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Exhibit 99.1
SINA Reports Q1 2006 Financial Results
Shanghai, China— (PR Newswire)—May 9, 2006—SINA Corporation (Nasdaq: SINA), a leading online media
company and mobile value-added service (MVAS) provider for China and for the global Chinese
communities, today announced its unaudited financial results for the first quarter ended March 31,
2006.
Q1 2006 Highlights
| • | Net revenues of $46.7 million increased 2% year-over-year. | ||
| • | Advertising revenues of $22.2 million increased 33% year-over-year. | ||
| • | Non-advertising revenues of $24.5 million decreased 16% year-over-year. | ||
| • | U.S. GAAP net income of $7.0 million, or $0.12 diluted net income per share. | ||
| • | Non-GAAP net income of $9.6 million, or $0.16 non-GAAP diluted net income per share. The Company’s non-GAAP net income target range for the first quarter of 2006 was $8.5 million to $9.5 million. Non-GAAP measures are described below and reconciled to the corresponding GAAP measures in the section below titled “Reconciliation of Non-GAAP to GAAP Results.” |
“We are proud of another strong quarter in our advertising business, which grew 33% year-over-year
worldwide and 36% year-over-year in China. We believe the momentum from our advertising business
will help grow our overall business going forward.” said Charles Chao, CEO of SINA.
Financial Results
For the first quarter of 2006, SINA reported net revenues of $46.7 million, compared to $45.8 million in the same period last year and $52.0 million last quarter.
For the first quarter of 2006, SINA reported net revenues of $46.7 million, compared to $45.8 million in the same period last year and $52.0 million last quarter.
Advertising revenues for the first quarter of 2006 totaled $22.2 million, representing a 33%
increase from the same period last year and an 11% decrease from last quarter. Advertising
revenues in the first quarter of 2006 represented 47% of the Company’s total revenues, compared to
36% for the same period last year.
Non-advertising revenues for the first quarter of 2006 totaled $24.5 million, a 16% decrease from
the same period last year and a 9% decrease from last quarter. Revenues from MVAS for the first
quarter of 2006 were $22.7 million, representing a decrease of 14% from the same period last year
and a decrease of 9% from last quarter. Revenues from SMS decreased 20% year-over-year to $16.2
million in the first quarter of 2006 and contributed to the majority of the year-over-year decline
in MVAS revenues.
Gross margin for the first quarter of 2006 was 61%, down from 67% for the same period last year and
66% last quarter. Advertising gross margin for the first quarter of 2006 was 63%, compared to 65%
for the same period last year and 69% in the previous quarter. Advertising gross margin amount in
the first quarter of 2006 included the impact of $0.4 million in stock-based compensation from the
adoption of Statement of Financial Accounting Standard No.
1
The following information was filed by Sina Corp (SINA) on Tuesday, May 9, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Sina Corp's financial trajectory
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SINA Quarterly Reports
- 10-Q Quarterly Report November 2006
- 10-Q Quarterly Report August 2006
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10-Q Quarterly Report May 2006
- 10-Q Quarterly Report November 2005
- 10-Q Quarterly Report August 2005
