ChinaNet Online Holdings Inc. (CNET) reported that its fourth-quarter net income attributable to common stockholders was $1.2 million or $0.06 per share, compared to a net loss of $3.9 million or $0.19 per share in the year ago quarter.
Non-GAAP adjusted net income attributable to common stockholders for the quarter was $1.4 million or $0.06 per share, compared to a loss of $1.8 million or $0.08 per share in the prior year quarter.
Operating expenses for quarter were about $3.1 million, down substantially from $7.5 million in the comparable period in 2011. General and administrative expenses fell by $3.5 million to $1.7 million due to lower non-cash bad debts provision and stock compensation expenses.
Revenues increased by $2.1 million to $8.3 million for the fourth-quarter of 2012 compared to the fourth-quarter ended December 31, 2011, representing a 34% increase.
Revenue from Internet advertisements for the three months ended December 31, 2012 increased by 70% to $6.0 million compared to the three months ended December 31, 2011, primarily due to the additional revenues from Sou Yi Lian Mei or "SOOE", the company ChinaNet acquired in December 2011.
The company said it anticipates to release the revenues and net income guidance for fiscal year 2013 in May 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.