SHANGHAI, Nov. 25, 2014 /PRNewswire/ -- Taomee Holdings
Limited (NYSE: TAOM) ("Taomee" or the "Company"), a leading
children's entertainment and media company in China, today reported its unaudited financial
results for the third quarter of 2014.
Highlights of the Third Quarter of 2014
- Total net revenues were US$12.3
million in the third quarter of 2014, an increase of 17.0%
from US$10.5 million in the second
quarter of 2014 and a decrease of 21.8% from US$15.8 million in the third quarter of
2013.
- Net revenues from online businesses were US$8.8 million in the third quarter of 2014, an
increase of 5.6% from US$8.4 million
in the second quarter of 2014 and a decrease of 13.7% from
US$10.3 million in the third quarter
of 2013.
- Net revenues from offline businesses were US$3.5 million in the third quarter of 2014, an
increase of 61.5% from US$2.1 million
in the second quarter of 2014 and a decrease of 36.8% from
US$5.5 million in the third quarter
of 2013.
- Gross profit was US$8.8 million
in the third quarter of 2014, an increase of 17.0% from
US$7.5 million in the second quarter
of 2014 and a decrease of 21.7% from US$11.2
million in the third quarter of 2013.
- Income from operations was US$0.1
million in the third quarter of 2014, compared with a loss
of US$1.8 million in the second
quarter of 2014 and an income of US$1.7
million in the third quarter of 2013.
- Non-GAAP net income attributable to holders of ordinary shares
was US$3.2 million in the third
quarter of 2014, as compared with US$0.2
million Non-GAAP net loss in the second quarter of 2014 and
US$2.9 million Non-GAAP net income in
the third quarter of 2013.
- Non-GAAP basic and diluted earnings per ADS[1] were
US$0.09 and US$0.09, respectively, in the third quarter of
2014, as compared with US$0.01 and
US$0.01 loss per ADS, respectively,
in the second quarter of 2014 and US$0.08 and US$0.08
earnings per ADS, respectively, in the third quarter of 2013.
|
[1]
|
Each American
depositary share ("ADS") represents twenty ordinary
shares.
|
Key Operating Metrics
- The number of active accounts ("ACA") for the Company's virtual
worlds under operation in mainland China was approximately 59.4 million in the
third quarter of 2014, an increase of 41.8% from 41.9 million in
the second quarter of 2014 and a decrease of 2.3% from 60.8 million
in the third quarter of 2013.
- Active paying accounts ("APA") for the Company's virtual worlds
under operation in mainland China
were 1.2 million in the third quarter of 2014, an increase of 9.1%
from 1.1 million in the second quarter of 2014, and a decrease of
29.4% from 1.7 million in the third quarter of 2013.
- Average revenue per user ("ARPU") for the Company's virtual
worlds under operation in mainland China was approximately RMB43 in the third quarter of 2014, an increase
of 4.9% from RMB41 in the second
quarter of 2014 and an increase of 19.4% from RMB36 in the third quarter of 2013.
- The number of downloads of the mobile applications operated by
the Company increased by approximately 4.1 million (including 2.2
million downloads of Reverse World) in the third quarter of 2014,
an increase of 156.3% compared with 1.6 million in the second
quarter of 2014 and an increase of 10.8% from 3.7 million in the
third quarter of 2013.
"In the third quarter, we continued along the path of
strengthening the company for its long-term success. We developed
new games for both online and mobile platforms, expanded our
delivery channels and further explored opportunities in our offline
business," commented Mr. Benson
Wang, co-founder and chief executive officer of
Taomee.
"We continued to streamline our development and operations in
web games while also manage the various product life-cycles of our
key franchises. At the same time, we are developing new
mobile games and plan to increase our expansion into new markets
through our game publishing partners. We have already launched one
mobile game in a number of countries, and expect to further launch
two to three games in the next few quarters by applying the same
strategy. With respect to our offline business, we continued to
experience a few monetization setbacks but accept this as an
inevitable challenge when exploring new and relatively uncharted
territories in China's IP
licensing business. However, as the intrinsic value of our IP
continues to rise in China, we
look to further develop and unlock its value in the long-term."
