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 Tracking 1267 U.S. listed China Stocks and Counting...
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 51job Inc. (NASDAQ:JOBS)

Friday, November 7, 2014
Comments & Business Outlook

Third Quarter 2014 Financial Results

  • Total revenues increased 13.0% over Q3 2013 to RMB474.0 million (US$77.2 million), exceeding the Company's guidance range.
  • Non-GAAP adjusted fully diluted earnings per share were RMB2.52 (US$0.41), exceeding the Company's guidance range vs. last years same quarter of RMB2.28 (US$0.37)

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Our online business maintained a solid growth trajectory in the third quarter. Hiring demand remained positive and we continued to focus on our customer acquisition efforts. Despite operational adjustments we are making to our business process outsourcing services which have affected new client engagements in 2014, the performance of our other HR services area remained solid as we improved cross-selling of other value-added services, primarily our training services. We remain confident that the progress we have made in this year of investment and transition positions us to extend our market leadership, to capture greater opportunities in the HR space in China and to deliver sustainable and profitable returns to our shareholders over the long term."

Business Outlook

Based on current market conditions and factoring in the VAT policy change, the Company's total revenues target for the fourth quarter of 2014 is in the estimated range of RMB515 million to RMB530 million (US$83.9 million to US$86.3 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation, and any mark-to-market gain or loss associated with a change in fair value of convertible notes, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the fourth quarter of 2014 is in the estimated range of RMB2.60 to RMB2.80 (US$0.42 to US$0.46) per share. The Company expects total share-based compensation expense in the fourth quarter of 2014 to be in the estimated range of RMB21 million to RMB22 million (US$3.4 million to US$3.6 million).


Tuesday, August 12, 2014
Comments & Business Outlook

Second Quarter 2014 Financial Results

  • Total revenues increased 13.1% over Q2 2013 to RMB457.5 million (US$73.8 million), exceeding the Company's guidance range
  • Fully diluted earnings per ADS for the second quarter of 2014 were RMB1.72 (US$0.28) compared with RMB3.98 in the second quarter of 2013.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "In the second quarter, we made good progress in our customer acquisition efforts as we saw robust expansion of the unique employer user base in our online business. We were also pleased with the performance of our other HR services area which, despite operational adjustments we are currently undergoing in our HR outsourcing business, maintained solid growth and was lifted by increased contribution of our training and other services. We remain focused on our long-term vision to become the most comprehensive, end-to-end HR services provider in China and are pursuing initiatives, investments and opportunities to strengthen our market leadership and achieve this goal."

Business Outlook

Based on current market conditions and factoring in a full-quarter effect of the VAT policy change, the Company's total revenues target for the third quarter of 2014 is in the estimated range of RMB455 million to RMB470 million (US$73.3 million to US$75.8 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation, and any mark-to-market gain or loss associated with a change in fair value of convertible notes, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the third quarter of 2014 is in the estimated range of RMB2.25 to RMB2.45 (US$0.36 to US$0.39) per common share. The Company expects total share-based compensation expense in the third quarter of 2014 to be in the estimated range of RMB21 million to RMB22 million (US$3.4 million to US$3.5 million).


Friday, July 18, 2014
Share Structure

SHANGHAI, July 18, 2014 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS) ("51job" or the "Company"), a leading provider of integrated human resource services in China, announced today that the Company will change the ratio of its American depositary share ("ADS") to common share from one (1) ADS to two (2) common shares to one (1) ADS to one (1) common share.

The record date for the ADS ratio change is July 31, 2014, at which time 51job's ADS holders will be entitled to receive one additional ADS for every one ADS held at the close of business on that date (U.S. EDT). For 51job's ADS holders, this ratio change will have the same effect as a 2-for-1 ADS split. There will be no change to 51job's underlying common shares. Furthermore, no action by ADS holders is required to effect the ratio change. The effect of the ratio change on the ADS trading price is expected to take place on August 8, 2014 (U.S. EDT).


Thursday, May 8, 2014
Comments & Business Outlook

First Quarter 2014 Financial Results:

  • Total revenues increased 14.9% over Q1 2013 to RMB437.2 million (US$70.3 million), within the Company's guidance range
  • Non-GAAP adjusted fully diluted earnings per common share were RMB2.26 (US$0.36) in the first quarter of 2014 compared with RMB2.07 in the first quarter of 2013. Non-GAAP adjusted fully diluted earnings per ADS in the first quarter of 2014 were RMB4.53 (US$0.73) compared with RMB4.14 in the first quarter of 2013.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "With recruitment demand and hiring activity maintaining positive trends so far this year, we pushed forward on the execution of our strategic initiatives and achieved solid first quarter results. We continued to place a heavy emphasis on our customer acquisition and marketing efforts, which helped drive the number of unique employers using our online services to a new quarterly record. Building on the strength of our business fundamentals, financial resources and market leadership, we will stay aggressive in 2014 with investments that will position 51job to capture greater opportunities in the HR services industry and realize sustainable long-term growth."

