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November 21, 2010

CDC Q3 revenue increases marginally to $78.4m

Posts Q3 gross profit of $35.3m

By CBR Staff Writer

CDC Corp, an enterprise software, IT services and new media company, has reported revenue of $78.4m for the third quarter of 2010, a marginal increase of 2% compared to $77m for the same period last year.

The company’s operating loss for the third quarter was $3.1m, compared to an operating loss of $2m for the same period last year.

The company has posted a gross profit of $35.3m and gross profit margin of 45% for the quarter, compared to gross profit of $33.2m and gross profit margin of 43% for the same period last year.

For the third quarter ended September 30, 2010, the company posted a net loss attributable to controlling interest of $6.1m compared to a net income attributable to controlling interest of $5.6m in the third quarter of 2009.

CDC global services CEO CK Wong said the company is making significant progress in expanding their business in China with the recent opening of the Foshan Cloud Computing Center, as well as the launch of the new practices announced last quarter.

"We also plan to open up new offices in Nanjing and Foshan and a new consulting joint venture in Beijing in the next few months," said Wong.

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