"We continue to believe in the synergies of our online and
offline businesses, which we believe differentiate us from our
competitors. As we wind down 2014 and look ahead into 2015, we
remain as dedicated as ever to our unique business model, and look
forward to delivering on the long-term prospects of our
business."
Unaudited Financial Results for Third Quarter of 2014
Net Revenues
Total net revenues were US$12.3
million in the third quarter of 2014, an increase of 17.0%
from US$10.5 million in the second
quarter of 2014 and a decrease of 21.8% from US$15.8 million in the third quarter of 2013.
Net revenues from online businesses were US$8.8 million in the third quarter of 2014, an
increase of 5.6% from US$8.4 million
in the second quarter of 2014 and a decrease of 13.7% from
US$10.3 million in the third quarter
of 2013. The quarter-over-quarter (QoQ) increase was primarily
due to the seasonality as there were more non-school days in the
third quarter than in the second quarter. The year-over-year (YoY)
decrease was mainly driven by the decline in active paying
accounts.
Net revenues from offline businesses were US$3.5 million in the third quarter of 2014, an
increase of 61.5% from US$2.1 million
in the second quarter of 2014 and a decrease of 36.8% from
US$5.5 million in the third quarter
of 2013. The QoQ increase was primarily attributable to
box-office revenues from our feature film Seer IV: Magic Stone
Wars, partially offset by a decrease in sales of our toys
business. The YoY decrease was primarily due to a decrease in
our toys business and licensing business.
Cost of Services
Total cost of services was US$3.5
million in the third quarter of 2014, an increase of 17.1%
from US$3.0 million in the second
quarter of 2014 and a decrease of 22.0% from US$4.5 million in the third quarter of 2013.
Online business related costs were US$1.7
million in the third quarter of 2014, an increase of 3.7% as
compared with US$1.7 million in the
second quarter of 2014 and a decrease of 15.7% from US$2.1 million in the third quarter of
2013. The QoQ increase was primarily due to an increase in
bandwidth cost. The YoY decrease was primarily due to a
decrease in payroll cost, bandwidth cost and prepaid card
production cost.
Offline business related costs were US$1.8 million in the third quarter of 2014, an
increase of 34.0% from US$1.3 million
in the second quarter of 2014 and a decrease of 27.4% from
US$2.4 million in the third quarter
of 2013. The QoQ increase was primarily due to an increase in
film production cost, while partially offset by a decrease in costs
related to our toy business and licensing business. The YoY
decrease was primarily due to a decrease in costs related to our
toy business.
Gross Profit and Gross Margin
Gross profit was US$8.8 million in
the third quarter of 2014, an increase of 17.0% from US$7.5 million in the second quarter of 2014 and
a decrease of 21.7% from US$11.2
million in the third quarter of 2013.
Gross margin was 71.3% in the third quarter of 2014, as compared
with 71.3% in the second quarter of 2014 and 71.2% in the third
quarter of 2013.
Gross margin for the online business was 80.1% in the third
quarter of 2014, as compared with 79.8% in the second quarter of
2014 and 79.6% in the third quarter of 2013.
Gross margin for the offline business was 48.8% in the third
quarter of 2014, as compared with 38.3% in the second quarter of
2014 and 55.5% in the third quarter of 2013.
Total Operating Expenses
Total operating expenses were US$8.7
million in the third quarter of 2014, a decrease of 6.5%
from US$9.3 million in the second
quarter of 2014 and a decrease of 8.8% from US$9.5 million in the third quarter of 2013.
