Ctrip.com Intl (CTRP) research, news, and more from GeoInvesting

Company description

Mon, 31 Mar 2008 04:00:00 GMT

Ctrip.com International, Ltd. is a leading travel service provider that offers hotel reservations, airline tickets and packaged tours to business and leisure travelers in China. Ctrip aggregates information on hotels, flights and vacation packages, and enables customers to make informed and cost-effective travel bookings. Ctrip primarily targets frequent independent travelers in China who do not travel in groups. These travelers form a traditionally under-served yet fast-growing segment of the China travel industry.

Comments & Business Outlook

Thu, 09 May 2013 04:00:00 GMT

First Quarter 2013 Financial Results

Net revenues were RMB1.2 billion (US$187 million) for the first quarter of 2013, up 27% year-on-year, versus our first quarter net revenue guidance of 15-20% increase year-on-year.
Gross margin was 74% for the first quarter of 2013, compared to 75% in the same period in 2012.
Net income attributable to Ctrip's shareholders was RMB153 million (US$25 million) for the first quarter of 2013, down 26% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB265 million (US$43 million), down 14% year-on-year.
Diluted earnings per ADS were RMB1.10 (US$0.18) for the first quarter of 2013. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB1.87 (US$0.30) for the first quarter of 2013.

"We are glad to report strong results in the first quarter of 2013," said James Liang, Chairman of the Board and Chief Executive Officer of Ctrip. "We have made solid progress and gained market shares across major business lines. We will continue to focus on our mobile strategy, improve price competitiveness, strengthen partner relationships, and enhance marketing effectiveness. Our goal is to become the one-stop travel platform with best products, best services, and best prices for our customers. We are excited to capture the opportunities in the travel industry in Chinaand will work hard to elevate our leadership to the next level."

Business Outlook

For the second quarter of 2013, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change

Comments & Business Outlook

Fri, 01 Feb 2013 05:00:00 GMT

Highlights for the Fourth Quarter of 2012

Net revenues were RMB1.1 billion (US$177 million) for the fourth quarter of 2012, up 19% year-on-year, versus our fourth quarter net revenue guidance of 15-20% year-on-year.
Gross margin was 74% for the fourth quarter of 2012, compared to 76% in the same period in 2011.
Diluted earnings per ADS were RMB1.38 (US$0.22) for the fourth quarter of 2012. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.17 (US$0.35) for the fourth quarter of 2012.
Share-based compensation charges were RMB114 million (US$18 million), accounting for 10% of the net revenues, or RMB0.80 (US$0.13) per ADS for the fourth quarter of 2012.

"We are pleased with the solid results in the fourth quarter and full year 2012," said Min Fan, President and Chief Executive Officer of Ctrip. "We remain focused on our strategy of offering our customers the best products with the best services at the best prices. 2012 was the year of investment and we have enhanced our leadership in the online travel market of China. We will continue to invest in our customer services, product offering, brand recognition and technology development. Ctrip is well positioned to capture the fast growing opportunity in China travel market in the future."

Business Outlook

For the first quarter of 2013, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Comments & Business Outlook

Tue, 06 Nov 2012 05:00:00 GMT

Highlights for the Third Quarter of 2012

Net revenues were RMB1.17 billion (US$187 million) for the third quarter of 2012, up 20% year-on-year, versus our guidance of 15-20% year-on-year.
Gross margin was 76% for the third quarter of 2012, compared to 77% in the same period in 2011.
Income from operations was RMB190 million (US$30 million) for the third quarter of 2012, down 38% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB299 million(US$48 million), down 24% year-on-year.
Operating margin was 16% for the third quarter of 2012, compared to 31% in the same period in 2011. Excluding share-based compensation charges (non-GAAP), operating margin was 25%, compared to 41% in the same period in 2011.
Net income attributable to Ctrip's shareholders was RMB194 million (US$31 million) for the third quarter of 2012, down 40% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB302 million (US$48 million), down 27% year-on-year.
Diluted earnings per ADS were RMB1.41 (US$0.22) for the third quarter of 2012. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.20 (US$0.35) for the third quarter of 2012.
Share-based compensation charges were RMB108 million (US$17 million), accounting for 9% of the net revenues, or RMB0.79 (US$0.13) per ADS for the third quarter of 2012.

