HomeChina Stock News Ninetowns Q2, ’07 profit down on sluggish B2B software sales
Ninetowns Q2, ’07 profit down on sluggish B2B software sales
Written by Administrator
Friday, 04 January 2008
BEIJING, Jan. 3 (InfoChina) – Ninetowns Internet Technology Group Co., Ltd. (NINE.NASDAQ) has reported a net loss of 1.7 million US dollars for the second quarter of 2007, mirroring the company’s declining B2B software sales.
At the same period in 2006, the company realized a profit of 2.3 million dollars.
In the quarter ended June 30, 2007, the company’s revenue amounted to 3.1 million dollars, down 40.7 percent year on year.
Its net income from software development services was 600,000 dollars, and that from enterprise software sales, 2.5 million dollars.The latter accounted for 79. 4 percent of the company’s total net income, down 0.6 percentage point year on year.
The gross profit of the company was 2.5 million dollars in this quarter, representing a 49.3 percent decline year on year, and its gross margin was 79 percent, 13.4 percentage points lower year on year. (Edited by Wei Wei,
)
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