Accepted Accounting Generally Principle State United

Accepted Accounting Generally Principle State United

Accepted Accounting Generally Principle State United

Posted on: November 23, 2011 - 4:16 pm
by Admin

Dispatch of sina science and Technology USA Eastern time November 21st 17: 00 (Beijing time news, November 22nd 6: 00) (Nasdaq: perfect worldPWRD) today released as of September 30th 2011 the third quarter of fiscal year unaudited financial report. The report shows, perfect world third quarters of the total revenue of 708900000 yuan ($111200000), a quarter of 779600000 yuan, the same period last year to 579200000 yuan; attributable to shareholders of the company’s net profit of 143600000 yuan ($22500000), a quarter of 316600000 yuan, compared with the same period last year yuan 213700000 yuan 32.8%.

In 2011 third quarter performance Abstract

The quarter operating income for 708.9 million yuan (111.2 dollar), for the 779.6 quarter million yuan, 579.2 for the same period last year million yuan.

This quarter profit of 587.7 million yuan (92.1 dollar), for the 665.9 quarter million yuan, 486.9 for the same period last year million yuan.

The quarter operating profit of 193.9 million yuan (30.4 dollar), for the 320.4 quarter million yuan, 193.5 for the same period last year million yuan. The quarter of the United States generally accepted accounting principles operating profit of 2 is 221.3 million yuan (34.7 dollar), for the 348 quarter million yuan, 219 for the same period last year million yuan.

The quarterly income tax expenses for 78.8 million yuan (12.4 dollar), for the 38.6 quarter million yuan, 17.3 for the same period last year million yuan. The company recently passed dividend distribution policy adjustment programmes, reflect the company is willing to China’s wholly-owned subsidiary of a portion of the profits to the shareholders do not regularly used for dividend. Thus, as of September 30, 2011, the company withholding income tax withholding.

The quarter attributable to shareholders of the company’s net profit of 143.6 million yuan (22.5 dollar), for the 316.6 quarter million yuan, 213.7 for the same period last year million yuan. The quarter of the United States generally accepted accounting principles are attributable to shareholders of the company’s net profit of 2 is 171.1 million yuan (26.8 dollar), for the 344.3 quarter million yuan, 239.2 for the same period last year million yuan.

The quarter per American depositary share 3 basic and diluted net income for 2.96 yuan ($0.46) and 2.83 yuan ($0.44), the quarter were 6.30 yuan and 5.98 yuan, the same period last year respectively 4.27 yuan and 4.05 yuan. The quarter of the United States generally accepted accounting principles per American depositary share basic and diluted net income 2 respectively for 3.53 yuan ($0.55) and 3.37 yuan ($0.53), the quarter were 6.86 yuan and 6.50 yuan, the same period last year respectively 4.77 yuan and 4.53 yuan.

Launched in August 18, 2011, “the Heaven Sword and Dragon Saber” does not delete archives testing.

The acquisition of American famous network game company Cryptic Studios, Inc (hereinafter referred to as the “Cryptic Studios”).

Formally signed an agreement to invest in a venture capital fund (hereinafter referred to as the “fund”), the fund will focus on science and technology, media and communications in the field of high growth potential of the company investment.

Perfect world chairman and CEO Chi Yufeng said: “the third quarter reached us before the adjustment performance expectations. Since we decided to slow in the third quarter of some existing game in promotional activities, we in the earlier to the third quarter was adjusted to reflect this decision brought effect.Although focused on further enhance the company’s product portfolio of game content to the company’s long-term healthy development is very necessary, but the company this quarter revenue also affected by this relatively on the quarter glides somewhat. Nevertheless, third quarter revenue still steady growth in 22.4% over the same period last year. As we mentioned before, seasonal fluctuations in performance is our product cycle in a normal component. Experience shows that, the rich game content, then carry out in game promotion of repeated cycles of product life cycle is prolonged the game life cycle, which is conducive to the company’s long-term growth. With the company’s game product mix constantly enrich and enhance the performance of the company, we are very optimistic about the long-term performance. We believe that investors by paying attention to our long-term sustained performance, can more clearly see the us the advantage of business mode.”