"We are pleased with the solid results in the third quarter of 2012," said Min Fan, President and Chief Executive Officer of Ctrip. "During the quarter, Ctrip achieved many milestones toward building the leading 'one-stop travel platform' in China by strengthening our partner relationships, upgrading the mobile platform, and lifting the sales and marketing efforts. With Ctrip team's strong execution, we believe Ctrip will continue enhancing the market leadership in China."

Business Outlook

For the fourth quarter of 2012, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Deal Flow

Tue, 25 Sep 2012 04:00:00 GMT

SHANGHAI, Sept. 24, 2012 /PRNewswire/ -- Ctrip.com International, Ltd. (Nasdaq: CTRP), a leading travel service provider of hotel accommodations, airline tickets, packaged tours and corporate travel management in China ("Ctrip" or the "Company"), today announced the completion of US$180 million in aggregate principal amount of convertible senior notes due 2017 (the "notes"), following the exercise in full of the over-allotment option that the Company previously granted to one of the Initial Purchasers to purchase up to $20.0 million aggregate principal amount of notes. The notes were offered to qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and certain non-U.S. persons in compliance with Regulation S under the Securities Act.

The notes will be convertible into Ctrip's American Depositary Shares ("ADSs"), each representing as of the date of this press release 0.25 of an ordinary share of Ctrip, based on an initial conversion rate of 51.7116 of the Company's ADSs per $1,000 principal amount of notes (which is equivalent to an initial conversion price of approximately US$19.34 per ADS and represents an approximately 10% conversion premium over the closing trading price of the Company's ADSs on September 18, 2012, which was US$17.58 per ADS). The conversion rate is subject to adjustment upon the occurrence of certain events. Full release.

Deal Flow

Wed, 19 Sep 2012 04:00:00 GMT

SHANGHAI, Sept. 18,2012 /PRNewswire/ -- Ctrip.com International, Ltd. (Nasdaq: CTRP), a leading travel service provider of hotel accommodations, airline tickets, packaged tours and corporate travel management in China ("Ctrip" or the "Company"), today announced that it proposes to offer up to US$140 million in aggregate principal amount of convertible senior notes due 2017 (the "notes"), subject to market conditions. The conversion rate and other terms of the notes have not been finalized and will be determined at the time of pricing of the offering. The Company intends to grant to the initial purchaser a 30-day option to purchase up to an additional US$20 million principal amount of notes solely to cover over-allotments, if any. The notes will be convertible into Ctrip's American depositary shares ("ADSs"), each representing as of the date of this press release 0.25 of an ordinary share of Ctrip, at the option of the holders, in integral multiples of US$1,000 principal amount, at any time prior to the close of business on the second business day immediately preceding the maturity date. Ctrip will not have the right to redeem the notes prior to maturity. Holders of the notes will have the right to require the Company to repurchase for cash all or part of their notes on September 15, 2015 at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, September 15, 2015. Full release.

Comments & Business Outlook

Tue, 24 Jul 2012 04:00:00 GMT

Highlights for the Second Quarter of 2012

Net revenues were RMB974 million (US$153 million) for the second quarter of 2012, up 17% year-on-year, versus our guidance of 15-20% year-on-year.
Gross margin was 75% for the second quarter of 2012, compared to 77% in the same period in 2011.
Income from operations was RMB168 million (US$26 million) for the second quarter of 2012, down 37% year-on-year.
Excluding share-based compensation charges (non-GAAP), income from operations was RMB277 million (US$44 million), down 22% year-on-year.
Operating margin was 17% for the second quarter of 2012, compared to 32% in the same period in 2011. Excluding share-based compensation charges (non-GAAP), operating margin was 28%, compared to 43% in the same period in 2011.
Net income attributable to Ctrip's shareholders was RMB120 million (US$19 million) in the second quarter of 2012, down 55% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB228 million (US$36 million), down 35% year-on-year.
Diluted earnings per ADS were RMB0.81 (US$0.13) for the second quarter of 2012. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB1.56 (US$0.24) for the second quarter of 2012. Share-based compensation charges were RMB109 million (US$17 million), accounting for 11% of the net revenues, or RMB0.74 (US$0.11) per ADS for the second quarter of 2012.

