April 19, 2000 04:15 PM Eastern Time
SAN FRANCISCO--(BUSINESS WIRE)--April 19, 2000--
Company's Leading Market Position Translates into New Software & Internet Infrastructure Contract Wins
AsiaInfo Holdings, Inc. ASIA , a leading provider of total Internet infrastructure solutions and software products in China, today announced results for the quarter ended March 31, 2000.
The company reported net revenues of US$5.5 million in the first quarter, representing a 77% increase over net revenues of US$3.1 million for the same period in 1999. Software revenues for the quarter were US$1.8 million, representing 33% of total net revenues and a 33% increase over the same period in 1999. Network solutions revenues were US$3.7 million, an increase of 118% over the same quarter of 1999. Gross revenues were US$22.9 million during the first quarter, a 340% increase over gross revenues of US$5.2 million of the same quarter last year. Net loss per share was $0.16 for the first quarter of 2000, compared to a net loss of $0.14 per share in the same quarter of 1999.
The strong growth in net revenues was primarily attributable to increased demand for software products and services as well as the expansion of infrastructure solutions projects in progress. This software revenue increase was partly driven by the release of newer versions of Internet billing and messaging software. Gross revenues increased significantly, primarily due to several large network solutions projects.
"We are extremely proud to report the results of our first quarter as a public company," said James Ding, CEO. "This has been a great quarter for both AsiaInfo and the Chinese Internet sector. We have won a significant number of new contracts in both the Internet infrastructure and software sectors against global competitors. These contract wins clearly demonstrate AsiaInfo's solid momentum in the rapidly growing China Internet market. At the end of this quarter, we have US$75 million in backlog orders of which US$30 million is net of hardware costs." |
