BEIJING, Aug. 25, 2016 /PRNewswire/ -- SouFun Holdings
Limited (NYSE: SFUN) ("we," "our," or "Fang"), the leading real
estate Internet portal in China,
announced today its unaudited financial results for the three
months ended June 30, 2016.
Second Quarter 2016 Highlights
- Total Revenue increased by 34.2% year-on-year to
$287.0 million. Revenue from
e-commerce services increased by 77.4% year-on-year to $189.5 million.
- Operating loss was $32.8
million. Non-GAAP operating loss was $30.3 million. A description of the adjustments
from GAAP to non-GAAP operating loss is detailed in the
Reconciliation Statement following this earnings release.
- Net loss attributable to Fang's shareholders was
$40.6 million. Fully diluted loss per
ADS was $0.09.
- Non-GAAP net loss attributable to Fang's shareholders
was $39.5million. Non-GAAP fully
diluted loss per ADS was $0.08. A
description of the adjustments from GAAP to non-GAAP net loss
attributable to Fang's shareholders and fully diluted loss per ADS
is detailed in the Reconciliation Statement following this earnings
release.
- GMV increased by 68% from $6.8
billion in the second quarter of 2015 to $11.4 billion in the second quarter. The
following table shows GMV by quarter for the periods
indicated.
GMV: Q2 2016 (in millions of US dollars)
|
|
|
|
|
|
|
2016Q2 &
2015Q2
Variance
|
|
2015Q1
|
2015Q2
|
2015Q3
|
2015Q4
|
2016Q1
|
2016Q2
|
Amount
|
%
|
New Home
*
|
1,281
|
3,441
|
4,580
|
5,644
|
3,406
|
3,879
|
438
|
13%
|
Secondary
Home
|
384
|
3,321
|
5,951
|
7,860
|
9,311
|
7,482
|
4,161
|
125%
|
Total
|
1,665
|
6,762
|
10,531
|
13,504
|
12,717
|
11,361
|
4,599
|
68%
|
* Only includes direct sales services.
First Half 2016 Highlights
- Total Revenue increased by 44.6% year-on-year to
$491.6 million. Revenue from
e-commerce services increased by 102.3% year-on-year to
$320.4million.
- Operating loss was $142.8
million. Non-GAAP operating loss was
$138.4 million. A description of the
adjustments from GAAP to non-GAAP operating loss is set forth
below.
- Net loss attributable to Fang's
shareholders was $154.3
million. Fully diluted loss per ADS was $0.32.
- Non-GAAP net loss attributable to Fang's
shareholders was $151.3 million.
Non-GAAP fully diluted loss per ADS was $0.32. A description
of the adjustments from GAAP to non-GAAP net loss attributable to
Fang's shareholders and fully diluted loss per ADS is detailed in
the Reconciliation Statement following this earnings release.
"I am happy to announce another strong quarter
with 34.2% growth rate for the top-line while at the same time put
the cost under control" Vincent Mo,
Chairman and CEO of Fang, commented. "Our transformation is on
track with a healthier and sustainable growth path. We expect that
Fang will return to high growth and profitability before the end of
the year."
Second Quarter 2016 Results
Revenues
Fang reported total revenues of $287.0
million for the three months ended June 30, 2016, representing an increase of 34.2%
from $213.9 million for the
corresponding period in 2015, primarily driven by the growth in
e-commerce services.
Revenue from e-commerce services was $189.5 million for the three months ended
June 30, 2016, a 77.4% increase from
$106.8 million for the same period in
2015, primarily due to the rapid growth of the real estate
brokerage services for secondary home.
Revenue from marketing services was $51.4
million for the three months ended June 30, 2016, a decrease of 15.2% from
$60.6 million for the corresponding
period in 2015, primarily due to the offset by our e-commerce
services .
Revenue from listing services was $26.9
million for the three months ended June 30, 2016, a decrease of 22.3% from
$34.6 million for the corresponding
period in 2015, primarily due to the increased in-house agents'
usage, which has been eliminated as inter-company transaction.