- Product development expenses were US$3.9
million in the third quarter of 2014, an increase of 14.2%
from US$3.4 million in the second
quarter of 2014 and an increase of 10.4% from US$3.6 million in the third quarter of
2013. The QoQ and YoY increases were primarily due to
increases in payroll expenses and outsourcing fees.
- Sales and marketing expenses were US$2.3
million in the third quarter of 2014, a decrease of 21.9%
from US$2.9 million in the second
quarter of 2014 and a decrease of 22.1% from US$2.9 million in the third quarter of
2013. The QoQ decrease was primarily due to a decrease in
promotional expenses associated with film and online virtual
worlds. The YoY decrease was primarily due to a decrease in
promotional expenses associated with film and animation.
- General and administrative expenses were US$4.1 million in the third quarter of 2014, an
increase of 32.1% from US$3.1 million
in the second quarter of 2014 and an increase of 6.2% from
US$3.8 million in the third quarter
of 2013. The QoQ increase was primarily due to an increase in
provision for bad debt and unrecoverable prepayments. The YoY
increase was primarily due to an increase in provision for bad debt
and unrecoverable prepayments, partially offset by a decrease in
indirect tax costs related to intercompany service charges.
Excluding bad debt and unrecoverable payments, G&A expenses
would have decreased 2.1% QoQ and 21.3% YoY.
Income/ (Loss) from Operations
Income from operations was US$0.1
million in the third quarter of 2014, compared with a loss
of US$1.8 million in the second
quarter of 2014 and a profit of US$1.7
million in the third quarter of 2013.
Impairment Loss on Investment in an Equity
Investee
Impairment loss on investment in an equity investee was
US$1.4 million in the third quarter
of 2014, related to a cost-method investee, Voozclub, in which the
Company invested in February 2013.
The Company assessed that there was an other-than-temporary
decrease in the investment value due to the deteriorating operating
and financial performance of such investee. In the second quarter
of 2014 and third quarter of 2013, the company did not incur any
impairment loss on investment.
Share of Loss from Equity Method Investment
Share of loss from equity method investment was US$0.1 million in the third quarter of 2014, as
compared with a loss of US$0.2
million in the second quarter of 2014 and a loss of
US$71.5 thousand in the third quarter
of 2013.
Income Tax Expense/(Benefit)
Income tax benefit was US$1.7
million in the third quarter of 2014, as compared with
US$0.4 million benefit in the second
quarter of 2014 and US$0.3 million
expense in the third quarter of 2013. The QoQ and YoY increases
were mainly due to the reversal of deferred tax liabilities on the
undistributed earnings of our variable interest entities
("VIEs").
Net Income/ (Loss)
Net income attributable to holders of ordinary shares was
US$1.2 million in the third quarter
of 2014, as compared with US$0.8
million loss in the second quarter of 2014 and US$2.4 million income in the third quarter of
2013.
Basic and diluted earnings per ADS were US$0.03 and US$0.03, respectively, in the third quarter of
2014, as compared with US$0.02 and
US$0.02 loss per ADS, respectively,
in the second quarter of 2014 and US$0.07 and US$0.06
earnings per ADS, respectively, in the third quarter of 2013.
Non-GAAP net income attributable to holders of ordinary shares
was US$3.2 million in the third
quarter of 2014, as compared with US$0.2
million net loss in the second quarter of 2014 and
US$2.9 million net income in the
third quarter of 2013.
Non-GAAP basic and diluted earnings per ADS were US$0.09 and US$0.09, respectively, in the third quarter of
2014, as compared with US$0.01 and
US$0.01 loss per ADS, respectively,
in the second quarter of 2014 and US$0.08 and US$0.08
earnings per ADS, respectively, in the third quarter of 2013.
Cash and Cash Equivalents
As of September 30, 2014, the
Company had US$109.0 million of cash
and cash equivalents, as compared with US$104.4 million as of June 30, 2014.
