SouFun Holdings Limited (SFUN) reported that Net income attributable to shareholders for the fourth quarter of 2011 was US$30.1 million, a decrease of 24.2% from US$39.7 million for the same period of 2010. Net income per ADS declined to US$0.37 from US$0.48 last year.
Non-GAAP net income attributable to shareholders for the fourth quarter of 2011 was US$39.4 million, a decrease of 6.7% compared to US$42.2 million for the same period of 2010, primarily due to the change of accounting policy. Non-GAAP net income per ADS decreased to US$0.49 from US$0.51 last year.
Total revenues for the quarter were US$113.9 million, an increase of 15.1% compared to US$98.9 million for the same period of 2010. After excluding the effect from prepaid card business, total revenues for the fourth quarter of 2011 grew 18.8% compared to the same period of 2010.
SouFun estimates its total revenues for fiscal year of 2012 to be between US$380.0 million and US$400.0 million, representing a 10.5% to 16.3% growth compared to the total revenues of fiscal year of 2011.
Analysts polled by Thomson Reuters expect the company to report earnings of revenues of US$412.63 million for fiscal 2012. Analysts' estimates typically exclude special items.
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