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Wednesday, May 14, 2008

Fexon Technology Ltd: 51job better-than-expected Q1

Fexon Technology Ltd reports: Early this morning, 51job (Nasdaq: JOBS) announced unaudited first-quarter earnings reports. Choi reported that the first quarter of the total revenue of 236.4 million yuan (about 33.7 million U.S. dollars), exceeding the company had income of 220 million to 230 million yuan expected, but over the same period last year net profit 32.2 million yuan A decrease of 30.8 percent, to 22.2 million yuan (about 3.2 million U.S. dollars). 51job also announced that company co-founder LU Nan for personal reasons will be the end of May to resign.

51job Q1 key performance:

The first quarter of the total revenue of 236.4 million yuan (about 33.7 million U.S. dollars), up 17.9 percent, more than the company had expected 220 million yuan to 230 million yuan.

First quarter gross margin was 55.7 percent, higher than the 55.2 percent the same period last year.

First quarter net income was 22.2 million yuan (about 3.2 million U.S. dollars), down 30.8 percent.

First quarter fully diluted per common share profit of 0.39 yuan; (
Fexon Technology Ltd)

Excluding share-based expenses and loss on exchange (not in accordance with generally accepted accounting principles), 51job first-quarter adjusted per ordinary share fully diluted earnings of 0.68 yuan, the company had expected more than the 0.42 yuan to 0.52 yuan.

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