BEIJING, Nov. 18, 2015 /PRNewswire/ -- SouFun Holdings
Limited (NYSE: SFUN) ("SouFun"), the leading real estate Internet
portal in China, announced today
its unaudited financial results for the three months ended
September 30, 2015.
Third Quarter 2015 Highlights
- Total Revenue increased by 30.4% year-on-year to
$248.5 million. Revenue from
e-commerce services increased by 111.0% year-on-year to
$142.6million.
- Operating loss was $31.8
million. Non-GAAP operating loss was
$30.6 million. A description of the
adjustments from GAAP to non-GAAP operating income is set forth
below.
- Net income attributable to SouFun's
shareholders was $1.4
million.
- Non-GAAP net loss attributable to SouFun's
shareholders was $31.9 million, a
$0.08 loss per fully-diluted earnings
ADS.
- GMV increased by 56% from $6.8 billion in the second quarter of 2015 to
$10.6 billion in the third quarter.
The following table shows GMV by quarter for the nine months of
2015.
GMV:
Q1-Q3, 2015 (in millions of US dollars)
|
|
|
|
|
|
Q2 vs
Q3 Variance
|
|
Q1
|
Q2
|
Q3
|
amount
|
%
|
New Home
*
|
1,281
|
3,441
|
4,580
|
1,139
|
33%
|
Secondary
Home
|
384
|
3,321
|
5,951
|
2,630
|
79%
|
Home
furnishing
|
4
|
23
|
56
|
33
|
143%
|
Total
|
1,669
|
6,785
|
10,587
|
3,802
|
56%
|
|
* Only
including direct sales services.
|
New Development
1. Close of Private Placement
On September 18, the Company
announced a $400-$700 million private
placement. By 9th November 2015, the
Company completed a total of $646.77
million from IDG Capital Partners and The Carlyle Group and
certain management members (mainly our Chairman and CEO
Vincent Mo) and their
affiliates.
2. Investment into Sindeo
On October 29, SouFun entered into
strategic investment agreements with Sindeo, Inc. with an aggregate
cash consideration amounts to approximately US$5 million.
Sindeo is a leading lender-paid online mortgage originator based
in San Francisco. Since 2014,
Sindeo has been providing a fair, transparent and modern mortgage
experience to home buyers and make mortgages simple. Sindeo is
transforming the experience to help consumers make smart, informed
decisions and get a stress-free mortgage.
3. Agreement to acquire a majority shareholdings of
WanLi
On November 13, the Company
entered into a framework agreement with Chongqing Wanli New Energy
Co., Ltd. ("Wanli"), a company listed on the Shanghai Stock
Exchange (stock code: 600847), IDG, Ruidong and Mr. Xicheng Liu to acquire a controlling stake in
Wanli's public shell, accompanied by a concurrent direct
placement(RMB2.5 billion to RMB5
billion) of Wanli shares to certain investors. SouFun plans
to maintain not less than 70% of the equity stake in Wanli
following the acquisition and direct share placement.
4. Agreement to acquire Beijing headquarters facilities
On November 8 , the board approved
the Company to purchase a headquarters establishment in
Beijing with a total price
around $243 million. The new headquarters establishment with a
total usable office space is around 70,000 square meters will
provide strong support to the fast expanding headcounts and
Beijing operations.
"We are very pleased as we were able to achieve over 111% growth
in our e-commerce sectors and over 30% total revenue growth in this
quarter," said Vincent Mo, Chairman
and CEO of Fang.com. "The Company's strategies of transforming to
transaction-oriented platforms including new, resale, rental homes
and home furnishing plus financial services are making things
happen. With our successful private placement and planned future
arrangement with China's financial
market, I am sure the Company is in a better position in
aggressively executing its transformations."
Third Quarter 2015 Results
Revenues
SouFun reported total revenues of $248.5
million for the three months ended September 30, 2015, representing an increase of
30.4% from $190.5 million for the
corresponding period in 2014, primarily driven by the growth in
e-commerce services, partially offset by the decline in marketing
services and listing services.
Revenue from marketing services was $65.6
million for the three months ended September 30, 2015, a decrease of 19.0% from
$81.0 million for the corresponding
period in 2014, primarily due to fewer customers in the market and
fewer average amount per advertising contract.
Revenue from e-commerce services was $142.6 million for the three months ended
September 30, 2015, a 111.0% increase
from $67.6 million for the same
period in 2014, primarily due to the growth of the direct sales
services for new home and the growth of the real estate brokerage
services for secondary home, as well as rapid growth of the home
decorating services.