Capital Expenditures
Capital expenditures in the third quarter of 2014 were
US$0.3 million, as compared with
US$0.3 million in the second quarter
of 2014 and US$0.4 million in the
third quarter of 2013. Capital expenditures were used
primarily for (i) purchase of computer hardware and equipment, (ii)
purchase of intangible assets and (iii) purchase of franchises and
online game licensing rights for our pipeline.
Share-based Compensation
Share-based compensation was US$0.6
million for the third quarter of 2014 as compared with
US$0.6 million in the second quarter
of 2014 and US$0.5 million in the
third quarter of 2013.
Recent Business Highlights
- Through August to November 2014,
Taomee launched Reverse World in multiple countries and regions
other than mainland China,
including US, Europe, Taiwan, Thailand, Hong
Kong and Singapore. In Thailand, Reverse World ranked
as number three of both top-grossing games and most-downloaded
games on the iOS platform.
- In October 2014, Taomee held a
Mole-themed show in Century Park in Pudong District, Shanghai, and over 130,000 people attended the
show during the first weekend. The show event demonstrated the
enduring popularity of Mole's World, one of Taomee's most popular
franchises and its continuing attraction of consumers'
attention.
Outlook for Fourth Quarter of 2014
Net revenues of the fourth quarter of 2014 are expected to be
within in the range of US$6.3 million to
US$6.8 million, which represents a year-over-year decrease
of approximately 38% to 42%. This forecast reflects the Company's
current and preliminary view of the operating results, and is
subject to future changes.
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with
generally accepted accounting principles in the United States, or GAAP, this press release
presents non-GAAP net income attributable to the Company's
shareholders and non-GAAP earnings per ADS by excluding share-based
compensation and impairment charges from net income attributable to
the Company's shareholders and from the calculation of earnings per
ADS. The Company believes these non-GAAP financial measures are
important to help investors understand the Company's operating and
financial performance compare business trends among different
reporting periods on a consistent basis and assess the Company's
core operating results. The use of the above non-GAAP
financial measures has certain limitations. Share-based
compensation charge has been and will continue to be incurred and
is not reflected in the presentation of the non-GAAP financial
measures; it should be considered in the overall evaluation of our
results. None of the non-GAAP measures is a measure of net
income attributable to the Company's shareholders, operating
profit, operating performance or liquidity presented in accordance
with GAAP. We compensate for these limitations by providing the
relevant disclosure of our share-based compensation and impairment
charges in our reconciliations to the most directly comparable GAAP
financial measures, which should be considered when evaluating our
performance. These non-GAAP financial measures should be considered
in addition to financial measures prepared in accordance with GAAP,
but should not be considered a substitute for, or superior to,
financial measures prepared in accordance with
GAAP. Reconciliation of each of these non-GAAP financial
measures to the most directly comparable GAAP financial measure is
set forth at the end of this release.
Conference Call
The Company will host a conference call and live webcast at
7:00 a.m. ET (New York) on Tuesday,
November 25, 2014 (which is 8:00
p.m. in China on Tuesday,
November 25, 2014). A brief presentation to accompany the
conference call will be available on the Company's IR website
(http://ir.taomee.com/phoenix.zhtml?c=243417&p=irol-reportsannual)
before the call.
The dial-in details for the live conference call are:
|
Conference
ID:
|
27838435
|
|
U.S.
