E-Commerce China DangDang Inc. Earnings: Falls in Line with Estimates
E-Commerce China DangDang Inc. (NYSE:DANG) reported its results for the first quarter. E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in the Peoples Republic of China. The company, through its Website, dangdang.com, sells Chinese and foreign language books, music CDs, VCDs, and DVDs
E-Commerce China DangDang Earnings Cheat Sheet for the First Quarter
Results: Net income for the company was $469,000 (0 cents/share).
Actual vs. Wall St. Expectations DANG fell in line with the mean analyst estimate of breaking even. Estimates ranged from a loss of one cent per share to a profit of one cent per share.
Quoting Management: “I am pleased to report strong first quarter results. In a highly competitive environment we managed to grow revenues in the first quarter of 2011 by 53.4% year-over-year. General merchandise grew at an accelerated pace compared with last fiscal year. We continue to strengthen our market leadership in media and increase our market share in general merchandise in the first quarter of 2011,” said Ms. Peggy Yu Yu, Dangdang’s Executive Chairwoman.
Competitors to Watch: Amazon.com, Inc. (NASDAQ:AMZN), eBay Inc. (NASDAQ:EBAY), Mecox Lane Limited ADR (NASDAQ:MCOX),Youku.com(NYSE:YOKU), Liquidity Services, Inc. (NASDAQ:LQDT), Gaiam, Inc. (NASDAQ:GAIA), PC Connection, Inc. (NASDAQ:PCCC), PC Mall, Inc. (NASDAQ:MALL), Changyou.com (NASDAQ:CYOU), and Renren Inc (NYSE:RENN).
Stock Performance: Shares of DANG are up 8.5% from the previous close of $20.27.