“We have a wealth of game product mix and a strong product line, the company’s long-term prospects worth looking forward to. In the third quarter, we introduced the company’s first 2D martial arts MMORPG “the Heaven Sword and Dragon Saber” does not delete archives testing, further expansion of the company’s product portfolio rich game. We also introduced a series of existing game piece of information and content updates to keep its vitality. At the same time, our company is rich and deep game product line of attractive game is full of expectations, including a highly anticipated game player “the legendary swordsman” and “Saint Seiya Online” and other games. At present, we have a series of different styles of the new game in development, including MMORPG, webpage game and game types. By virtue of the company in product development and innovation in the field of outstanding advantages, we will continue to use our independent research and development technology, the professional game studio and global talent team, for different types of market to bring more wonderful works.”

“Let our brands and quality game globalization has been one of the key strategies to us, we continue in the overseas business achieved gratifying progress. In the third quarter, we performed on the famous American online gaming company Cryptic Studios acquisition, this is our game product line more world-class game works, such as “Champions Online”, “Star Trek Online” and “Neverwinter”, and other new projects. This strategic acquisition will further in the global scope strengthen our strong R & D and operational strength, will be helpful for us in the United States and the European market further penetration. In addition, we recently and a leading global online entertainment company Nexon Korea Corporation (hereinafter referred to as the ‘Nexon’) to establish strategic cooperation, joint in South Korea to establish a new company. We expect that this strategic alliance will be helpful to the perfect world in the Korean market to further expand the user base, and to provide better service for the local game player.”

“Recently, we also formally signed the relevant agreement, will serve as a limited partner in 9 years’ time to invest in a venture capital fund. The fund will be experienced by the general partner management, focused on science and technology, media and communications in the field of high growth potential of the company investment. We will use our abundant professional knowledge and their own growth experience, to better analyze and capture the important market opportunities. We are also in the future through the risk investment funds by the investment portfolio of companies with perfect world may reach investment and cooperation brought about by the synergistic effect of full of expectation, we believe that these will help us to further expand the user base and strengthen our network platform.”

“Looking to the future, with our strong research and development strength, large global networks and rich profound game product line, we believe that the company has sufficient resources and favorable conditions to realize the long-term sustainable development. We have confidence in the company’s performance in the long-term future continue to create value for its shareholders.”

Perfect world’s chief financial officer, Liu Yongji added: “the third quarter reached us before the adjustment performance expectations. As we slow down some of the current game in charge, the quarter operating income by pressure. At the same time, along with the out of long-term development for the company to consider the high cost, this quarter profit rate temporarily decline. In the third quarter, we completed the acquisition of Cryptic Studios. In addition, we’re still the second half paragraph launched a new game “the Heaven Sword and Dragon Saber” does not delete archives testing, and launched a series of existing game piece of information, resulting in a higher advertising and promotion costs.These activities led to our cost growth temporarily exceeded income growth, but we think the move is necessary, beneficial to our long-term sustainable development.”

“Although the third quarter performance under a certain pressure, the company’s overseas business continued to perform well. In overseas markets, we continue in the Chinese online game companies, our overseas operations and overseas licensing revenue and more than 1/4 of total revenue, overseas business geographic coverage has expanded to more than 100 countries and regions worldwide. In the third quarter, we the United States and Europe through its subsidiary success in Europe launched a “perfect world” in German and French, in North America and Europe launched “Rusty Hearts”. We also recently through its wholly owned subsidiary of Japan in Japan launched the “ghost world”. The company’s overseas licensing business will continue to maintain a steady growth, this quarter the company signed a few authorized agency agreement, and through overseas partners in different market launch of the product of much money game. In addition, we will also our geographical coverage area further expansion to the Australian and New Zealand and other countries more.”

“The prospects for the company, we always full of confidence, and continue to implement the company a $100000000 stock repurchase program. As of November 21, 2011, we have been in the open market repurchase by a total of 4366549 shares of American depositary shares. We are expected to be based on market conditions and the interests of shareholders to continue the stock repurchase program.”

