close in the first quarter. While we
expect additional costs in the next two quarters related to our relocation,
our new office space will allow us to better control costs and provide a
stable work environment for our future growth."
Fourth Quarter 2012 Operational Results
The number of average monthly active user accounts[4] for the fourth quarter
2012 was 5,123,265, compared to 5,179,713 for the corresponding period of 2011
and 5,242,237 for the previous quarter.
The number of average monthly paying user accounts[5] for the fourth quarter
2012 was 1,233,466, compared to 1,172,159 for the corresponding period of 2011
and 1,272,185 for the previous quarter.
Average monthly revenue per paying user ("ARPU") for online services for the
fourth quarter 2012 was RMB26.5, compared to RMB21.5 for the corresponding
period in 2011 and RMB26.5 for the previous quarter.
Fourth Quarter 2012 Financial Results
Jiayuan reported net revenues of RMB110.5 million (US$17.7 million) for the
fourth quarter of 2012, representing a year-over-year increase of 24.8% from
RMB88.6 million, primarily due to the strong growth of online services, and a
slight decrease compared to RMB113.5 million for the previous quarter due to
seasonal slowdown in user activity.
o Online services contributed RMB98.1 million (US$15.7 million), or 88.7% of
net revenues for the fourth quarter of 2012, representing a year-over-year
increase of 29.6% from RMB75.7 million, and compared to RMB101.1 million
for the previous quarter. The year-over-year increase was mainly
attributable to the increase in paying user accounts and ARPU. The slight
sequential decline was due to seasonal slowdown in user activity during
the winter months.
o Events and VIP services contributed RMB12.4 million (US$2.0 million), or
11.3% of net revenues for the fourth quarter of 2012, representing a
year-over-year decrease of 2.0% from RMB12.7 million due to internal
restructuring of the offline business that occurred in the first half of
2012, and a quarter-over-quarter increase of 2.9% from RMB12.1 million due
to the recovery of our VIP business.
Cost of revenues for the fourth quarter of 2012 was RMB38.2 million (US$6.1
million), representing a year-over-year increase of 29.4% from RMB29.6
million, and compared to RMB39.6 million for the previous quarter. The yearly
increase was in line with the strong growth of online services.
Gross profit for the fourth quarter of 2012 was RMB72.3 million (US$11.6
million), representing a year-over-year increase of 22.5% from RMB59.0
million, and compared to RMB73.9 million for the previous quarter.
Selling and marketing expenses were RMB40.7 million (US$6.5 million) for the
fourth quarter of 2012, representing a year-over-year decrease of 5.4% from
RMB43.0 million, and a quarter-over-quarter increase of 8.6% from RMB37.5
million. The year-over-year decrease was primarily due to a marketing campaign
conducted in the corresponding quarter of 2011. The sequential increase was
due to increased marketing activities.
General and administrative expenses were RMB13.9 million (US$2.2 million) for
the fourth quarter of 2012, representing a year-over-year decrease of 13.0%
from RMB16.0 million for the fourth quarter of 2011 due to lower provisions
for year-end bonuses and better cost controls. There was a sequential decrease
of 8.6% from RMB15.2 million for the third quarter of 2012. The
quarter-over-quarter decrease was primarily due to better cost controls.
Research and development expenses were RMB5.0 million (US$797,000) for the
fourth quarter of 2012, representing a year-over-year increase of 14.9% from
RMB4.3 million for the corresponding quarter of 2011, and a
quarter-over-quarter increase of 13.0% from RMB4.4 million for the third
quarter of 2012. The increase was primarily due to an increase in the number
of research and development personnel as part of Jiayuan's segmentation
strategy, and continued investment in research and development for Jiayuan's
online and wireless services.
Operating income for the fourth quarter of 2012 was RMB12.7 million (US$2.0
million), compared to operating loss of RMB4.3 million for the corresponding
quarter of 2011, and operating income of RMB16.7 million in the previous
quarter. The year-over-year increase was due to strong growth in Jiayuan's
online business, as well as better cost controls. The sequential decrease was
primarily due to the increase of selling and marketing expenses. Excluding
share-based compensation expenses, non-GAAP operating income for the fourth
quarter of 2012 was RMB17.4 million (US$2.8 million), compared to non-GAAP
operating loss of RMB322,000 for the corresponding quarter of 2011, and
non-GAAP operating income of RMB21.0 million for the previous quarter.