Revenue from listing services was $27.4
million for the three months ended September 30, 2015, a decrease of 25.3% from
$36.7 million for the corresponding
period in 2014, primarily due to our reduction of unit price per
paying subscriber.
Revenue from Internet financial services was $6.4 million for the three months ended
September 30, 2015, an increase of
545.3% from $1.0 million for the
corresponding period in 2014. SouFun began to offer Internet
financial services in August 2014. We
extracted revenue from financing services from other value-added
services, to show this is a separate revenue source starting from
the first quarter of 2015.
Revenue from other value-added services was $6.5 million for the three months ended
September 30, 2015, an increase of
51.2% from $4.3 million for the
corresponding period in 2014, primarily due to the rapid growth of
our research related products.
Cost of Revenue
Cost of revenue was $188.5 million
for the three months ended September 30,
2015, an increase of 286.0% from $48.8 million for the corresponding period in
2014. The increase in cost of revenue was mainly attributable to
increased staff. In addition, increased e-commerce cost including
potion of proceeds remitted to real estate brokers and subsidies to
home buyers related to E-commerce services, and increased
decorating cost related to the home decorating services also
contributed to the increase in cost of revenues.
Gross margin was 24.2% for the three months ended September 30, 2015, compared to 74.4% for the
corresponding period in 2014.
Operating Expenses
Operating expenses were $91.8
million for the three months ended September 30, 2015, an increase of 29.0 % from
$71.2 million for the corresponding
period in 2014.
Selling expenses were $52.8
million for the three months ended September 30, 2015, an increase of 28.8% from
$41.0 million for the corresponding
period in 2014, primarily due to increased expenses paid to our
marketing agents for SouFun membership services, and
increased advertising and promotional expenses.
General and administrative expenses were $39.0 million for the three months ended
September 30, 2015, an increase of
29.1% from $30.2 million for the
corresponding period in 2014, primarily due to increased staff cost
and increased rental expenses.
Operating Income/Loss
Operating loss was $31.8 million
for the three months ended September 30,
2015, compared to operating income of $70.7 million for the corresponding period in
2014.
Income Tax Benefit/Expenses
Income tax benefit was $29.2
million for the three months ended September 30, 2015, compared to income tax
expenses of $18.9 million for the
corresponding period in 2014. The income tax benefit was
primarily due to the reversal of withholding tax arising from the
undistributed earnings.
Net Income/Loss and EPS
Net Income attributable to SouFun's shareholders was
$1.4 million for the three months
ended September 30, 2015, compared to
net income $61.0 million for the
corresponding period in 2014. $0.02
and nil per fully-diluted ordinary share and ADS, respectively, for
the three months ended September 30,
2015, compared to $0.68 and
$0.14 for the corresponding period in
2014.
Adjusted EBITDA
Adjusted EBITDA, defined as non-GAAP net income before
income taxes, interest expenses, interest income, depreciation and
amortization, was $24.3 million loss
for the three months ended September 30,
2015, compared to $78.3
million for the corresponding period in 2014.
Cash
As of September 30, 2015, SouFun
had cash, cash equivalents, and short-term investments of
$622.0 million, compared to
$533.6 million as of June 30, 2015. Net cash used in operating
activities was $83.2 million for the
three months ended September 30,
2015, compared to net cash generated from operating
activities was $53.2 million for the
same period in 2014. The decline in cash flows from operating
activities was primarily due to a $59.6
million decrease of net income as compared to the third
quarter of 2014, and a $72.6 million
decrease in cash flows due to an increase of loans provided to home
buyers under our internet financial services program.
Business Outlook
SouFun remains its revenue guidance for 2015 at $843.4 million, representing a year-on-year
increase of 20%. This forecast reflects SouFun's current and
preliminary view, which is subject to change.
Conference Call Information
SouFun's management team will host a conference call on
November 18, 2015 at 8:00 AM U.S. EST (9:00
PM Beijing / Hong Kong
time). The dial-in details for the live conference call are:
The dial-in details for the live conference call are:
International
Toll:
|
+65
6713-5090
|
Local
Toll:
|
United
States
|
+1 845-675-0437/+1
866-519-4004
|
Hong Kong
|
+852
3018-6771/800-906-601
|
Mainland
China
|
+86 400-620-8038 /
+86 800-819-0121
|
Passcode:
|
SFUN
|
A telephone replay of the call will be available after the
conclusion of the conference call from 00:00
AM HKT on November 19 through
23:59 PM HKT November 26, 2015. The dial-in details for the
telephone replay are:
International
Toll:
|
+61
2-8199-0299
|
Toll-Free:
|
|
United
States
|
+1 855-452-5696 / +1
646-254-3697
|
Hong
Kong
|
+852 800-963-117 /
+852 3051-2780
|
Mainland
China
|
+86 400-602-2065 /
+86 800-870-0205
|
Conference ID
number:
|
76430800
|
A live and archived webcast of the conference call will be
available on SouFun's website at http://ir.fang.com.
