Yucheng Reports Unaudited Fourth Quarter and Full Year 2011 Financial Results
/PRNewswire-Asia-FirstCall / -- Yucheng Technologies Limited (Nasdaq: YTEC) ("Yucheng," the "Company," "we," "us" and "our"), a leading provider of IT solutions to the financial services industry in China, today announced unaudited financial results for the fourth quarter and full year ended December 31, 2011.Fourth quarter software & solutions revenues of US$27.0 million, an increase of 43.9% year over year; Fourth quarter net revenue of US$29.6 million, an increase of 35.1% year over year, and fourth quarter net revenue (Non-GAAP)(1) of US$29.7 million, an increase of 35.7% year over year; Fourth quarter operating income of US3.9 million, an increase of 38.9% year over year, and fourth quarter operating income(Non-GAAP)(4) of US$4.3million, an increase of 20.0% year over year; Fourth quarter operating margin of revenue of 13.1%, as compared to 12.7% in the prior year period, and fourth quarter operating margin of net revenue (Non-GAAP)(5) of 14.5%, as compared to 16.4% in the prior year period; Fourth quarter net income of US$3.5 million, or US$0.17, as compared to net loss of US$1.6 million, or loss of US$0.08 per share in the prior year period, and fourth quarter net income (Non-GAAP)(6) of US$3.9 million, or US$0.20 per share, as compared to net loss of US$0.8 million, or loss of US$0.04 per share in the prior year period; Full year total revenue (Non-GAAP) guidance for FY 2012 of US$90.0-92.0 million and EPS (Non-GAAP) of US$0.50.
