Shares of 51job rally on financial results
51job, Inc. (NASDAQ: JOBS), a leading provider of integrated human resource services in China, announced on August 10 its unaudited financial results for the second quarter of 2012 ended June 30, 2012.
Total revenues increased 8.4% over Q2 2011 to $56.7 million.
Online recruitment services revenues were $37.1 million, representing a 17.6% increase from the same quarter of the prior year. The growth was primarily due to an increase in the number of unique employers using the company’s online recruitment services as well as higher average revenue per unique employer.
Print advertising revenues were down 57.3% to $3.5 million primarily due to the ongoing shift in secular demand away from print advertising services.
Other human resource related revenues increased 27.9% from the same quarter of 2011 to $16.1 million, primarily due to greater market demand for its business process outsourcing and training services.
Gross profit in Q2 increased 10.7% from the same quarter of the prior year to $39.5 million. Gross margin expanded to 72.6% inQ2 compared with 71.8% in Q2 2011 primarily due to greater economies of scale.
Income from operations increased 8.8% to $18.6 million. Operating margin was 34.3% in Q2. Net income increased 37.3% to $18.0 million.
Shares of 51job rose 21.31% to $43.84 apiece after the Q2 results were released.