About SouFun
SouFun operates the leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites and mobile apps in
2014. Through its websites and mobile apps, SouFun provides
marketing, e-commerce, listing, finance and other value-added
services for China's real estate
and home-related sectors. SouFun's Internet portal and mobile apps
are highly focused on user experience, and support SouFun's users
in seeking information on the real estate and home-related sectors
in China. SouFun currently
maintains about 100 offices to focus on local market needs and its
websites, mobile apps and database contain real estate related
content covering more than 370 cities in China. For more information about SouFun,
please visit http://ir.fang.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995.
These forward-looking statements can be identified by
terminology such as "will," "expects," "is expected to,"
"anticipates," "aim," "future," "intends," "plans," "believes,"
"are likely to," "estimates," "may," "should" and similar
expressions. Such forward-looking statements include, without
limitation, statements regarding business momentum, the
transition to a transaction oriented platform and confidence in
strategy, the success of various business strategies in the short
and long-term, conditions in the PRC real estate market and the
success of SouFun's strategic and operational plans and focus,
continued growth of the transactions and ecommerce businesses, the
impact of increased expenses, the impact of government policies and
conditions in China's real estate
and home furnishings market. Statements that are not historical
facts, including statements about SouFun's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially
from those contained in any forward-looking statement. Potential
risks and uncertainties include, but are not limited to, the impact
of the slowdown in the PRC real estate market on SouFun and the
impact on revenues of our existing and new service fees reductions,
the ability of SouFun to retain real estate listing agencies as
customers during challenging economic periods, the success of
SouFun's new business initiatives, the ability of SouFun to manage
its operating expenses, the impact of, measures taken or to
be taken by the Chinese government to control real estate growth
and prices and other events which could occur in the future,
economic challenges in China's
real estate market, the impact of competitive market conditions for
our services, our ability to maintain and increase our leadership
in China's home related internet
sector, the uncertain regulatory landscape in China, fluctuations in our quarterly operating
results, our continued ability to execute business strategies
including our SouFun membership services and SouFun Online Shop,
our ability to continue to expand in local markets, our reliance on
online advertising sales and listing services and transactions for
our revenues, any failure to successfully develop and expand our
content, service offerings and features, including the success of
new features to meet evolving market needs, and the technologies
that support them, the quality of the loans we originate and resell
and the performance of those loans in the future, our ability to
successfully service and process customer loans for our own benefit
and for the purchasers of those loans and, should we in the future
make acquisitions, any failure to successfully integrate acquired
businesses.
Further information regarding these and other risks and
uncertainties is included in our annual report on Form 20-F and
other documents we have filed with the U.S. Securities and Exchange
Commission. SouFun does not assume any obligation to update any
forward-looking statements in this release and elsewhere, which
apply only as of the date of this press
release.
About Non-GAAP Financial Measures
To supplement SouFun's consolidated financial results presented
in accordance with United States Generally Accepted Accounting
Principles ("GAAP"), SouFun uses in this press release the
following measures defined as non-GAAP financial measures by the
United States Securities and Exchange Commission: (1) non-GAAP
operating income, (2) non-GAAP net income and (3) non-GAAP basic
and diluted earnings per ordinary share and (4) adjusted EBITDA.
The presentation of the non-GAAP financial information is not
intended to be considered in isolation or as a substitute for the
financial information prepared and presented in accordance with
GAAP. For more information on these non-GAAP financial measures,
please see the table captioned "Reconciliation of GAAP and non-GAAP
Results" set forth at the end of this press release.
