51job reports 63.4% rise in net income

Distributed by www.chinaknowledge.com

51job Inc., an integrated provider of human resource services in China, today announced a 63.4% rise in its net income for the second quarter of this year to RMB 26 million.

Revenue for the company also rose to RMB 173.4 million, a 17.6% rise over RMB 147.4 million achieved in the second quarter of 2005, in line with the guidance range of between RMB 170 million and RMB 180 million. Fully diluted earnings per common share stood at RMB 0.46 at the top end of company guidance.

ìWe are pleased that second quarter results came in within our expectations,î President and CEO Rick Yan said in a conference call discussing the results.

ìOur quarter two performance was driven primarily by continued growth of our online recruitment services business. Over the past year, we have seen higher employer awareness and usage of online recruitment services. We believe this has been due to a number of factors including greater advertising spending by industry players, growth in the number of Internet users in China and increased user acceptance of online media for recruitment,î Yan added.

The company also released revenue guidance for the third quarter of 2006 of between RMB 173 million and RMB 183 million.

Excluding share-based compensation expense and any foreign currency translation losses or gains, the companyís non-GAAP fully diluted earnings for the third quarter are estimated to be in the range of RMB 0.50 to RMB 0.60 per common share.

Aggregate share-based compensation is expected to be approximately RMB 8 million.

51job is a human resource service provider in China that runs print advertisements in its 51job Weekly newsletter, and offers online recruitment through www.51job.com. The company also provides training, business process outsourcing, and salary surveys. Its office network spans 25 cities in China and Hong Kong.

Distributed by www.chinaknowledge.com