toll-free:
|
+1-800-742-9301
|
|
Hong Kong
toll-free:
|
800-906-648
|
|
International:
|
+61-283-733-610
|
|
China
Mainland:
|
400-120-3170
|
|
Passcode:
|
Taomee
|
A live webcast and archive of the conference call will be
available on the Investor Relations section of Taomee's website at
http://www.media-server.com/m/p/ubu7hjzd. A telephone replay of the
call will be available after the conclusion of the conference call
at 10:00 a.m. ET on November 25, 2014 through 07:59 a.m. ET, December 3,
2014. The dial-in details for the telephone replay are:
|
Conference
ID:
|
27838435
|
|
International:
|
+61-2-8199-0299
|
|
China:
|
400-632-2162
|
About Taomee Holdings Limited
Taomee Holdings Limited ("Taomee" or "the Company") is
China's leader in children's
entertainment and media. Its award winning content offerings are
both engaging and educational, endearing it to children, as well as
to parents and teachers. The Company was founded in 2007 with the
mission to bring joy and inspiration to children. Its popular
character franchises, including SEER and MOLE'S WORLD, are
distributed online via virtual worlds, web games and mobile
applications, as well as through traditional media, including
animated box office films, TV series, books and consumer products,
most notably interactive toys and trading cards. Its online
community regularly achieves top search ranking in China, Hong
Kong and Taiwan. Taomee has
been consistently recognized for its leadership and innovative
contributions to the children's market, including accolades from
China's Ministry of Culture and
the China Animation Association.
For more information, please visit:
http://www.taomee.com/en_taomee.html
- Visit online virtual world communities at www.61.com
- Watch animations and films at http://v.61.com/
- Download mobile games and applications at http://m.61.com/
- Share with other parents and caregivers at
http://mama.61.com/
Safe Harbor Statements
This press release contains statements that may constitute
"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, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Among other things, the
management's quotations and outlook information contain
forward-looking statements. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements to
be materially different from those expressed or implied by the
forward-looking statements. Potential risks and uncertainties
include, but are not limited to: the Company's business strategies
and initiatives as well as business plans; future business
development, results of operations and financial condition;
expected changes in revenues and certain cost or expense items;
expectations with respect to increased revenue growth and the
Company's ability to sustain profitability; the Company's services
and products under development or planning; the Company's ability
to attract users and further enhance the Company's brand
recognition; and trends and competition in the children's
entertainment and media market and industry, including those for
online entertainment. Further information regarding these and other
risks is included in Taomee's annual report on Form 20-F and other
documents filed with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
the press release, and the Company undertakes no obligation to
update any forward-looking statements to reflect subsequent
occurring events or circumstances, or changes in its expectations,
except as required under applicable law. Although the Company
believes that the expectations expressed in these forward looking