SouFun believes that these non-GAAP financial measures provide
meaningful supplemental information to investors regarding its
operating performance by excluding share-based compensation
expenses and the related tax effects, realized gain on
available-for-sale security, interest income and expenses, income
tax expenses, and depreciation expense for the three months ended
September 30, 2015, which (1) may not
be indicative of SouFun's recurring core business operating results
or (2) are not expected to result in future cash payments. These
non-GAAP financial measures also facilitate management's internal
comparisons to SouFun's historical performance and assist its
financial and operational decision making. A limitation of using
these non-GAAP financial measures is that share-based compensation,
interest income and expenses, income tax expenses, and depreciation
expenses have been and will continue to be a significant recurring
expense that will continue to exist in SouFun's business for the
foreseeable future. Management compensates for these limitations by
providing specific information regarding the GAAP amounts excluded
from each non-GAAP measure. The accompanying tables have more
details on the reconciliation between non-GAAP financial measures
and their most directly comparable GAAP financial measures.
For investor and media inquiries, please contact:
Mr. Cangsang Huang
Deputy CFO
Phone: +86-10-5631-9668
Email: huangcangsang@soufun.com
SouFun Holdings
Limited
|
Condensed
Consolidated Balance Sheets
|
(in thousands of
U.S. dollars, except share data and per share data )
|
|
ASSETS
|
|
September
30,
|
|
December
31,
|
|
2015
|
2014
|
Current
assets:
|
|
|
(Unaudited)
|
|
|
(Audited)
|
|
Cash and cash
equivalents
|
|
|
516,167
|
|
|
354,760
|
|
Restricted cash,
current
|
|
|
184,719
|
|
|
97,988
|
|
Short-term
investments
|
|
|
105,843
|
|
|
455,184
|
|
Accounts receivable,
net
|
|
|
120,799
|
|
|
49,691
|
|
Funds
receivable
|
|
|
42,858
|
|
|
62,163
|
|
Prepayment and other
current assets
|
|
|
49,851
|
|
|
30,161
|
|
Commitment
deposits
|
|
|
17,049
|
|
|
47,312
|
|
Loan receivable,
current
|
|
|
244,293
|
|
|
79,641
|
|
Amount due from
related parties
|
|
|
365
|
|
|
-
|
|
Deferred tax assets,
current
|
|
|
3,831
|
|
|
2,991
|
Total current
assets
|
|
|
1,285,775
|
|
|
1,179,891
|
Non-current
assets:
|
|
|
|
|
|
|
|
Property and
equipment, net
|
|
|
220,223
|
|
|
217,105
|
|
Prepaid land lease
payments
|
|
|
794
|
|
|
-
|
|
Loan receivable,
non-current
|
|
|
40,970
|
|
|
2,009
|
|
Restricted cash,
non-current
|
|
|
-
|
|
|
109,495
|
|
Deferred tax assets,
non-current
|
|
|
1,362
|
|
|
1,570
|
|
Deposit for
non-current assets
|
|
|
102,648
|
|
|
86,515
|
|
Long-term
investments
|
|
|
234,070
|
|
|
121,292
|
|
Prepayment for
business acquisition
|
|
|
9,806
|
|
|
9,806
|
|
Other non-current
assets
|
|
|
7,007
|
|
|
16,556
|
Total non-current
assets
|
|
|
616,880
|
|
|
564,348
|
Total
assets
|
|
|
1,902,655
|
|
|
1,744,239
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
Short-term
loans
|
|
|
172,750
|
|
|
80,750
|
|
Deferred
revenue
|
|
|
110,342
|
|
|
119,042
|
|
Accrued expenses and
other liabilities
|
|
|
318,118
|
|
|
221,901
|
|
Income tax
payable
|
|
|
4,817
|
|
|
35,394
|
|
Customers' refundable
fees
|
|
|
80,184
|
|
|
42,392
|
|
Amounts due to a
related party