“Create value for shareholders is the company’s commitment to pursue one of important commitment. Therefore, the management of the company recently proposed to adjust the company’s dividend policy, reflecting the company is willing to be a wholly owned subsidiary of China from a portion of the profits to the shareholders do not regularly used for dividend. The dividend distribution policy adjustment is proposed by the board of directors of the company have been considered and approved. Therefore, according to the United States generally accepted accounting principles and the Chinese mainland and Hongkong tax arrangement, as of September 30, 2011, the company withholding 68.3 million yuan (10.7 dollar) the withholding tax, which included in deferred tax liabilities.Final dividend declared and paid by the board further approval.”

In 2011 third quarter financial results

Business income

The quarter operating income for 708.9 million yuan (111.2 dollar), for the 779.6 quarter million yuan, 579.2 for the same period last year million yuan.

The quarterly online game business income (including domestic and overseas online games business income) for 643.2 million yuan (100.9 dollar), for the 712.1 quarter million yuan, 527.1 for the same period last year million yuan. Online game business income relatively on the quarter of the reduction is mainly due to the company decided to slow in the third quarter of some existing game in promotional activities, to further enhance the company game product mix of content for the game, to extend the company’s existing game life cycle.

The quarter in mainland China operation game online at the same time the average user (ACU) number of about 828000, a quarter to 890000, 733000 for the same period last year. ACU relatively on the quarter was mainly due to the decline in the first quarter the user quantity adverse seasonal factors and the company greater strength against external measures caused by.

The quarter licensing revenue for 55.8 million yuan (8.7 dollar), for the 61.8 quarter million yuan, 48.6 for the same period last year million yuan. Authorized income relatively on the quarter was mainly due to the decline in certain overseas market adverse seasonal factors led to the Commission authorized the use of revenue, as well as the quarter of the company in the overseas market less new game led to initial licensing revenue.

Other income for 9.9 million yuan (1.6 dollar), for the 5.6 quarter million yuan, 3.6 for the same period last year million yuan. Other income relatively on the quarter growth mainly comes from the company to develop social game generated revenue.

Cost of sales

The quarter of operating cost is 121.2 million yuan (19 dollar), for the 113.7 quarter million yuan, 92.4 for the same period last year million yuan. Operating costs relatively on the quarter mainly due to rising Cryptic Studios related project into a report by.

Maori and gross profit rate

This quarter profit of 587.7 million yuan (92.1 dollar), for the 665.9 quarter million yuan, 486.9 for the same period last year million yuan. Gross margin for the quarter 82.9%, quarter gross margin of 85.4%, the same period last year gross margin of 84%.

Operating expenses

The quarter operating costs for 393.9 million yuan (61.8 dollar), for the 345.5 quarter million yuan, 293.4 for the same period last year million yuan. Business expense quarter-over-quarter rise mainly to research and development costs, sales and marketing costs and management costs.

The research and development costs for the 170.6 quarter million yuan (26.8 dollar), for the 161 quarter million yuan, 113.8 for the same period last year million yuan. Research and development expense quarter-over-quarter rise is mainly due to the Cryptic Studios project into a report by.

The quarterly sales and marketing expenses for 146.7 million yuan (23 dollar), for the 121.4 quarter million yuan, 122.2 for the same period last year million yuan. Sales and marketing expense quarter-over-quarter rise was mainly due to the company in the third quarter to half of the launch of a series of existing game data sheet and recently launched a new game “the Heaven Sword and Dragon Saber” do not delete archives testing led to advertising and promotion costs, Cryptic Studios projects related to the merger, as well as in the third quarter to participate in a national trade fair related costs increase.

The quarterly management costs for 76.5 million yuan (12 dollar), for the 63.1 quarter million yuan, 57.3 for the same period last year million yuan. Management expense quarter-over-quarter rise mainly originates from the Cryptic Studios related project into the statements about the effects, as well as professional service fee increases.

Operating profit

The quarter operating profit of 193.9 million yuan (30.4 dollar), for the 320.4 quarter million yuan, 193.5 for the same period last year million yuan. The quarter of the United States generally accepted accounting principles for business profit is 221.3 million yuan (34.7 dollar), for the 348 quarter million yuan, 219 for the same period last year million yuan.