"We are pleased with the solid results in the second quarter of 2012," said Min Fan, President and Chief Executive Officer of Ctrip. "To strengthen Ctrip's capability of providing travelers with the one-stop travel products and services, we continued to invest heavily on product developments, especially in leisure travel products and services. We also launched intensified marketing campaigns to reach out to new customers. We believe that our investment today will further enhance Ctrip's market leadership in the long run."

Business Outlook

For the third quarter of 2012, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Notable Share Transactions

Wed, 13 Jun 2012 04:00:00 GMT

SHANGHAI, June 14, 2012 /PRNewswire-Asia/ -- Ctrip.com International, Ltd. (Nasdaq: CTRP) ("Ctrip" or the "Company"), a leading travel service provider of hotel accommodations, airline tickets, packaged tours and corporate travel management in China, today announced that the board of the Company has approved a new share repurchase program whereby Ctrip may purchase its own American depositary shares ("ADSs") with an aggregate value of up to US$300 million. The Company expects to fund the repurchase out of its existing cash balance, including cash dividends that it receives from its PRC subsidiaries. The dividends paid by the Company's PRC subsidiaries to the Company through its Hong Kong subsidiary will be subject to a 5% PRC withholding tax amounting up to US$15 million, which will decrease the Company's diluted consolidated earnings per ADS by about US$0.10 for the quarter affected. Impact of the PRC withholding tax will be reflected in the Company's 2012 second quarter financial results. The proposed share repurchase may be effected on the open market at prevailing market prices and/or in negotiated transactions off the market from time to time as market conditions warrant in accordance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended.

Comments & Business Outlook

Thu, 17 May 2012 04:00:00 GMT

Highlights for the First Quarter of 2012

Net revenues were RMB911 million (US$145 million) for the first quarter of 2012, up 19% year-on-year, versus our guidance of 15-20% year-on-year.
Gross margin was 75% for the first quarter of 2012, compared to 78% in the same period in 2011.
Income from operations was RMB177 million (US$28 million) for the first quarter of 2012, down 33% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB277 million (US$44 million), down 17% year-on-year.
Operating margin was 19% for the first quarter of 2012, compared to 34% in the same period in 2011. Excluding share-based compensation charges (non-GAAP), operating margin was 30%, compared to 44% in the same period in 2011.
Net income attributable to Ctrip's shareholders was RMB169 million (US$27 million) in the first quarter of 2012, down 28% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB270 million (US$43 million), down 12% year-on-year.
Diluted earnings per ADS were RMB1.11 (US$0.18) for the first quarter of 2012. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB1.77 (US$0.28) for the first quarter of 2012.
Share-based compensation charges were RMB101 million (US$16 million), accounting for 11% of the net revenues, or RMB0.66 (US$0.11) per ADS for the first quarter of 2012.

"Through solid execution on our business strategies, the Ctrip team has continued outperforming the industry in the first quarter of 2012," said Min Fan, President and Chief Executive Officer of Ctrip. "In the first quarter, we strengthened all business sectors, expanded into more new business areas and intensified sales and marketing campaigns. As the industry leader, Ctrip will continuously strive to deliver the best product with the best service at the best price to our customers."

Business Outlook

For the second quarter of 2012, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Comments & Business Outlook

Tue, 21 Feb 2012 05:00:00 GMT

Highlights for the Fourth Quarter of 2011

Net revenues were RMB926 million (US$147 million) for the fourth quarter of 2011, up 18% year-on-year.
Gross margin was 76% for the fourth quarter of 2011, compared to 78% in the same period in 2010.
Income from operations was RMB231 million (US$37 million) for the fourth quarter of 2011, down 21% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB325 million (US$52 million), down 8% year-on-year.
Operating margin was 25% for the fourth quarter of 2011, compared to 37% in the same period in 2010. Excluding share-based compensation charges (non-GAAP), operating margin was 35%, compared to 45% in the same period in 2010.
Net income attributable to Ctrip's shareholders was RMB253 million (US$40 million) in the fourth quarter of 2011, down 16% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB347 million (US$55 million), down 4% year-on-year.
Diluted earnings per ADS were RMB1.67 (US$0.27) for the fourth quarter of 2011. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.30 (US$0.37) for the fourth quarter of 2011.
Share-based compensation charges were RMB95 million (US$15 million), accounting for 10% of the net revenues, or RMB0.63 (US$0.10) per ADS for the fourth quarter of 2011.