Business Outlook

Based on current market conditions and factoring in the value-added tax ("VAT") policy change which will take effect on June 1 (as described below), the Company's revenue target for the second quarter of 2014 is in the estimated range of RMB440 million to RMB455 million (US$70.8 million to US$73.2 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation, any period-end mark-to-market gain or loss associated with the convertible senior notes (as described below), and the expenses incurred for the issuance of the notes as well as the related tax impact of these items, the Company's non-GAAP fully diluted earnings target for the second quarter of 2014 is in the estimated range of RMB2.15 to RMB2.35 per common share (US$0.69 to US$0.76 per ADS). The Company expects total share-based compensation expense in the second quarter of 2014 to be in the estimated range of RMB20 million to RMB21 million (US$3.2 million to US$3.4 million).


Thursday, April 3, 2014
Deal Flow

SHANGHAI, April 3, 2014 /PRNewswire/ -- 51job, Inc. ("51job") (Nasdaq: JOBS) announced today that it proposes to offer, subject to market conditions and other factors, US$150 million in aggregate principal amount of convertible senior notes due 2019 (the "notes"). 51job intends to grant to the initial purchasers a 30-day option to purchase up to an additional US$22.5 million in aggregate principal amount of "), enotes.

The notes will be convertible into 51job's American depositary shares ("ADSsach representing, as of the date of this press release, two common shares of 51job, at the holder's option in certain circumstances. Upon conversion, 51job will, at its election, pay or deliver, as the case may be, cash, ADSs or a combination of cash and ADSs. The notes will mature on April 15, 2019. Subject to certain exceptions, the notes may not be redeemed by 51job. Holders will have the right to require 51job to repurchase the notes on April 15, 2017 or upon the occurrence of a fundamental change.

51job expects to use a portion of the net proceeds from this offering to pay the aggregate premium of the zero-strike call option transactions (the "call options") with one or more of the initial purchasers or their affiliates ("option counterparties"). 51job intends to use the remaining net proceeds for general corporate purposes, including working capital needs and potential acquisitions of complementary businesses.

In connection with the notes offering, 51job intends to enter into the call options to facilitate privately negotiated transactions by which investors in the notes will be able to hedge their investment. 51job has been advised that, in connection with establishing their initial hedge of the call options, the option counterparties (or their affiliates) expect to enter into one or more derivative transactions with respect to the ADSs with purchasers of the notes concurrently with or after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of the ADSs or the notes at that time. In addition, the option counterparties (or their affiliates) may modify their hedge positions by entering into or unwinding one or more derivative transactions with respect to the ADSs and/or purchasing or selling ADSs or other securities of 51job in secondary market transactions at any time, including following the pricing of the notes and shortly after the maturity of the notes (and are likely to unwind their derivative transactions and/or purchase or sell ADSs in connection with any conversion, repurchase or redemption of the notes). These activities could also cause an increase or avoid a decrease in the market price of the ADSs or the notes.


Friday, February 21, 2014
Comments & Business Outlook

Fourth Quarter 2013 Financial Results:

  • Total revenues increased 18.9% over Q4 2012 to RMB472.4 million (US$78.0 million), exceeding the Company's guidance range
  • Fully diluted earnings per ADS for the fourth quarter of 2013 were RMB5.13 (US$0.85) compared with RMB4.11 in the fourth quarter of 2012.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "We are pleased to close 2013 with record revenues and net income in the fourth quarter. Through successful strategy execution and increased sales and marketing investments, which we expect will generate even greater returns in the future, we accelerated the growth of our online business and significantly expanded our customer base over the past year. We expect to carry solid momentum into 2014 as we focus on efforts to further extend our market leadership in the HR services industry and strengthen our value proposition to employers in China."

Business Outlook

Based on current market conditions and a year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the first quarter of 2014 is in the estimated range of RMB435 million to RMB450 million (US$71.9 million to US$74.3 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the first quarter of 2014 is in the estimated range of RMB1.95 to RMB2.15 per common share (US$0.64 to US$0.71 per ADS). The Company expects total share-based compensation expense in the first quarter of 2014 to be approximately RMB19 million to RMB20 million (US$3.1 million to US$3.3 million).