Revenue from internet financial services was $11.1 million for the three months ended
June 30, 2016, an increase of 176.4%
from $4.0 million for the
corresponding period in 2015, primarily due to rapid growth in our
financial services to the real estate brokerage services.
Revenue from value-added services and other services was
$8.0 million for the three months
ended June 30, 2016, which is higher
than the $7.8 million for the
corresponding period in 2015.
Cost of Revenue
Cost of revenue was $231.1 million
for the three months ended June 30,
2016, an increase of 115.9% from $107.0 million for the corresponding period in
2015. The increase in cost of revenue was mainly attributable to
the cost of increased staff from the real estate brokerage services
for secondary home.
Operating Expense
Operating expenses were $88.6
million for the three months ended June 30, 2016, an increase of 4.8% from
$84.5 million for the corresponding
period in 2015.
Selling expenses were $52.3
million for the three months ended June 30, 2016, a decrease of 4.7% from
$54.8 million for the corresponding
period in 2015, primarily due to decreased training fee and
advertising & promotion expense.
General and administrative expenses were $36.4 million for the three months ended
June 30, 2016, an increase of 22.4%
from $29.7 million for the
corresponding period in 2015, primarily due to increasing staff
cost and operating lease.
Operating Loss/Income
Operating loss was $32.8 million
for the three months ended June 30,
2016, compared to operating income of $22.3 million for the corresponding period in
2015.
Income Tax Expenses
Income tax expense was $8.7
million for the three months ended June 30, 2016, compared to income tax expenses of
$10.2 million for the corresponding
period in 2015.
Net Loss/Income and EPS
Net loss attributable to Fang's shareholders was $40.6 million for the three months ended
June 30, 2016, compared to net income
$16.2 million for the corresponding
period in 2015. Loss per fully-diluted ordinary share and ADS were
$0.43 and $0.09, respectively, for the three months ended
June 30, 2016, compared to earnings
$0.18 and $0.04 for the corresponding period in 2015.
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 June 30,
2016, compared to income of $28.4
million for the corresponding period in 2015.
Cash
As of June 30, 2016, Fang had
cash, cash equivalents, and short-term investments of $759.5 million, compared to $631.7 million as of June
30, 2015. Net cash generated from operating activities was
$36.5 million for the three months
ended June 30, 2016, compared to cash
flow generated from operating activities of $4.1 million for the same period in 2015,
primarily due to recovery of loan principal, which was $81.6 million for the three months ended
June 30, 2016.
First Half 2016Results
Revenues
Fang reported total revenues of $491.6
million for the first half of 2016, representing an increase
of 44.6% from $340.0 million for the
corresponding period in 2015, primarily driven by the growth in
e-commerce services.
Revenue from e-commerce services was $320.4 million for the first half of 2016, a
102.3% increase from $158.4 million
for the same period in 2015, primarily due to the rapid growth of
the real estate brokerage services for secondary home.
Revenue from marketing services was $81.8
million for the first half of 2016, a decrease of 19.1% from
$101.2 million for the corresponding
period in 2015, primarily due to the offset by our e-commerce
services.
Revenue from listing services was $51.0
million for the first half of 2016, a decrease of 12.5% from
$58.3 million for the corresponding
period in 2015, primarily due to increased in-house agents' usage,
which has been eliminated as inter-company transaction.
Revenue from internet financial services was $21.7 million for the first half of 2016, an
increase of 187.5% from $7.6 million
for the corresponding period in 2015 primarily, due to rapid growth
in our financial services to the real estate brokerage
services.
Revenue from value-added services and other services was
$16.6 million for the first half of
2016, which is higher than the $14.5
million for the corresponding period in 2015.
Cost of Revenue
Cost of revenue was $441.0 million
for the first half of 2016, an increase of 188.4% from $152.9 million for the corresponding period in
2015. The increase in cost of revenue was mainly attributable to
the cost of increased staff from the real estate brokerage services
for secondary home.
Operating Expenses
Operating expenses were $193.6
million for the first half of 2016, an increase of 23.1%
from $157.3 million for the
corresponding period in 2015.