|
|
|
-
|
|
|
660
|
Total current
liabilities
|
|
|
686,211
|
|
|
500,139
|
Non-current
liabilities:
|
|
|
|
|
|
|
|
Long-term
loans
|
|
|
-
|
|
|
100,000
|
|
Convertible senior
notes
|
|
|
500,000
|
|
|
400,000
|
|
Deferred tax
liabilities, non-current
|
|
|
78,178
|
|
|
111,026
|
|
Other non-current
liabilities
|
|
|
350
|
|
|
385
|
Total non-current
liabilities
|
|
|
578,528
|
|
|
611,411
|
Total
Liabilities
|
|
|
1,264,739
|
|
|
1,111,550
|
|
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
|
|
Class A ordinary
shares, par value Hong Kong Dollar
("HK$") 1 per share, 600,000,000 shares
authorized
for Class A and Class B in aggregate,
and
62,071,190 shares and 58,364,924 shares
issued
and outstanding as at September 30, 2015 and
December 31, 2014, respectively
|
|
|
7,973
|
|
|
7,495
|
|
Class B ordinary
shares, par value HK$1 per share,
600,000,000 shares authorized for Class A and
Class
B in aggregate, and 24,336,650
shares and
24,336,650 shares issued and outstanding as
at
September 30, 2015 and December 31, 2014 ,
respectively
|
|
|
3,124
|
|
|
3,124
|
|
Additional paid-in
capital
|
|
|
207,074
|
|
|
101,072
|
|
Accumulated other
comprehensive income
|
|
|
6,701
|
|
|
49,566
|
|
Retained
earnings
|
|
|
412,279
|
|
|
471,352
|
Total SouFun
Holdings Limited shareholders' equity
|
|
|
637,151
|
|
|
632,609
|
|
Noncontrolling
interests
|
|
|
765
|
|
|
80
|
Total
equity
|
|
|
637,916
|
|
|
632,689
|
TOTAL LIABILITIES
AND EQUITY
|
|
|
1,902,655
|
|
|
1,744,239
|
SouFun Holdings
Limited
|
Condensed
Consolidated Statements of Comprehensive Income
|
( in thousands of
U.S. dollars, except share data and per share data)
|
|
|
|
Three months
ended
|
|
|
|
September
30,
|
September
30,
|
|
|
2015
|
2014
|
|
|
|
(Unaudited)
|
(Unaudited)
|
|
Revenues:
|
|
|
|
|
|
Marketing services
|
|
65,604
|
|
80,971
|
|
E-commerce services
|
|
142,576
|
|
67,567
|
|
Listing services
|
|
27,406
|
|
36,678
|
|
Financial services
|
|
6,376
|
|
988
|
|
Other value-added
services
|
|
6,546
|
|
4,328
|
|
Total
revenues
|
|
248,508
|
|
190,532
|
|
|
|
|
|
|
|
Cost of
Revenues:
|
|
|
|
|
|
Cost of services
|
|
(188,462)
|
|
(48,831)
|
|
Total Cost of
Revenues
|
|
(188,462)
|
|
(48,831)
|
|
|
|
|
|
|
|
Gross
Profit
|
|
60,046
|
|
141,701
|
|
|
|
|
|
|
|
Operating expenses
and income:
|
|
|
|
|
|
Selling expenses
|
|
(52,819)
|
|
(41,021)
|
|
General and
administrative expenses
|
|
(38,966)
|
|
(30,175)
|
|
Other income
|
|
5
|
|
180
|
|
Operating
Income
|
|
(31,734)
|
|
70,685
|
|
Foreign exchange gain
(loss)
|
|
86
|
|
3
|
|
Interest income
|
|
4,680
|
|
10,071
|
|
Interest expense
|
|
(3,927)
|
|
(4,060)
|
|
Investment
income
|
|
660
|
|
-
|
|
Government
grants
|
|
2,405
|
|
3,234
|
|
Income before
income taxes and
noncontrolling interests
|
|
(27,830)
|
|
79,934
|
|
Income tax
expenses
|
|
|
|
|
|
Income
tax expenses
|
|
29,230
|
|
(18,941)
|
|
Net
income
|
|
1,400
|
|
60,992
|
|
Net
income attributable to
noncontrolling interests
|
|
(5)
|
|
-
|
|
Net income
attributable to SouFun
Holdings Limited shareholders
|
|
1,405
|
|
60,992
|
|
Other
comprehensive income, net of tax
|
|
|
|
|
|
Foreign currency
Translation
|
|
(34,180)
|
|
(2,391)
|
|
Unrealized gain on
available-for-sale security
|
|
(23,085)
|
|
12,562
|
|
Total other
comprehensive income, net of tax
|
|
(57,265)
|
|
10,171
|
|
Comprehensive