Income tax expense

The quarterly income tax expenses for 78.8 million yuan (12.4 dollar), for the 38.6 quarter million yuan, 17.3 for the same period last year million yuan. The board of directors of the company recently passed dividend distribution policy adjustment programmes, reflect the company is willing to Chinese subsidiary portion of profit is not regularly assigned to Hongkong subsidiary company perfect online holding company, ultimately for the dividend to shareholders.According to the United States generally accepted accounting principles, unless there is sufficient evidence indicating that company has been or will be the undistributed profit indefinitely for investment or the profits in the future can be tax-free way liquidation, the Chinese subsidiary all undistributed profits are assumed to be assigned to the parent company and the need for withholding income tax withholding. Thus, as of September 30, 2011, the company withholding 68.3 million yuan (10.7 dollar) the withholding tax, which included in deferred tax liabilities. Final dividend declared and paid by the board further approval.

Attributable to shareholders of the company’s net profit

The quarter attributable to shareholders of the company’s net profit of 143.6 million yuan (22.5 dollar), for the 316.6 quarter million yuan, 213.7 for the same period last year million yuan. The quarter of the United States generally accepted accounting principles are attributable to shareholders of the company’s net profit of 171.1 million yuan (26.8 dollar), for the 344.3 quarter million yuan, 239.2 for the same period last year million yuan.

The quarter per American depositary share basic and diluted net income for 2.96 yuan ($0.46) and 2.83 yuan ($0.44), the quarter were 6.30 yuan and 5.98 yuan, the same period last year respectively 4.27 yuan and 4.05 yuan. The quarter of the United States generally accepted accounting principles per American depositary share basic and diluted net income for 3.53 yuan ($0.55) and 3.37 yuan ($0.53), the quarter were 6.86 yuan and 6.50 yuan, the same period last year respectively 4.77 yuan and 4.53 yuan.

Cash and cash equivalents

As of September 30, 2011, the company’s cash and cash equivalent value of 1600000000 yuan (253.8 US $). As of June 30, 2011, the company’s cash and cash equivalents are worth 1700000000 yuan. Cash and cash equivalents decrease was mainly due to the company on the Cryptic Studios investment company, as well as in the third quarter from the open market repurchase American Depositary Shares by the company, and online game operation and sale business income and net cash inflow was partially offset by the reduction in cash and cash equivalents.

To complete the film stripping operations

In August 3, 2011, the perfect world officially announced the signing of an agreement, will be a perfect world television business entity – perfect world (Beijing) Limited of film culture, with 360000000 yuan price sells Beijing happy permanent Television Culture Company Limited (hereinafter referred to as the “eternal happiness.”). Perfect world chairman and CEO Chi Yufeng as the major shareholder of permanent happiness.

As of September 30, 2011, the company has been in the form of cash completed delivery of all, according to the United States generally accepted accounting principles are the same control related standards, will be included in the relevant profit “capital reserves” shown in the consolidated balance sheet. Film and television business spin-off will help to perfect the world to focus on its core network game development and operation of the business, resulting in the company’s future growth to achieve the maximization of shareholder value.

Recent business development

With the Nexon Korea Corporation to establish strategic alliances

Perfect world in 2011 November with Nexon Korea Corporation, a leading global online entertainment company and a trading model massively multiplayer online game publisher, announced that the two sides have united in South Korea to establish a new company, in management of Korean online games business. This strategic alliance will be helpful to the perfect world in the Korean market to further expand the user base, and to provide better service for the local game player.

American Depositary Shares Buy-back scheme

In 2011 March, the board of directors of the company authorized to perfect world in 2011 March to 2012 March period of not more than $100000000 in the Company repurchased its American depositary shares. As of November 21, 2011, the company has been based on the repurchase plan from the open market repurchase 4366549 shares of American depositary shares.

Business outlook

Based on the company’s current operations, the company is expected in 2011 fourth quarter revenue in 695 roughly one million yuan to 737 one million yuan. The expected interval and the quarterly revenue was essentially flat, but compared with the same period last year grew by 18% to 26%. Normal cycle of the products as a necessary stage in the game, in order to improve existing life cycle as well as the consolidation of the company growth sustainability plan in the fourth quarter, the company continues to focus on further enhance the company’s product portfolio in the game content and slow down some of the existing game in game promotion. In addition, in order to further the game will be fine and in the best market opportunity in game promotion activities, the company decided to “the Heaven Sword and Dragon Saber” total beta in the first half of next year.Therefore, “the Heaven Sword and Dragon Saber” is not expected to be as the company’s fourth quarter revenue made a significant contribution to.