Selling expenses were $113.9
million for the first half of 2016, an increase of 10.3%
from $103.2 million for the
corresponding period in 2015, primarily due to increased
depreciation expense, and increased advertising and promotional
expenses.
General and administrative expenses were $79.7 million for the first half of 2016, an
increase of 47.4% from $54.1 million
for the corresponding period in 2015, primarily due to increasing
staff cost and operating lease.
Operating Loss/Income
Operating loss was $142.8 million
for the first half of 2016, compared to operating income of
$29.8 million for the corresponding
period in 2015.
Income Tax Expenses
Income tax expense was $13.9
million for the first half of 2016, a 12.2% decrease
compared to $15.8 million for the
corresponding period in 2015.
Net Loss/Income and EPS
Net loss attributable to Fang's shareholders was $154.3 million for the first half of 2016,
compared to net income attributable to Fang's shareholders
$22.2 million for the corresponding
period in 2015. Loss per fully diluted ordinary share and ADS were
$1.62 and $0.32, respectively, for the first half of 2016,
compared to earnings $0.25 and
$0.05 for the corresponding period in
2015.
Cash
Net cash used in operating activities was $30.7 million for the first half of 2016, as
compared to net cash used in operating activities of $50.7 million for the same period in 2015,
primarily due to recovery of loan principal, which was $87.4 million for the six months ended
June 30, 2016.
Business Outlook
Fang reiterated its total revenue guidance for
2016 of around $1,148.6 million,
representing a year-on-year increase of 30.0%. We are confident
that Fang is on track to achieve the target. This forecast reflects
Fang's current and preliminary view, which is subject to
change.
Conference Call Information
Fang's management team will host a conference call on
August 25, 2016 at 8:00 AM U.S. EST (8:00
PM Beijing/Hong Kong time).
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 / +852
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 11:00
ET on August 25 through 9:59
ET September 2, 2016. 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:
|
67850245
|
A live and archived webcast of the conference call will be
available on Fang's website at http://ir.fang.com
About Fang
Fang operates the leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through our websites, we
provide e-commerce, marketing, listing, financial and other
value-added services for China's
fast-growing real estate and home furnishing and improvement
sectors. Our user-friendly websites support active online
communities and networks of users seeking information on, and other
value-added services for, the real estate and home furnishing and
improvement sectors in China. Fang
currently maintains about 100 offices to focus on local market
needs and its website and database contains real estate related
content covering more than 629 cities in China. For more information about Fang, 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 Fang's future financial
performance, revenue guidance for 2016, growth and growth rates,
and market position and continued business transformation.
Statements that are not historical facts, including statements
about Fang'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, without limitation, whether the transactions contemplated
by the restructuring of Fang's assets and businesses will receive
the requisite approvals, whether such restructuring will be carried
out as planned, the impact of such restructuring on Fang's assets
and businesses, the impact of Fang's transformation from a pure
Internet information platform to a transaction-oriented platform,
the impact of Fang's implementation of a "zero tolerance policy"
that has resulted in dismissal of employees, the impact of the
slowdown in China's real estate
market on Fang and the impact on revenues of our existing and new
service fees reductions, the ability of Fang to retain real estate
listing agencies as customers during challenging economic periods,
the success of Fang's new business initiatives, the ability of Fang
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.
About Non-GAAP Financial Measures
To supplement Fang's consolidated financial results presented in
accordance with United States Generally Accepted Accounting
Principles ("GAAP"), Fang 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.