"Despite a high 2010 comparison base, the Ctrip team delivered solid results in 2011. We increased our sales and marketing investment to further penetrate the leisure market during the fourth quarter," said Min Fan, President and Chief Executive Officer of Ctrip. "In 2012, Ctrip will invest further to enhance the competitive edge of each business line in order to offer the best product with the best service at the best price. Ctrip will work tirelessly to strengthen our leadership of the travel industry and rise far beyond the competition."

Business Outlook

For the first quarter of 2012, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Comments & Business Outlook

Mon, 14 Nov 2011 05:00:00 GMT

Third Quarter 2011 Results

Net revenues were RMB975 million (US$153 million) for the third quarter of 2011, up 20% year-on-year.
Gross margin was 77% for the third quarter of 2011, compared to 78% in the same period in 2010.
Income from operations was RMB304 million (US$48 million) for the third quarter of 2011, down 1% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB395 million (US$62 million), up 7% year-on-year.
Operating margin was 31% for the third quarter of 2011, compared to 38% in the same period in 2010. Excluding share-based compensation charges (non-GAAP), operating margin was 41%, compared to 45% in the same period in 2010.
Net income attributable to Ctrip's shareholders was RMB325 million (US$51 million) in the third quarter of 2011, up 2% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB416 million (US$65 million), up 9% year-on-year.
Diluted earnings per ADS were RMB2.13 (US$0.33) for the third quarter of 2011. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.73 (US$0.43) for the third quarter of 2011.
Share-based compensation charges were RMB91 million (US$14 million), accounting for 9% of the net revenues, or RMB0.59 (US$0.09) per ADS for the third quarter of 2011.

"Despite a challenging comparison base, Ctrip has continued to outperform the industry with solid growth in the third quarter of 2011," said Min Fan, President and Chief Executive Officer of Ctrip. "The Ctrip team effectively implemented the Company's strategies to extend market leadership in all areas. We are encouraged by the progress in sales and marketing, product development and system enhancement. Building on these concerted efforts, we believe the team will continue to succeed in this promising and challenging market."

Business Outlook

For the fourth quarter of 2011, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Notable Share Transactions

Thu, 29 Sep 2011 04:00:00 GMT

SHANGHAI, September 29, 2011 /PRNewswire-Asia/ -- Ctrip.com International, Ltd. (Nasdaq: CTRP) ("Ctrip" or the "Company"), a leading travel service provider of hotel accommodations, airline tickets, packaged tours and corporate travel management in China, today announced that the board of the Company has approved a new share repurchase program whereby Ctrip may purchase its own American Depositary Shares ("ADSs") with an aggregate value of up to US$100 million. The Company expects to fund the repurchase out of its existing cash balance, with the cash consideration of such repurchase being paid on Ctrip's behalf to the relevant ADS holders (or their agents) at the direction of the depositary. The proposed share repurchase may be effected on the open market at prevailing market prices and/or in negotiated transactions off the market from time to time as market conditions warrant in accordance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended.

Notable Share Transactions

Thu, 22 Sep 2011 04:00:00 GMT

SHANGHAI, September 22, 2011 /PRNewswire-Asia/ -- Ctrip.com International, Ltd. (Nasdaq: CTRP) ("Ctrip" or the "Company"), a leading travel service provider of hotel accommodations, airline tickets, packaged tours and corporate travel management in China, today announced that the Company plans to execute a share repurchase program whereby Ctrip may purchase its own American Depositary Shares ("ADSs") with an aggregate value of up to US$15 million. Ctrip has obtained board and shareholder approval for the share repurchase program. The Company expects to fund the repurchase out of its existing cash balance, with the cash consideration of such repurchase being paid on Ctrip's behalf to the relevant ADS holders (or their agents) at the direction of the depositary. The proposed share repurchase may be effected on the open market at prevailing market prices and/or in negotiated transactions off the market from time to time as market conditions warrant in accordance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended.