income
|
|
(55,865)
|
|
71,163
|
|
Earnings per share
for Class A and
Class B ordinary shares
|
|
|
|
|
|
Basic
|
|
0.02
|
|
0.74
|
|
Diluted
|
|
0.02
|
|
0.68
|
|
Earnings per
ADS
|
|
|
|
|
|
Basic
|
|
-
|
|
0.15
|
|
Diluted
|
|
-
|
|
0.14
|
|
Weighted average
number of Class A
and Class B ordinary shares
outstanding:
|
|
|
|
|
|
Basic
|
|
83,215,146
|
|
82,258,420
|
|
Diluted
|
|
90,617,966
|
|
93,396,601
|
|
Weighted average
number of ADSs
outstanding:
|
|
|
|
|
|
Basic
|
|
416,075,730
|
|
411,292,102
|
|
Diluted
|
|
453,089,830
|
|
466,983,005
|
|
|
|
|
|
|
|
SouFun Holdings
Limited
|
Reconciliation of
GAAP and Non-GAAP Results
|
(in thousands of
U.S. dollars, except share data and per share data)
|
|
|
|
Three months
ended
|
|
|
|
September
30,
|
|
September
30,
|
|
|
2015
|
|
2014
|
|
GAAP income from
operations
|
|
|
(31,734)
|
|
|
70,685
|
|
Share-based
compensation expense
|
|
|
1,125
|
|
|
1,478
|
|
Non-GAAP income from
operations
|
|
|
(30,609)
|
|
|
72,163
|
|
|
|
|
|
|
|
|
|
GAAP net
income
|
|
|
1,400
|
|
|
60,992
|
|
One-off tax
benefit
|
|
|
(30,578)
|
|
|
-
|
|
Withholding tax
related to dividends
|
|
|
(3,146)
|
|
|
7,250
|
|
Investment
income
|
|
|
(660)
|
|
|
-
|
|
Share-based
compensation expense
|
|
|
1,125
|
|
|
1,478
|
|
Non-GAAP net
income
|
|
|
(31,859)
|
|
|
69,720
|
|
|
|
|
|
|
|
|
|
Net Income
attributable to SouFun shareholders
|
|
|
1,405
|
|
|
60,992
|
|
One-off tax
benefit
|
|
|
(30,578)
|
|
|
-
|
|
Withholding tax
related to dividends
|
|
|
(3,146)
|
|
|
7,250
|
|
Investment
income
|
|
|
(660)
|
|
|
-
|
|
Share-based
compensation expense
|
|
|
1,125
|
|
|
1,478
|
|
Non-GAAP net Income
attributable to
SouFun Holdings Limited shareholders
|
|
|
(31,854)
|
|
|
69,720
|
|
|
|
|
|
|
|
|
|
GAAP earnings per
share for Class A and
Class B ordinary shares:
|
|
|
|
|
|
|
|
Basic
|
|
|
0.02
|
|
|
0.74
|
|
Diluted
|
|
|
0.02
|
|
|
0.68
|
|
GAAP earnings per
ADS:
|
|
|
|
|
|
|
|
Basic
|
|
|
-
|
|
|
0.15
|
|
Diluted
|
|
|
-
|
|
|
0.14
|
|
Non-GAAP earnings
per share for Class A and
Class B ordinary shares:
|
|
|
|
|
|
|
|
Basic
|
|
|
(0.38)
|
|
|
0.85
|
|
Diluted
|
|
|
(0.38)
|
|
|
0.78
|
|
Non-GAAP earnings
per ADS:
|
|
|
|
|
|
|
|
Basic
|
|
|
(0.08)
|
|
|
0.17
|
|
Diluted
|
|
|
(0.08)
|
|
|
0.16
|
|
Weighted average
number of Class A and
Class B ordinary shares
outstanding:
|
|
|
|
|
|
|
|
Basic
|
|
|
83,215,146
|
|
|
82,258,420
|
|
Diluted
|
|
|
90,617,966
|
|
|
93,396,601
|
|
Weighted average
number of ADSs outstanding:
|
|
|
|
|
|
|
|
Basic
|
|
|
416,075,730
|
|
|
411,292,102
|
|
Diluted
|
|
|
453,089,830
|
|
|
466,983,005
|
|
SouFun Holdings
Limited
|
Reconciliation of
Non-GAAP and Adjusted EBITDA
|
(in thousands of
U.S. dollars)
|
|
|
|
Three months
ended
|
|
|
|
|
September
30,
|
|
September
30,
|
|
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
Non-GAAP
Net
income
|
|
|
(31,859)
|
|
|
69,720
|
|
Add back:
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
3,927
|
|
|
4,060
|
|
Income tax
expenses
|
|
|
4,494
|
|
|
11,691
|
|
Depreciation
expenses
|
|
|
3,813
|
|
|
2,881
|
|
Subtract:
|
|
|
|
|
|
|
|
Interest
income
|
|
|
(4,680)
|
|
|
(10,071)
|
|
Adjusted
EBITDA
|
|
|
(24,305)
|
|
|
78,281
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/soufun-announces-third-quarter-2015-results-300180939.html
SOURCE SouFun Holdings Limited