Fang 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
June 30, 2016, which (1) may not be
indicative of Fang'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 Fang'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 Fang'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. Kent Cangsang Huang
CFO
Phone: +86-10-5631-9668
Email: huangcangsang@fang.com
SouFun Holdings
Limited
|
Condensed
Consolidated Balance Sheets
|
(in thousands of
U.S. dollars, except share data and per share data)
|
ASSETS
|
|
June
30,
|
December
31,
|
|
|
2016
|
2015
|
Current
assets:
|
(Unaudited)
|
(Audited)
|
|
Cash and cash
equivalents
|
642,169
|
817,921
|
|
Restricted cash,
current
|
101,038
|
103,179
|
|
Short-term
investments
|
16,244
|
62,559
|
|
Accounts receivable,
net
|
147,600
|
147,516
|
|
Funds
receivable
|
38,571
|
45,400
|
|
Prepayment and other
current assets
|
49,422
|
60,265
|
|
Commitment
deposits
|
9,201
|
10,646
|
|
Loan receivable,
current
|
175,682
|
266,990
|
|
Amount due from
related parties
|
425
|
262
|
Total current
assets
|
1,180,352
|
1,514,738
|
Non-current
assets:
|
|
|
|
Property and
equipment, net
|
333,459
|
326,504
|
|
Loan receivable,
non-current
|
54,250
|
55,349
|
|
Deferred tax assets,
non-current
|
5,143
|
5,490
|
|
Deposit for
non-current assets
|
239,905
|
137,715
|
|
Long-term
investments
|
232,166
|
244,678
|
|
Other non-current
assets
|
7,272
|
10,852
|
Total non-current
assets
|
872,195
|
780,588
|
Total
assets
|
2,052,547
|
2,295,326
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
Current
liabilities:
|
|
|
|
Short-term
loans
|
82,941
|
100,000
|
|
Deferred
revenue
|
170,237
|
145,321
|
|
Accrued expenses and
other liabilities
|
327,072
|
361,593
|
|
Customers' refundable
fees
|
66,817
|
59,107
|
|
Income tax
payable
|
5,165
|
9,948
|
|
Convertible senior
notes
|
398,565
|
400,000
|
Total current
liabilities
|
1,050,797
|
1,075,969
|
Non-current
liabilities:
|
|
|
|
Convertible senior
notes
|
288,660
|
287,887
|
|
Deferred tax
liabilities, non-current
|
73,847
|
76,631
|
|
Other non-current
liabilities
|
113
|
312
|
Total non-current
liabilities
|
362,620
|
364,830
|
Total
Liabilities
|
1,413,417
|
1,440,799
|
|
|
|
|
Equity:
|
|
|
|
Class A ordinary
shares, par value Hong Kong
Dollar ("HK$") 1.00 per share, 600,000,000 shares
authorized for Class A and Class B in aggregate, and
69,461,871 shares and 70,736,697 shares issued and
outstanding as at June 30, 2016 and December 31,
2015, respectively
|
9,132
|
9,110
|
|
Class B ordinary
shares, par value HK$1.00 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 June
30, 2016 and December 31, 2015, respectively
|
3,124
|
3,124
|
|
Treasure
stock
|
(4,823)
|
-
|
|
Additional paid-in
capital
|
453,384
|
478,391
|
|
Accumulated other
comprehensive loss
|
(41,651)
|
(10,364)
|
|
Retained
earnings
|
219,204
|
373,505
|
Total SouFun
Holdings Limited shareholders' equity
|
638,370
|
853,766
|
|
Noncontrolling
interests
|
760
|
761
|
Total
equity
|
639,130
|
854,527
|
TOTAL LIABILITIES
AND EQUITY
|
2,052,547
|
2,295,326
|