Comments & Business Outlook

Tue, 02 Aug 2011 04:00:00 GMT

Highlights for the Second Quarter of 2011

Net revenues were RMB833 million (US$129 million) for the second quarter of 2011, up 20% year-on-year. In the second quarter of 2011, Wing On Travel and ezTravel together contributed 4% for the year-on-year growth for net revenues.
Gross margin was 77% for the second quarter of 2011, compared to 78% in the same period in 2010.
Income from operations was RMB268 million (US$42 million) for the second quarter of 2011, up 4% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB356 million (US$55 million), up 13% year-on-year.
Operating margin was 32% for the second quarter of 2011, compared to 37% in the same period in 2010. Excluding share-based compensation charges (non-GAAP), operating margin was 43%, compared to 45% in the same period in 2010.
Net income attributable to Ctrip's shareholders was RMB264 million (US$41 million) in the second quarter of 2011, up 12% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB351 million (US$54 million), up 20% year-on-year.
Diluted earnings per ADS were RMB1.72 (US$0.27) for the second quarter of 2011. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.29 (US$0.35) for the second quarter of 2011.
Share-based compensation charges were RMB87 million (US$13 million), accounting for 10% of the net revenues, or RMB0.57 (US$0.09) per ADS for the second quarter of 2011.

"We are pleased that our team has delivered solid results in the second quarter of 2011," said Min Fan, President and Chief Executive Officer of Ctrip. "We have continued to strengthen the Ctrip brand, extending our market leadership by means of enhanced systems, diversified product offerings and elevated customer service. We believe our team is well positioned for future opportunities and challenges, and we are confident that the seeds planted today will lead to a fruitful future."

Business Outlook

For the third quarter of 2011, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Liquidity Requirements

Sun, 05 Jun 2011 04:00:00 GMT

We believe that our current cash and cash equivalents, our cash flow from operations and proceeds from our financing activities will be sufficient to meet our anticipated cash needs, including our cash needs for working capital and capital expenditures, for the foreseeable future.

Comments & Business Outlook

Tue, 17 May 2011 04:00:00 GMT

First Quarter Results:

Net revenues were RMB765 million (US$117 million) for the first quarter of 2011, up 30% year-on-year. In the first quarter of 2011, Wing On Travel and ezTravel contributed 7% for the year-on-year growth for net revenues.
Gross margin was 78% for the first quarter of 2011, remained consistent with that in the same period in 2010.
Income from operations was RMB263 million (US$40 million) for the first quarter of 2011, up 34% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB333 million (US$51 million), up 28% year-on-year.
Operating margin was 34% for the first quarter of 2011, compared to 33% in the same period in 2010. Excluding share-based compensation charges (non-GAAP), operating margin was 44%, remained consistent with that in the same period in 2010.
Net income attributable to Ctrip's shareholders was RMB235 million (US$36 million) in the first quarter of 2011, up 23% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB305 million (US$47 million), up 20% year-on-year.
Diluted earnings per ADS were RMB1.54 (US$0.24) for the first quarter of 2011. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.01 (US$0.31) for the first quarter of 2011.

"Following a successful 2010, the Ctrip team has once again achieved strong results in the first quarter of 2011," said Min Fan, Ctrip President and Chief Executive Officer. "Our team has worked diligently to extend our leadership and further gain market share through excellent customer service, strong strategic partnerships, the adoption of advanced technologies, and innovative value-added products. All of our hard work has empowered our team to make the most of the opportunities ahead of us."

For the second quarter of 2011, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 15%-20%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Comments & Business Outlook

Tue, 02 Nov 2010 04:00:00 GMT

Highlights for the Third Quarter of 2010

Net revenues wereRMB812 million (US$121 million) for the third quarter of 2010, up 49% year-on-year.

Gross margin was 78% for the third quarter of 2010, compared to 77% in the same period in 2009.

Income from operations wasRMB308 million (US$46 million) for the third quarter of 2010, up 55% year-on-year.

Excluding share-based compensation charges (non-GAAP), income from operations was RMB368 million (US$55 million), up 63% year-on-year.

Operating margin was 38% for the third quarter of 2010, compared to 37% in the same period in 2009.

Excluding share-based compensation charges (non-GAAP), operating margin was 45%, compared to 41% in the same period in 2009.

Net income attributable to Ctrip's shareholders was RMB320 million (US$48 million) in the third quarter of 2010, up 70% year-on-year.

Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB380 million (US$57 million), up 77% year-on-year. Diluted earnings per ADS wereRMB2.11(US$0.31)for the third quarter of 2010.

Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB2.50(US$0.37)for the third quarter of 2010.

Business Outlook

For the fourth quarter of 2010, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 30 35%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Comments & Business Outlook

Sun, 22 Aug 2010 04:00:00 GMT

Highlights for the Second Quarter of 2010:

Net revenues were RMB695 million (US$103 million) for the second quarter of 2010, up 46% year-on-year.
Gross margin was 78% for the second quarter of 2010, compared to 77% in the same period in 2009.
Income from operations was RMB257 million (US$38 million) for the second quarter of 2010, up 57% year-on-year.
Excluding share-based compensation charges (non-GAAP), income from operations was RMB316 million (US$47 million), up 66% year-on-year.
Excluding share-based compensation charges (non-GAAP), operating margin was 45%, compared to 40% in the same period in 2009.
Net income attributable to Ctrip's shareholders was RMB235 million (US$35 million) in the second quarter of 2010, up 48% year-on-year.
Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB293 million (US$43 million), up 58% year-on-year.
Diluted earnings per ADS were RMB1.55 (US$0.23) comared to RMB2.27 (US$0.33).
Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB1.93 (US$0.29) compared to RMB2.66 (US$0.39).

"We are pleased to announce solid results for the second quarter of 2010," said Min Fan, President and Chief Executive Officer of Ctrip. "Through our strong execution, we were able to extend our leadership in all business lines. Our presence in the Greater China region will enable us to provide excellent services to customers travelling abroad. The Ctrip team is well positioned to capture more opportunities in the travel industry in China."

Business Outlook:

For the third quarter of 2010, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 35-40%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

Non-GAAP EPS Figures exclude certain non-operating gains and losses as well as certain non-cash items. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information . For a more complete explanation of the company's definition of non-GAAP please refer to its financial press releases. The GeoTeam® non-GAAP figures may, from time to time, differ from company supplied figures. The GeoTeam® non-GAAP figures apply a 25% and 36% tax rate for Chinese and United States companies respectively.

Comments & Business Outlook

Wed, 05 Aug 2009 04:00:00 GMT

'We are pleased that our team once again delivered solid results in the second quarter of 2009. We strengthened our competitiveness despite the challenges that we faced during this period,' said Min Fan, Chief Executive Officer of Ctrip, 'We will continue to improve our customer service, to apply new technologies, and to broaden sales and marketing channels in order to extend our leadership.'

3rd Quarter 2009 Guidance Ending September ^a

	Full Year 2009 Guidance	Full Year 2008 Reported	Period Change
GAAP Revenue	$46.4 million	$58.0 million	25.0%

Source: See Release, August 4, 2009
^a The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

Comments & Business Outlook

Sun, 12 Apr 2009 04:00:00 GMT

'I am pleased that our team delivered solid results in the first quarter despite the difficult economy,' said Min Fan, Chief Executive Officer of Ctrip. 'Our strong execution in operations and prudent controls on cost enabled us to achieve healthy growth in profit. While the business environment remains uncertain, we will extend our leadership in the China travel industry through excellent customer service, strategic alliance with our partners, advanced IT technologies and innovative sales and marketing channels.'

2nd Quarter 2009 Guidance Ending June ^a

	2nd Quarter 2009 Guidance	2nd Quarter 2008 Reported	Period Change
GAAP Revenue	$49.7 to 47.6 million	$54.7 million	10% to 15%

Source: See Release, May 11, 2009
^a The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

Comments & Business Outlook

Sun, 08 Feb 2009 05:00:00 GMT

Guidance Report: (Non-China)

First Quarter Year 2009 Guidance Ending March

	2009 Guidance	2008 Reported	Period Change
Revenue	$51.45 to $53.9 million	$49 million	5% to 10%

'Despite the challenges in the travel industry in China, our team delivered a solid result in 2008. We strengthened our market leadership, enhanced our vendor relationship, elevated our customer service level, improved our operation efficiency, and achieved a steady revenue and earnings growth,' said Min Fan, Chief Executive Officer of Ctrip. 'In the near term, we remain cautious about the global economy. We will prudently manage our business and capitalize the opportunities ahead of us.'

Source: PR Newswire (February 8, 2009)

GeoTeam® Comment:

It appears that the revenue Guidance is above the analyst estimates we could locate.