China Kanghui Holdings (KH: Quote) announced its unaudited financial results for the second quarter of 2012. Net income attributable to the company was RMB34.8 million or $5.5 million in the second quarter of 2012, representing a year-over-year increase of 24.7% from RMB27.9 million in the corresponding period of the prior year.
Net income per ADS was RMB1.33 or $0.21, compared to a net income per ADS of RMB1.09 in the corresponding period of the prior year.
Non-GAAP net income increased by 33.0% to RMB39.1 million or $6.2 million from RMB29.4 million in the prior year. Non-GAAP net income per ADS was RMB1.50 or $0.24 in the second quarter of 2012, compared to a non-GAAP net income per ADS of RMB1.11 in the corresponding period of the prior year.
Net revenue increased by 23.6% year-over-year to RMB101.1 million or $15.9 million in the second quarter of 2012 from RMB81.8 million in the corresponding period of the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share on revenues of $15.54 million for the quarter. Analysts' estimates typically exclude special items.
The company narrowed its total net revenue outlook for full year 2012 to be in the range of RMB395 million to RMB403 million, which represents year-over-year growth of 20.8% to 23.3%. The company raised its full year 2012 non-GAAP net income to a range of RMB149 million to RMB154 million, from its prior expectation of RMB146 million to RMB153 million.
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by RTT Staff Writer
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