Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Lentuo Q2 Profit Down On Higher Expenses

RELATED NEWS
Trade LAS now with 

Lentuo International Inc. (LAS: Quote), a Beijing-based automobile retailer, Tuesday reported a decline in net income for its second quarter, despite an increase in revenue. The results reflected a rise in operating expenses.

In the second quarter, the company's net income declined to RMB 8.69 million, or $1.3 million, from RMB 11.78 million last year, and on a per share basis, profit dipped to RMB 0.14 from RMB 0.20 in the prior year.

Operating expenses for the quarter, including general, administrative and selling expenses, rose to RMB 40.21 million from RMB 28.87 million last year.

For the quarter, revenues, however, rose by 21.2 percent to RMB 792.5 million, or $124.7 million, from RMB 653.8 million in 2011, helped by automobile sales, which increased by 24.3 percent to RMB 709.9 million or $111.7 million.

During the quarter, the company sold 4,301 vehicles, representing an increase of 54.5 percent from 2,784 vehicles in the prior year quarter.

Monday the stock closed at $1.84 on the NYSE.

Click here to receive FREE breaking news email alerts for Lentuo International Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast. Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.