statements are reasonable, the Company cannot assure you that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
For further information, please contact
Angela Wang
Taomee Holdings Limited
+86-21-61280056 Ext 8651
ir@taomee.com
|
Taomee Holdings
Limited - Unaudited Consolidated Balance Sheets
|
|
|
|
|
|
In
USD
|
|
In
USD
|
|
September 30
|
|
June 30
|
|
2014
|
|
2014
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
$
108,961,025
|
|
$
104,352,136
|
|
Accounts receivable,
net
|
2,090,815
|
|
2,619,406
|
|
Inventory
|
580,637
|
|
567,341
|
|
Income tax
recoverable
|
1,777,370
|
|
1,508,084
|
|
Due from related
parties
|
2,605,940
|
|
2,348,378
|
|
Prepayments and other current assets
|
2,409,791
|
|
5,766,358
|
|
Deferred tax assets, current
|
4,128,439
|
|
4,128,238
|
|
Total current
assets
|
122,554,017
|
|
121,289,941
|
|
|
|
|
|
Investment in equity
investees
|
12,506,565
|
|
14,074,861
|
|
Property and
equipment, net
|
1,903,930
|
|
1,910,457
|
|
Prepayments for land
use rights and building purchase
|
2,989,458
|
|
2,989,312
|
|
Acquired intangible
assets
|
1,168,699
|
|
1,229,906
|
|
Other
assets
|
1,214,113
|
|
2,717,664
|
|
Total
assets
|
$
142,336,782
|
|
$
144,212,141
|
|
|
|
|
|
LIABILITIES
AND EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts payable
|
$
2,044,158
|
|
$
2,067,617
|
|
Advance from customers
|
9,003,129
|
|
9,797,917
|
|
Due to related parties
|
571,702
|
|
461,337
|
|
Deferred revenue
|
11,681,350
|
|
12,048,012
|
|
Deferred tax liabilities, current
|
236,495
|
|
1,742,161
|
|
Accrued expenses and other current liabilities
|
4,090,763
|
|
5,314,824
|
|
Total current
liabilities
|
27,627,597
|
|
31,431,868
|
|
|
|
|
|
Equity
|
|
|
|
|
Taomee Holdings
Limited shareholders' equity
|
|
|
|
|
Ordinary shares
($0.00002 par value; 875,000,000 shares
authorized; 750,390,077 and 747,974,297 shares issued;
710,416,536 and 708,000,756 outstanding as of September 30,
2014 and June 30, 2014, respectively)
|
15,008
|
|
14,960
|
|
Treasury stock (at cost)
|
(11,011,879)
|
|
(11,011,879)
|
|
Additional paid-in capital
|
75,815,758
|
75,280,861
|
|
Retained earnings
|
45,696,507
|
|
44,530,764
|
|
Accumulated other comprehensive income
|
3,915,063
|
|
3,774,096
|
|
Taomee Holdings
Limited shareholders' equity
|
114,430,457
|
|
112,588,802
|
|
Noncontrolling
interests
|
278,728
|
|
191,471
|
|
Total
equity
|
$
114,709,185
|
|
$
112,780,273
|
|
|
|
|
|
TOTAL LIABILITIES
AND EQUITY
|
$
142,336,782
|
|
$
144,212,141
|
|
Taomee Holdings
Limited - Unaudited Consolidated Statements of Operations
|
|
|
|
|
|
|
|
In USD, except for
share data
For three
months ended
|
|
|
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
|
|
2014
|
|
2014
|
|
2013
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
Online business, net
|
|
$
8,854,919
|
|
$
8,385,495
|
|
$ 10,260,703
|
|
|
Offline business, net
|
|
3,488,097
|
|
2,159,864
|
|
5,518,261
|
|
|
Total net
revenues
|
|
12,343,016
|
|
10,545,359
|
|
15,778,964
|
|
|
|
|
|
|
|
|
|
|
Cost of
services
|
|
|
|
|
|
|
|
|
Online business
|
|
(1,761,265)
|
|
(1,697,608)
|
|
(2,089,815)
|
|
|
Offline business
|
|
(1,785,338)
|
|
(1,332,060)
|
|
(2,457,707)
|
|
|
Total cost of
services
|
|
(3,546,603)
|
|
(3,029,668)
|
|
(4,547,522)
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
8,796,413
|
|
7,515,691
|
|
11,231,442
|
|
|
|
|
|
|
|
|
|
|
Operating income
(expenses):
|
|
|
|
|
|
|
|
|
Product development
|
|
(3,941,208)
|
|
(3,449,780)
|
|
(3,568,462)
|
|
|
Sales and marketing
|
|
(2,280,113)
|
|
(2,920,316)
|