Foreign currency exchange net gain for the fourth quarter of 2012 was
RMB745,000 (US$120,000), compared to foreign currency exchange net loss of
RMB1.4 million for the third quarter of 2012 and foreign currency exchange net
gain of RMB2.8 million for the corresponding quarter of 2011. The foreign
currency exchange net gain for the fourth quarter of 2012 was mainly
attributable to RMB appreciation against the U.S. dollar during the period.
Part of the proceeds from Jiayuan's IPO have been converted into RMB and are
being held by its overseas entities whose functional currencies are the U.S.
dollar.
Net income attributable to Jiayuan[6] for the fourth quarter of 2012 was
RMB17.2 million (US$2.8 million), compared to net loss attributable to Jiayuan
of RMB1.2 million for the corresponding quarter of 2011, and net income
attributable to Jiayuan of RMB15.9 million for the previous quarter. Excluding
share-based compensation expenses, non-GAAP net income attributable to Jiayuan
for the fourth quarter of 2012 was RMB22.0 million (US$3.5 million), compared
to RMB2.8 million for the corresponding quarter of 2011, and RMB20.2 million
for the previous quarter.
Basic and diluted net income per ADS[7] for the fourth quarter of 2012 were
RMB0.57 (US$0.09) and RMB0.56 (US$0.09), respectively, compared to basic and
diluted net loss per ADS of RMB0.04 for the corresponding quarter of 2011, and
basic and diluted net income per ADS of RMB0.52 and RMB0.51, respectively, for
the third quarter of 2012.
Excluding share-based compensation expenses, non-GAAP basic and diluted net
income per ADS for the fourth quarter of 2012 were RMB0.73 (US$0.12) and
RMB0.71 (US$0.11), respectively, compared to non-GAAP basic and diluted net
income per ADS of RMB0.09 for the corresponding quarter of 2011 and non-GAAP
basic and diluted net income per ADS of RMB0.66 and RMB0.64, respectively, for
the third quarter of 2012.
As of December 31, 2012, Jiayuan had cash and cash equivalents and short-term
deposits of RMB490.7 million (US$78.8 million). Cash flows used for operating
activities for the fourth quarter of 2012 were RMB7.6 million (US$1.2
million), which consisted primarily of prepayment for service/advertising
expenses made to third-party service providers.
The weighted average number of ADSs outstanding used in calculating diluted
net income per ADS and non-GAAP diluted net income per ADS in the fourth
quarter of 2012 was 30.8 million. As of December 31, 2012, the Company had
32.1 million ADSs outstanding, including 0.3 million ADSs issued to the
depository for future exercise of options.
Full Year 2012 Financial Results[8]
Jiayuan reported net revenues of RMB410.8 million (US$65.9 million) for full
year 2012, representing an increase of 24.0% from RMB331.2 million for full
year 2011, primarily due to the strong growth in Jiayuan's online services.
o Online services contributed RMB362.5 million (US$58.2 million), or 88.2%
of net revenues for full year 2012, representing an increase of 30.8% from
RMB277.2 million for the previous year due to the steady increase of ARPU
and paying users.
o Events and VIP services contributed RMB47.4 million (US$7.6 million), or
11.5% of net revenues for full year 2012, representing a decrease of 7.4%
from RMB51.2 million for the previous year due to internal restructuring
of the offline businesses in the first half of 2012.
Cost of revenues for full year 2012 was RMB143.7 million (US$23.1 million),
representing an increase of 37.1% from RMB104.8 million from the previous
year. This increase was primarily attributable to the expansion of online
services.
Gross profit for full year 2012 was RMB267.1 million (US$42.9 million),
representing an increase of 18.0% from RMB226.4 million for the previous year.
Selling and marketing expenses were RMB143.4 million (US$23.0 million) for
full year 2012, representing an increase of 29.7% from RMB110.5 million for
the previous year. The increase was attributable to increased marketing
spending in line with higher advertising prices.
General and administrative expenses were RMB54.4 million (US$8.7 million) for
full year 2012, representing a decrease of 15.5% from RMB64.3 million for the
previous year. The year-over-year decrease was due to IPO-related share-based
compensation expenses of RMB17.5 million for the second quarter of 2011. This
was partially offset by increase in labor cost and an increase in
administrative expenses associated with a listed company.
