(RTTNews) - Human resource services provider 51job, Inc. (JOBS: News ) Monday reported an increase in net profit for the third quarter, reflecting higher revenues and lower loss from foreign currency translation. Separately, the company said its chief financial officer Peter Lui has resigned due to personal reasons.

For the third quarter, the Shanghai, China-based company's net earnings were up 27.0% to US$5.26 million or RMB 35.91 million from RMB 28.29 million in the prior-year period. Net earnings per share were US$0.10 or RMB 0.65 compared with RMB 0.50 in the 2008-year period. On a per American Depositary Share, or ADS, basis, net income was US$0.19 or RMB 1.29 versus RMB 1.00 in the year-ago period.

On an adjusted basis, net profit was US$6.22 million or RMB 42.47 million compared to RMB 36.29 million in fiscal 2008. Adjusted profit per share was up to US$0.11 or RMB 0.77 from RMB 0.64 a year ago. On a per ADS basis, adjusted net earnings were US$0.22 or RMB 1.53 versus RMB 1.28 in the same quarter last year. Adjusted results exclude share-based compensation expense and impact of foreign currency translation loss.

Total revenues for the period were up 5.1% to US$32.17 million or RMB 219.60 million from RMB 209.02 million in the third quarter of fiscal 2008. After deducting for business and related tax, net revenues increased to US$30.47 million or RMB 208.01 million from RMB 197.77 million last year.

Revenues from online recruitment services were US$13.20 million or RMB 90.10 million versus RMB 77.66 million in the prior year, and other human resource related revenues for the period rose 8.6% to US$7.67 million or RMB 52.36 million from RMB 48.20 million a year earlier. However, revenues from print advertising declined 7.2% to US$11.30 million or RMB 77.14 million from RMB 83.16 million in the previous year.
Estimated number of print advertising pages generated in the third quarter decreased 23.6% to 3,213 from 4,204 pages a year ago. Average revenue per page increased 21.4% over the prior year, reflecting a rise in page volume contribution from cities where print advertising prices were generally higher as compared to the same quarter of last year.

Unique employers surged 47.0% to 91,167 from 62,023 in the 2008-year quarter, reflecting greater customer acceptance and usage of online recruitment services. However, average revenue per unique employer in the quarter decreased 21.1%, due to employers purchasing lower priced products and/or reduced spending on online recruitment services as compared to the previous year.

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