Conference call

Perfect world in the United States Eastern time November 21, 2011 Monday night at 8 pm (Beijing time Tuesday November 22nd as early as 9) held a conference call and live web conference, reporting of the financial and operating conditions.

Participate in the live call telephone number as follows:

- the United States of America users please call toll free 1-866-519-4004

- international users please call + 65-6723-9381

- Mainland China customers please call toll free 800-819-0121

- the Hongkong area users please call toll free 80-093-0346

- UK users please call toll free 080-8234-6646

Conference access password: PWRD

Users can also be in a perfect world website (http: / / www.pwrd.com) investor relations column online listen to a conference or meeting playback.

Conference call playback on telephone conference ends 2 hours after the start, which is reserved to the United States of America Eastern time late on November 28, 2011 11: 59.

Dial in to listen to the telephone number as follows:

- the United States of America users please call toll free 1-866-214-5335

- international users please call + 61-2-8235-5000

Conference access password: 7973 (PWRD)

Whitman said:” we are facing many challenges unique to hp. We need to improve the executive power,AD744JN Suppliers,the need for improved services business, the need for better management of imaging and printing group channel inventory, needs in the Chinese market to achieve recovery.”

The Economic Observer network comprehensive reports Beijing time on November 22nd, HP ( micro-blog ) released 2011 fiscal fourth quarter and annual earnings. The report shows, HP fourth quarter net revenue of $32122000000, compared with the same period last year loss of $33278000000 in 3%; net profit is 239000000 dollar, than last year the corresponding period of $2538000000 down 91%. HP fourth quarter results beyond the Wall Street analyst expectations, promote the after-hours stock has risen nearly 3%.

According to the geographical division of HP, fourth from American Quarter on revenue of $14500000000, down 4% year-on-year, excluding the effect of exchange rate changes to 4% year-on-year decline; from Europe, the Middle East and Africa ‘s revenue was $11700000000, down 6% year-on-year, excluding the effect of exchange rate changes to 10% year-on-year decline; from the Asia-Pacific business revenue 6000000000 dollars, an increase of 3%, excluding the effect of exchange rate changes to 4% year-on-year decline. HP fourth money come from outside the United States market run in total battalion holds proportion for 65%; HP ‘s fourth quarter from the BRIC countries ( Brazil, Russia, India and China ) the battalion closes for 3800000000 dollar, grow 9% compared to the same period, the total revenue in the proportion of 12%.

According to the business sector, HP’s personal systems group ‘s fourth quarter revenue of $10100000000, down 2% year-on-year, the notebook revenue growth of 1% over the same period, desktop year-on-year revenue growth of 5%, personal systems group shipments rose 2%; HP’s imaging and printing group the fourth quarter revenue of $6300000000, down 10% year-on-year, the commercial printer hardware shipments growth of 5%, personal printer hardware shipments fell 8%; HP enterprise server, storage and network department ‘s fourth quarter revenue of $5700000000, down 4% year-on-year; HP service sector fourth quarter revenue of $9300000000, an increase of 2%; HP software ‘s fourth quarter revenue of $976000000, an increase of 28%; HP financial services sector fourth quarter revenue 952000000 dollar, grow 18% compared to the same period.

HP is expected, according to standard of American general accounting, fiscal 2012 earnings per share of $3.20; in the United States generally accepted accounting principles, not accounted for about $0.80 a share of intangible assets amortization and impairment of acquisition, restructuring costs and related expenses, fiscal 2012 earnings per share is expected to at least $4. Below the Thomson Reuters statistics the average analyst forecast of $4.54.

HP ‘s performance in 2012 is expected to give very conservative, the HP ‘s new CEO MEG Whitman ( Meg Whitman ) set a relatively low performance goals. Whitman said, 2012 will be the HP” reboot and reconstruction of the year”. Whitman also warned that, due to a worsening external environment, such as the European market demand drops, HP ‘s future growth will face severe challenges. In addition, Thailand floods affected the hard disk supply, which cause the computer to key components in prices. Whitman also said:” we are facing many challenges unique to hp. We need to improve the executive power, the need for improved services business, the need for better management of imaging and printing group channel inventory, needs in the Chinese market to achieve recovery.”