Research and development expenses were RMB17.6 million (US$2.8 million) for
full year 2012, representing an increase of 49.1% from RMB11.8 million for the
previous year. This increase was primarily due to continued investment in
research and development for Jiayuan's online and wireless services.
Operating income for full year 2012 was RMB51.8 million (US$8.3 million),
representing an increase of 30.1% from RMB39.8 million for the previous year.
Excluding share-based compensation expenses, non-GAAP operating income for
full year 2012 was RMB65.2 million (US$10.5 million), representing a decrease
of 7.4% from RMB70.3 million for the previous year, which was primarily
attributable to higher sales and marketing expenses in 2012.
Foreign currency exchange net loss for full year 2012 was RMB1.8 million
(US$296,000), compared to foreign currency exchange net gain of RMB8.9 million
for the previous year. The foreign currency exchange net loss for full year
2012 was mainly attributable to RMB exchange rate fluctuations during the
year. Part of the proceeds from Jiayuan's IPO have been converted into RMB and
are being held by its overseas entities whose functional currencies are the
U.S. dollar.
Net income attributable to Jiayuan for full year 2012 was RMB58.9 million
(US$9.5 million), representing an increase of 58.2% from RMB37.2 million for
the previous year. Excluding share-based compensation expenses, non-GAAP net
income attributed to Jiayuan for full year 2012 was RMB72.3 million (US$11.6
million), representing an increase of 6.7% from RMB67.8 million for the
previous year.
Basic and diluted net income per ADS for full year 2012 were RMB1.91 (US$0.31)
and RMB1.85 (US$0.30), respectively, compared to basic and diluted net income
of RMB0.81 and RMB0.76, respectively, for the previous year.
Excluding share-based compensation expenses, non-GAAP basic and diluted net
income per ADS for full year 2012 were RMB2.34 (US$0.38) and RMB2.27
(US$0.36), respectively, compared to non-GAAP basic and diluted net income per
ADS of RMB1.96 and RMB1.84 for the previous year.
Recent Development
Jiayuan is in the process of finalizing the acquisition of a new office space
near the Company's current location for a total consideration of RMB74.2
million (US$11.9 million), using its available cash on hand. The acquisition
is expected to close in the first quarter of 2013.
First Quarter 2013 Outlook
Jiayuan currently expects to generate net revenues in the range of RMB106
million to RMB108 million for the first quarter of 2013. This forecast
reflects Jiayuan's current and preliminary view, which is subject to change.
Conference Call Information
Jiayuan's management will host a conference call to discuss its results and
outlook today, February 27, 2013, at 8:00 p.m. U.S. Eastern Time (9:00 a.m.
February 28, 2013 Beijing/Hong Kong Time).
Dial-in details for the earnings conference call are as follows:
United States: +1-646-2543-515
United States (Toll-free) : +1-855-5008-701
Hong Kong: +852-3051-2745
China: 400-1200-654
International/All other regions: + 65-6723-9385
Passcode: 99359335
A replay of the conference call may be accessed by phone at the following
number until March 6, 2013:
International: +61-2-8199-0299
Passcode: 99359335
A live and archived webcast of the conference call will be available at
ir.jiayuan.com.
About Jiayuan
Jiayuan.com International Ltd. ("Jiayuan") (NASDAQ: DATE) operates the largest
online dating platform in China. Jiayuan is committed to providing a trusted,
effective, and user-focused online dating platform that addresses the dating
and marriage needs of China's rapidly growing urban singles population. As a
pioneer in China's online dating market, Jiayuan ranked first in terms of
number of unique visitors, average time spent per user and average page views
per user among all online dating websites in China in 2012, according to
iResearch. Jiayuan recorded an average of 5.1 million monthly active user
accounts in the fourth quarter of 2012. Every two of Jiayuan's American
Depositary Shares represent three ordinary shares.
For more information, please visit http://ir.jiayuan.com.
