Boston, MA 03/03/2014 (wallstreetpr) – The China based E Commerce China Dangdang Inc (ADR) (NYSE:DANG), a leading business to customer e-commerce company, reported unaudited financial results for the fourth quarter 2013 and fiscal year ended Dec 31, 2013.
Fourth Quarter And Full Year 2013 Results
Net income for the reported quarter was a record $3.6 million which represents 1.1% of its net revenues. This compares with the net loss of RMB122.1 million in the same quarter of the previous year, which represented negative 7.6% of its total net revenues. In the third quarter of 2013, it had reported a net loss of RMB27.9 million, which represented negative 1.8% of its total net revenues.
E Commerce China Dangdang Inc (ADR) (NYSE:DANG)’s Gross margin for the fourth quarter 2013 was 17.6%, up from previous year’s 13.4%, same as third quarter 2013. Gross Merchants Value or GMV of the marketplace was $230.3 million which means an increase of 154.2% as compared to the same period of the previous year. E Commerce China Dangdang Inc (ADR) (NYSE:DANG) had as many as 8.9 million active customers, including around 3.1 million new ones this quarter. This represents 18% and 21% increase, respectively from the same period of the prior year. Total orders for the quarter were around 18.1 million, which marks a 13% increased as compared to the fourth quarter of 2012.
Total net revenues in the financial year 2013 were $1,044.8 million which means an increase of 21.8% as compared to 2012. GMV of the marketplace in the financial year 2013 was $617.2 million which means an increase of 172.1% from 2012.
E Commerce China Dangdang Inc (ADR) (NYSE:DANG)’s Chief Executive Officer, Peggy Yu Yu said that the fourth quarter of 2013 marks a return to profitability for the company. He said with their commitment to better financial performances, he aims to transform it from an online bookstore to an online shopping mall which would aim at mid to high end customers. He said that the company plans to grow general merchandise in 2014, both through their third party market place as well through their primary business.