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
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
Revenues:
|
|
|
|
|
|
|
|
|
E-commerce
services
|
189,514
|
|
106,831
|
|
320,418
|
|
158,373
|
|
Marketing
services
|
51,412
|
|
60,600
|
|
81,844
|
|
101,223
|
|
Listing
services
|
26,902
|
|
34,612
|
|
50,988
|
|
58,255
|
|
Financial
services
|
11,104
|
|
4,018
|
|
21,729
|
|
7,558
|
|
Other
value-added
services and other services
|
8,046
|
|
7,828
|
|
16,622
|
|
14,536
|
Total
revenues
|
286,978
|
|
213,889
|
|
491,601
|
|
339,945
|
|
|
|
|
|
|
|
|
|
Cost of
Revenues:
|
|
|
|
|
|
|
|
|
Cost of
services
|
(231,137)
|
|
(107,049)
|
|
(440,780)
|
|
(152,858)
|
Total Cost of
Revenues
|
(231,137)
|
|
(107,049)
|
|
(440,780)
|
|
(152,858)
|
|
|
|
|
|
|
|
|
|
Gross
Profit
|
55,841
|
|
106,840
|
|
50,821
|
|
187,087
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
Selling
expenses
|
(52,264)
|
|
(54,829)
|
|
(113,861)
|
|
(103,216)
|
|
General and
administrative
expenses
|
(36,359)
|
|
(29,699)
|
|
(79,736)
|
|
(54,083)
|
Operating
(Loss)Income
|
(32,782)
|
|
22,312
|
|
(142,776)
|
|
29,788
|
|
Foreign
exchange gain
|
92
|
|
85
|
|
57
|
|
71
|
|
Interest
income
|
2,960
|
|
6,664
|
|
6,473
|
|
14,708
|
|
Interest
expense
|
(4,596)
|
|
(4,123)
|
|
(9,206)
|
|
(8,224)
|
|
Investment
income
|
1,355
|
|
315
|
|
1,355
|
|
315
|
|
Government
grants
|
1,067
|
|
1,079
|
|
3,667
|
|
1,381
|
(Loss) Income
before income
taxes and noncontrolling
interests
|
(31,904)
|
|
26,332
|
|
(140,430)
|
|
38,039
|
Income tax
expenses
|
|
|
|
|
|
|
|
|
Income tax
expenses
|
(8,698)
|
|
(10,172)
|
|
(13,872)
|
|
(15,794)
|
Net
(loss)income
|
(40,602)
|
|
16,160
|
|
(154,302)
|
|
22,245
|
|
Net (loss)
income
attributable to
noncontrolling
interests
|
(1)
|
|
(6)
|
|
1
|
|
(28)
|
Net (loss)
income
attributable to SouFun
Holdings Limited's
shareholders
|
(40,601)
|
|
16,166
|
|
(154,303)
|
|
22,273
|
Other
comprehensive (loss)income, net of
tax
|
|
|
|
|
|
|
|
|
Foreign
currency Translation
|
(26,737)
|
|
4,548
|
|
(27,890)
|
|
(71)
|
|
Unrealized gain
on
available-for-sale security
|
1,386
|
|
11,858
|
|
(3,397)
|
|
14,471
|
Total other
comprehensive
income (loss), net of tax
|
(25,351)
|
|
16,406
|
|
(31,287)
|
|
14,400
|
Comprehensive
income(loss)
|
(65,952)
|
|
32,572
|
|
(185,590)
|
|
36,673
|
(Loss) Earnings
per share for Class A and Class B ordinary
shares
|
|
|
|
|
|
Basic
|
(0.43)
|
|
0.20
|
|
(1.62)
|
|
0.27
|
|
Diluted
|
(0.43)
|
|
0.18
|
|
(1.62)
|
|
0.25
|
(Loss) Earnings
per ADS
|
|
|
|
|
|
|
|
|
Basic
|
(0.09)
|
|
0.04
|
|
(0.32)
|
|
0.05
|
|
Diluted
|
(0.09)
|
|
0.04
|
|
(0.32)
|
|
0.05
|
Weighted average
number of Class A and Class B ordinary shares
outstanding:
|
|
Basic
|
94,816,906
|
|
82,861,457
|
|
94,980,072
|
|
82,796,866
|
|
Diluted
|
94,816,906
|
|
88,230,507
|
|
94,980,072
|
|
87,866,887
|
Weighted average
number of ADSs outstanding:
|
|
|
|
|
|
Basic
|
474,084,530
|
|
414,307,285
|
|
474,900,360
|
|
413,984,330
|
|
Diluted
|
474,084,530
|
|
441,152,535
|
|
474,900,360
|
|
439,334,435
|