Forward-Looking Statements
This press release 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 "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Jiayuan may also make written or verbal forward-looking statements
in its periodic reports to the U.S. Securities and Exchange Commission, in its
annual report to shareholders, in press releases and other written materials
and in verbal statements made by its officers, directors or employees to
fourth parties. Statements that are not historical facts, including statements
about our beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A number
of factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not limited to the
following: our growth strategies; our future business development, including
development of new products and services; our ability to attract and retain
users; competition in the Chinese online dating markets; changes in our
revenues and certain cost or expense items as a percentage of our revenues;
the outcome of any litigation or arbitration; the expected growth of the
number of Internet and broadband users in China; Chinese governmental policies
relating to the Internet and online dating websites and general economic
conditions in China and elsewhere. Further information regarding these and
other risks is included in our documents filed with the U.S. Securities and
Exchange Commission. Jiayuan does not undertake any obligation to update any
forward-looking statement, except as required under applicable law. All
information provided in this press release is as of the date of the press
release, and Jiayuan undertakes no duty to update such information, except as
required under applicable law.
Non-GAAP Financial Measures
We disclose non-GAAP financial measures of operating income/(loss), net
income/(loss) to Jiayuan.com International Ltd, net income/(loss) attributable
to ordinary shareholders and net income/(loss) per ADS, each of which is
adjusted to exclude share-based compensation expense. We review non-GAAP
financial measures to obtain an additional understanding of our operating
performance. We also believe it is useful supplemental information for
investors and analysts to assess our operating performance without the effect
of non-cash share-based compensation expense, which have been and will
continue to be significant recurring expenses in our business. For a
reconciliation of each of these non-GAAP financial measures to the most
directly comparable GAAP financial measures, please see "Reconciliation To
Unaudited Condensed Consolidated Statement of Operations" included in this
press release.
However, the use of non-GAAP financial measures has material limitations as an
analytical tool. One of the limitations of using non-GAAP financial measures
is that it does not include all items that impact our non-GAAP financial
measures during the period. In addition, because non-GAAP financial measures
are not calculated in the same manner by all companies, it may not be
comparable to other similar titled measures used by other companies. In light
of the foregoing limitations, you should not consider non-GAAP financial
measures in isolation from or as an alternative to GAAP financial measures.
Management compensates for this limitation by providing specific information
regarding the GAAP amount excluded from the non-GAAP measure.
This announcement contains translations of certain Renminbi ("RMB")
amounts into U.S. dollar ("US$") amounts at specified rates solely for
the convenience of readers. Unless otherwise noted, all translations from
[1] RMB amounts into US$ amounts as of and for the quarter and the year ended
December 31, 2012, were made at an exchange rate of RMB6.2301 to US$1.00,
representing the rate as certified by the H.10 weekly statistical release
of the Federal Reserve Board on December 31, 2012. Jiayuan's functional
currency is U.S. dollar and reporting currency is RMB.
Explanation of Jiayuan's non-GAAP financial measures and related
[2] reconciliations to GAAP financial measures are included in the
accompanying ''Non-GAAP Financial Measures'' and ''Reconciliations to
Unaudited Condensed Consolidated Statements of Operations."
General and administrative expenses for full year 2011 included
IPO-related share-based compensation expenses of RMB17.5 million in
[3] relation to the share-based awards granted to contractors and current and
former employees which were fully vested upon the completion of Jiayuan's
IPO in May 2011.
Active user accounts are registered user accounts through which
registered users have logged in to the Jiayuan platform at least once
within a calendar month, in the case of user accounts registered in prior
[4] months, or on at least two separate days within a calendar month,
including the day of completion of the registration process, in the case
of user accounts newly registered in the calendar month. In the fourth
quarter of 2012, average monthly active user accounts include active user
accounts from izhenxin.com for 71 days and juedui100.com for 19 days.
In the fourth quarter of 2012, average monthly paying user accounts
[5] include paying user accounts from izhenxin.com for 71 days and
juedui100.com for 19 days.
Since the third quarter of 2011, net income/(loss) attributable to
[6] Jiayuan is equivalent to net income/(loss) attributable to ordinary
shareholders as all outstanding preferred shares were converted into
ordinary shares upon the completion of Jiayuan's IPO in May 2011.
Basic and diluted net income/(loss) per ADS are calculated based on net
[7] income/(loss) attributable to ordinary shareholders and the corresponding
basic and diluted number of ADSs, assuming that, during each period
presented, every two ADSs represent three ordinary shares of Jiayuan.
