SINA Corporation (Nasdaq: SINA), a leading online media company and mobile value-added service (“MVAS”) provider for China and for the global Chinese communities, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2010.
Starting in the fourth quarter of 2009, in addition to the disclosure of GAAP results below, SINA’s historical revenues and certain non-GAAP measures (namely, gross profit, operating expenses, income from operations and advertising gross margin) have been revised to exclude results from China Online Housing Technology Corporation (“COHT”), adjusted for the impact of the amended and restated advertising agency agreement on a pro forma basis as if the agreement had been effective at the beginning of the periods presented.
These adjustments were made to reflect SINA injecting its online real estate advertising business into its majority-owned subsidiary COHT and exchanging its interest in COHT for approximately 33% interest in China Real Estate Information Corporation (“CRIC”) upon the successful listing of CRIC on the NASDAQ Global Select Market in October 2009 (“CRIC Transaction”).
Non-GAAP measures are described below and reconciled to the corresponding GAAP measures in the section below titled “Unaudited Reconciliation of Non-GAAP to GAAP Results”.
Like this content? Sign up for our daily newsletter to get latest updates.