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
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
GAAP (loss)
income
from operations
|
(32,782)
|
|
22,312
|
|
(142,776)
|
|
29,788
|
|
Share-based
compensation expense
|
2,464
|
|
1,593
|
|
4,369
|
|
2,027
|
|
Non-GAAP
(loss) income from
operations
|
(30,318)
|
|
23,905
|
|
(138,407)
|
|
31,815
|
|
|
|
|
|
|
|
|
|
|
GAAP net
(loss) income
|
(40,602)
|
|
16,160
|
|
(154,302)
|
|
22,245
|
|
Withholding tax
related to dividends
|
-
|
|
2,135
|
|
-
|
|
3,140
|
|
Investment
income
|
(1,355)
|
|
(315)
|
|
(1,355)
|
|
(315)
|
|
Share-based
compensation expense
|
2,464
|
|
1,593
|
|
4,369
|
|
2,027
|
|
Non-GAAP net
(loss) income
|
(39,493)
|
|
19,573
|
|
(151,288)
|
|
27,097
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)income
attributable to
SouFun Holdings
Limited's
shareholders
|
(40,601)
|
|
16,166
|
|
(154,303)
|
|
22,273
|
|
Withholding tax
related to dividends
|
-
|
|
2,135
|
|
-
|
|
3,140
|
|
Investment
income
|
(1,355)
|
|
(315)
|
|
(1,355)
|
|
(315)
|
|
Share-based
compensation expense
|
2,464
|
|
1,593
|
|
4,369
|
|
2,027
|
|
Non-GAAP net
(loss) income
attributable to
SouFun Holdings
Limited's
shareholders
|
(39,492)
|
|
19,579
|
|
(151,289)
|
|
27,125
|
|
|
|
|
|
|
|
|
|
|
GAAP (loss)
earnings
per share for Class A
and Class B ordinary
shares:
|
|
|
|
|
|
|
|
|
Basic
|
(0.43)
|
|
0.20
|
|
(1.62)
|
|
0.27
|
|
Diluted
|
(0.43)
|
|
0.18
|
|
(1.62)
|
|
0.25
|
|
GAAP (loss)
earnings
per ADS:
|
|
|
|
|
|
|
|
|
Basic
|
(0.09)
|
|
0.04
|
|
(0.32)
|
|
0.05
|
|
Diluted
|
(0.09)
|
|
0.04
|
|
(0.32)
|
|
0.05
|
|
Non-GAAP (loss)
earnings
per share for Class A
and Class B ordinary
shares:
|
|
|
|
|
|
|
|
|
Basic
|
(0.42)
|
|
0.24
|
|
(1.59)
|
|
0.33
|
|
Diluted
|
(0.42)
|
|
0.22
|
|
(1.59)
|
|
0.31
|
Non-GAAP
(loss)earnings per ADS:
|
|
|
|
|
|
|
|
Basic
|
(0.08)
|
|
0.05
|
|
(0.32)
|
|
0.07
|
|
Diluted
|
(0.08)
|
|
0.04
|
|
(0.32)
|
|
0.06
|
|
Weighted average
number of Class A and
Class B ordinary
shares outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
94,816,906
|
|
82,861,457
|
|
94,980,072
|
|
82,796,866
|
|
Diluted
|
94,816,906
|
|
88,230,507
|
|
94,980,072
|
|
87,866,887
|
Weighted average
number of ADSs outstanding:
|
|
|
|
|
|
Basic
|
474,084,530
|
|
414,307,285
|
|
474,900,360
|
|
413,984,330
|
|
Diluted
|
474,084,530
|
|
441,152,535
|
|
474,900,360
|
|
439,334,435
|
|
|
|
Three months
ended
|
|
Six months
ended
|
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
Non-GAAP Net
(loss) income
|
(39,493)
|
|
19,573
|
|
(151,288)
|
|
27,097
|
Add
back:
|
|
|
|
|
|
|
|
|
Interest
expense
|
4,596
|
|
4,123
|
|
9,206
|
|
8,224
|
|
Income tax
expenses
|
8,698
|
|
8,037
|
|
13,872
|
|
12,654
|
|
Depreciation
expenses
|
4,906
|
|
3,356
|
|
9,208
|
|
6,429
|
Subtract:
|
|
|
|
|
|
|
|
|
Interest
income
|
(2,960)
|
|
(6,664)
|
|
(6,473)
|
|
(14,708)
|
|
Adjusted
EBITDA
|
(24,253)
|
|
28,425
|
|
(125,475)
|
|
39,696
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fang-announces-second-quarter-2016-results-300318211.html
SOURCE SouFun Holdings Limited