The unaudited financial information disclosed in this press release is
preliminary. The preparation of the financial statements and related
notes to be included in the Company's annual report on Form 20-F for the
[8] year ended December 31, 2012 is still in progress. Adjustments to the
financial information may be identified when the preparation work is
completed, which could result in significant differences between the
Company's audited financial statements and this preliminary unaudited
financial information.
For investor and media inquiries, please contact:
Beijing
Shirley Zhang
Jiayuan.com International Ltd.
+86 (10) 6442-2321
ir@jiayuan.com
Yue Yu
Brunswick Group LLP
+86 (10) 5960-8600
jiayuan@brunswickgroup.com
New York
Cindy Zheng
Brunswick Group LLP
+1 (212) 333-3810
jiayuan@brunswickgroup.com
JIAYUAN.COM INTERNATIONAL LTD.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
December 31, September 30, December 31,
2011 2012 2012 2012
RMB RMB RMB US$
ASSETS
Current assets:
Cash and cash equivalents 181,340 433,507 257,709 41,365
Short-term deposits 404,500 159,035 233,025 37,403
Term deposits – current portion - 10,000 10,000 1,605
Available-for-sale securities - 5,010 5,047 810
Accounts receivable, net 16,294 28,306 40,102 6,437
Deferred tax assets 3,045 3,095 2,571 413
Prepaid expenses and other current assets 12,927 23,269 44,583 7,156
Total current assets 618,106 662,222 593,037 95,189
Non-current assets:
Term deposits 10,000 - - -
Prepaid expenses and other
- 3,000 74,240 11,916
receivable - non-current portion
Property and equipment, net 27,599 23,198 22,431 3,600
Goodwill - - 789 127
Intangible assets - - 4,569 733
Total assets 655,705 688,420 695,066 111,565
LIABILITIES
Current liabilities:
Deferred revenue – current portion 78,547 103,363 109,772 17,620
Accounts payable - 107 1,166 187
Accruals and other current liabilities 28,817 28,355 23,458 3,765
Income tax payable 14,824 13,282 12,483 2,004
Total current liabilities 122,188 145,107 146,879 23,576
Non-current liabilities:
Deferred revenue – non-current portion - 1,103 801 129
122,188 146,210 147,680 23,705
Total Liabilities
SHAREHOLDERS' EQUITY
Ordinary shares 339 343 343 55
Additional paid-in capital 522,470 531,252 536,173 86,062
Statutory reserves 5,792 5,792 9,502 1,525
Retained earnings 7,956 49,656 63,183 10,140
Treasury shares - (44,064) (58,003) (9,310)
Foreign currency translation adjustments (3,040) (769) (3,812) (612)
Total shareholders' equity 533,517 542,210 547,386 87,860
Total liabilities and shareholders' equity 655,705 688,420 695,066 111,565
JIAYUAN.COM INTERNATIONAL LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
Three months ended,
Dec 31, 2011 Sept 30, 2012 Dec 31, 2012
RMB RMB RMB US$
Net revenues 88,592 113,489 110,529 17,741
Cost of revenues (29,558) (39,629) (38,235) (6,137)
Gross profit 59,034 73,860 72,294 11,604
Operating expenses:
Selling and marketing expenses (43,041) (37,495) (40,721) (6,536)
General and administrative expenses (16,021) (15,247) (13,938) (2,237)
Research and development expenses (4,318) (4,393) (4,963) (797)
Total operating expenses (63,380) (57,135) (59,622) (9,570)
Operating (loss)/income (4,346) 16,725 12,672 2,034
Interest income, net 3,031 3,442 2,953 474
Foreign currency exchange gain/(losses), net 2,761 (1,422) 745 120
Other income/(expenses), net 1,955 (179) 2,230 358
Income before income tax 3,401 18,566 18,600 2,986
Income tax expenses (4,606) (2,632) (1,363) (219)
Net (loss)/income attributable to Jiayuan.com (1,205) 15,934 17,237 2,767
International Ltd.
