China Lodging Group Limited (HTHT) reported that its fourth-quarter net income attributable to the company was RMB 18.2 million or US$2.9 million, compared to RMB 30.3 million or US$4.8 million in the prior year quarter.
Excluding share-based compensation expenses, adjusted net income attributable to the company for the fourth quarter was RMB23.3 million or US$3.7 million, compared to RMB32.2 million or US$5.3 million in the comparable quarter last year. The year-over-year decrease in net income was mainly due to lower income from operations and interest income, offset by foreign exchange gain.
Net earnings per ADS for the quarter were RMB0.29 or US$0.05, down from RMB0.49.
Adjusted net earnings per ADS for the latest-quarter were RMB0.38 or US$0.06.
Total revenues for the fourth quarter were RMB 936.7 million or US$150.3 million, representing an increase of 35.8% year-over-year. The year-over-year increase was primarily due to the company's continued expansion of its hotel network.
Analysts polled by Thomson Reuters expected the company to report earnings of US$1.16 per share on revenues of US$491.42 million for the quarter. Analysts' estimates typically exclude special items.
The company expects to achieve net revenues in the range of RMB845 to 860 million in the first quarter of 2013, representing a 30% to 32% growth year-over-year.
For the full year of 2013, the company expects net revenues to grow 26% to 29% from 2012.
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