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Sina Turns To Profit In Q4; Provides Q1 Non-GAAP Revenue Outlook - Quick Facts

Sina Corp. (SINA) reported that its fourth-quarter net income attributable to the company was $9.3 million or $0.14 per share, compared to a net loss of $100.0 million or $1.62 per share in the same period last year.

Non-GAAP net income attributable to SINA for the fourth quarter of 2011 declined to $14.0 million or $0.21 per share from $30.6 million or $0.46 per share in the comparable quarter last year. On average, fifteen analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share. Analysts' estimates typically exclude special items.

Net revenues were $133.37 million, up from $109.95 million in the same period last year, while non-GAAP net revenues for the fourth quarter of 2011 totaled $128.68 million, compared to $105.0 million for the same period last year.

Analysts estimated revenues of $129.34 million for the quarter.

SINA estimates that its non-GAAP net revenues for the first quarter of 2012 will be between $101 million and $104 million. Analysts expect the company to report revenues of $113.74 million for the first quarter.

by RTT Staff Writer

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