Net (loss)/income per ADS – Basic (0.04) 0.52 0.57 0.09
Net (loss)/income per ADS – Diluted (0.04) 0.51 0.56 0.09
ADSs used in computing basic net income/(loss) per ADS 31,296,296 30,765,750 30,070,191 30,070,191
ADSs used in computing diluted net income/(loss) per ADS 31,296,296 31,443,850 30,777,619 30,777,619
JIAYUAN.COM INTERNATIONAL LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
Twelve months ended,
December 31, 2011 December 31, 2012
RMB RMB US$
Net revenues 331,241 410,803 65,938
Cost of revenues (104,814) (143,685) (23,063)
Gross profit 226,427 267,118 42,875
Operating expenses:
Selling and marketing expenses (110,521) (143,376) (23,013)
General and administrative expenses (64,310) (54,367) (8,727)
Research and development expenses (11,796) (17,587) (2,823)
Total operating expenses (186,627) (215,330) (34,563)
Operating income 39,800 51,788 8,312
Interest income, net 5,077 13,323 2,138
Foreign currency exchange gain/(losses), net 8,911 (1,845) (296)
Other income, net 1,562 4,898 786
Income before income tax 55,350 68,164 10,940
Income tax expenses (18,107) (9,227) (1,481)
Net income attributable to Jiayuan.com International 37,243 58,937 9,459
Ltd.
Accretion of redeemable convertible preferred shares (3,222) - -
Income allocated to participating preferred shareholders (12,681) - -
Net income attributable to ordinary shareholders 21,340 58,937 9,459
Net income per ADS – Basic 0.81 1.91 0.31
Net income per ADS – Diluted 0.76 1.85 0.30
ADSs used in computing basic net income per ADS 26,431,860 30,864,876 30,864,876
ADSs used in computing diluted net income per ADS 28,256,555 31,828,732 31,828,732
JIAYUAN.COM INTERNATIONAL LTD.
RECONCILIATIONS TO UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN RMB THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
Three Months Ended December 31, 2011 Three Months Ended September 30, 2012 Three Months Ended December 31, 2012
GAAP Non-GAAP Non-GAAP GAAP Non-GAAP Non-GAAP GAAP Non-GAAP Non-GAAP
Adjustments(a) Adjustments(a) Adjustments(a)
Operating (loss)/income (4,346) 4,024 (322) 16,725 4,260 20,985 12,672 4,724 17,396
Net (loss)/income attributable
to Jiayuan.com International (1,205) 4,024 2,819 15,934 4,260 20,194 17,237 4,724 21,961
Ltd.
Net (loss)/income attributable (1,205) 4,024 2,819 15,934 4,260 20,194 17,237 4,724 21,961
to ordinary shareholders
Basic net (loss)/income per ADS (0.04) 0.09 0.52 0.66 0.57 0.73
Diluted net (loss)/income per (0.04) 0.09 0.51 0.64 0.56 0.71
ADS
ADSs used in computing basic net 31,296,296 31,296,296 30,765,750 30,765,750 30,070,191 30,070,191
(loss)/income per ADS
ADSs used in computing diluted 31,296,296 32,970,806 31,443,850 31,443,850 30,777,619 30,777,619
net (loss)/ income per ADS
Note:
(a) To adjust for share-based compensation expense.
JIAYUAN.COM INTERNATIONAL LTD.
RECONCILIATIONS TO UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN RMB THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
Twelve Months Ended December 31, 2011 Twelve Months Ended December 31, 2012
GAAP Non-GAAP Non-GAAP GAAP Non-GAAP Non-GAAP
Adjustments(a) Adjustments(a)
Operating income 39,800 30,542 70,342 51,788 13,363 65,151
Net income attributable to Jiayuan.com International Ltd. 37,243 30,542 67,785 58,937 13,363 72,300
Net income attributable to ordinary shareholders 21,340 30,542 51,882 58,937 13,363 72,300
Basic net income per ADS 0.81 1.96 1.91 2.34
Diluted net income per ADS 0.76 1.84 1.85 2.27
ADSs used in computing basic net income per ADS 26,431,860 26,431,860 30,864,876 30,864,876
ADSs used in computing diluted net income per ADS 28,256,555 28,256,555 31,828,732 31,828,732
Note:
(a) To adjust for share-based compensation expense.
SOURCE Jiayuan.com International Ltd.
Website: http://www.Jiayuan.com
Website: http://ir.jiayuan.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement
Rate this Page