|
(2,925,398)
|
|
|
General and administrative
|
|
(4,059,122)
|
|
(3,072,832)
|
|
(3,820,463)
|
|
|
Other operating income
|
|
1,585,129
|
|
147,346
|
|
779,381
|
|
|
Total operating
expenses
|
|
(8,695,314)
|
|
(9,295,582)
|
|
(9,534,942)
|
|
|
|
|
|
|
|
|
|
|
Income
(Loss) from operations
|
|
101,099
|
|
(1,779,891)
|
|
1,696,500
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
642,387
|
|
639,340
|
|
906,470
|
|
|
Other income
(expenses), net
|
|
186,162
|
|
109,650
|
|
204,232
|
|
|
Impairment loss on
investment in an equity investee
|
|
(1,400,000)
|
|
-
|
|
-
|
|
|
Income/(Loss)
before income taxes and share of profit/(loss) in equity
method investments
|
|
(470,352)
|
|
(1,030,901)
|
|
2,807,202
|
|
|
|
|
|
|
|
|
|
|
Income tax
benefit/(expense)
|
|
1,708,088
|
|
374,068
|
|
(313,048)
|
|
|
|
|
|
|
|
|
|
|
Share of
profit/(loss) in equity method investments
|
|
(104,567)
|
|
(180,905)
|
|
(71,459)
|
|
|
Net
income/(loss)
|
|
1,133,169
|
|
(837,738)
|
|
2,422,695
|
|
|
|
|
|
|
|
|
|
|
Less: Net
income/(loss) attributable to non-controlling interest
|
|
(32,574)
|
|
(17,806)
|
|
19,586
|
|
|
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to holders of ordinary shares
|
|
$ 1,165,743
|
|
$ (819,932)
|
|
$ 2,403,109
|
|
|
Earnings/(Loss)
per ADS
|
|
|
|
|
|
|
|
|
-Basic
|
|
$
0.03
|
|
$
(0.02)
|
|
$
0.07
|
|
|
-Diluted
|
|
$
0.03
|
|
$
(0.02)
|
|
$
0.06
|
|
|
Weighted average
number of shares used in calculation
|
|
|
|
|
|
|
|
|
- Basic
|
|
708,630,255
|
|
710,655,033
|
|
733,988,549
|
|
|
- Diluted
|
|
716,521,745
|
|
710,655,033
|
|
745,799,224
|
|
|
Weighted average
number of ADS used in calculation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
35,431,513
|
|
35,532,752
|
|
36,699,427
|
|
|
- Diluted
|
|
35,826,087
|
|
35,532,752
|
|
37,289,961
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taomee Holdings
Limited - Unaudited Consolidated Other Comprehensive Income
|
|
|
|
In
USD,
For three months
ended
|
|
September 30,
2014
|
June 30,
2014
|
September 30,
2013
|
|
Net
income/(loss)
|
$ 1,133,169
|
$ (837,738)
|
$
2,422,695
|
|
Other comprehensive
income/(loss), net of tax
|
|
|
|
|
Foreign currency
translation adjustments
|
140,967
|
(17,037)
|
294,798
|
|
|
|
|
|
Comprehensive
income/(loss)
|
1,274,136
|
(854,775)
|
2,717,493
|
|
Comprehensive
income/(loss) attributable to noncontrolling interest
|
(32,574)
|
(17,806)
|
19,586
|
|
|
|
|
|
Comprehensive
income/(loss) attributable to Taomee Holdings Limited
|
$
1,306,710
|
$
(836,969)
|
$
2,697,907
|
|
|
|
|
|
Taomee Holdings
Limited-Reconciliation of Non-GAAP and GAAP Results
|
|
|
|
|
|
In USD, except for
share data
For three
months ended
|
|
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
|
2014
|
|
2014
|
|
2013
|
|
Reconciliation
from Non-GAAP measures to GAAP measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) attributable to holders of ordinary
shares
|
|
$ 3,160,468
|
|
$ (235,964)
|
|
$ 2,883,239
|
|
Share-based
compensation
|
|
(594,725)
|
|
(583,968)
|
|
(480,130)
|
|
Impairment loss on
investment in an equity investee
|
|
(1,400,000)
|
|
-
|
|
-
|
|
GAAP net
income/(loss) attributable to holders of ordinary shares
|
|
$ 1,165,743
|
|
$ (819,932)
|
|
$ 2,403,109
|
|
|
|
|
|
|
|
|
Non-GAAP
earnings/(loss) per ADS
|
|
|
|
|
|
|
|
-Basic
|
|
$
0.09
|
|
$
(0.01)
|
|
$
0.08
|
|
-Diluted
|
|
$
0.09
|
|
$
(0.01)
|
|
$
0.08
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/taomee-reports-third-quarter-2014-unaudited-financial-results-300000936.html
SOURCE Taomee Holdings Limited