Thursday, November 7, 2013
Comments & Business Outlook

Third Quarter 2013 Unaudited Financial Results

  • Total revenues for the third quarter ended September 30, 2013 were RMB419.6 million (US$68.6 million), an increase of 12.3% fromRMB373.7 million for the same quarter in 2012.
  • Non-GAAP adjusted fully diluted earnings per ADS in the third quarter of 2013 were RMB4.56 (US$0.75) compared with RMB4.27 in the third quarter of 2012.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "We continued to observe solid market demand for our recruitment services in the third quarter as employers stayed active in their hiring activities. Our increased investments in sales and marketing are generating meaningful returns with the pace of customer acquisition accelerating, which not only strengthens our online market leadership but also positions us for greater cross-selling opportunities in our other HR services. We remain focused on the ongoing execution of our strategic initiatives to realize and monetize the large potential of the HR services industry in China for our shareholders."

Business Outlook

Based on current market conditions and a year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the fourth quarter of 2013 is in the estimated range of RMB445 million to RMB460 million (US$72.7 million to US$75.2 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the fourth quarter of 2013 is in the estimated range of RMB2.50 to RMB2.65 per common share (US$0.82 to US$0.87 per ADS). The Company expects total share-based compensation expense in the fourth quarter of 2013 to be approximately RMB18 million to RMB19 million (US$2.9 million to US$3.1 million).


Friday, August 9, 2013
Comments & Business Outlook

Second Quarter 2013 Financial Results:

  • Total revenues increased 12.2% over Q2 2012 to RMB404.4 million (US$65.9 million), within the Company's guidance range
  • Online recruitment services revenues increased 14.3% over Q2 2012 to RMB269.5 million (US$43.9 million)
  • Gross margin increased to 73.7% compared with 72.6% in Q2 2012
  • Income from operations increased 5.9% over Q2 2012 to RMB125.5 million (US$20.4 million)
  • Fully diluted earnings per common share were RMB1.99 (US$0.65 per ADS)
  • Excluding share-based compensation expense and loss from foreign currency translation as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB2.28 (US$0.74 per ADS), within the Company's guidance range

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Building on the momentum of an active post-Chinese New Year period, market demand for our online recruitment services maintained a positive trend in the second quarter. Through strengthened sales and marketing efforts, we made further strides in expanding our corporate customer base, achieving 25% year-over-year growth in the number of unique online employers. Recent feedback we have received from enterprises continues to be favorable regarding their hiring plans for white collar workers. We remain optimistic about market outlook as we focus on strategy execution and capturing opportunities in the evolving HR services industry inChina."

Business Outlook

Based on current market conditions and an expected significant year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the third quarter of 2013 is in the estimated range of RMB405 million to RMB420 million (US$66.0 million to US$68.4 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the third quarter of 2013 is in the estimated range of RMB2.10 to RMB2.25 per common share (US$0.68 to US$0.73 per ADS). The Company expects total share-based compensation expense in the third quarter of 2013 to be approximately RMB18 million to RMB19 million (US$2.9 million to US$3.1 million).


Friday, May 10, 2013
Comments & Business Outlook

First Quarter 2013 Financial Results:

  • Total revenues of RMB380.4 million (US$61.2 million), a 0.1% decrease compared to Q1 2012 and within the Company's guidance range
  • Fully diluted earnings per common share were RMB1.82 (US$0.59 per ADS)
  • Excluding share-based compensation expense and loss from foreign currency translation as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB2.07 (US$0.67per ADS), within the Company's guidance range

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Although the lateChinese New Year holiday meaningfully delayed the recruitment peak season and affected the amount of revenues we were able to capture in the first quarter, we have observed a solid increase in hiring activity and improved sentiment among employers in 2013. The acceleration in the growth of online employers was especially encouraging as we stepped up our customer acquisition efforts and strengthened our market leadership position. For this year, we remain focused on expanding our customer base, deepening relationships with HR departments for cross-selling opportunities, and innovating new products to increase user engagement and effectiveness for our corporate clients and individuals alike."

Business Outlook

Based on current market conditions and an expected year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the second quarter of 2013 is in the estimated range of RMB395 million to RMB410 million (US$63.6 million to US$66.0 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the second quarter of 2013 is in the estimated range of RMB2.20 to RMB2.35 per common share (US$0.71 to US$0.76 per ADS). The Company expects total share-based compensation expense in the second quarter of 2013 to be approximately RMB15 million to RMB16 million (US$2.4 million to US$2.6 million).


Monday, March 18, 2013
Resolution of Legal Issues

SHANGHAI, March 18, 2013 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS), a leading provider of integrated human resource services in China, announced today that the board of directors has appointed Mr. Li-Lan Cheng as an independent director and a member of the audit committee.

Li-Lan Cheng is the chief operating officer of E-House (China) Holdings Limited, a real estate services company listed on the New York Stock Exchange, since April 2012 and served as its chief financial officer from November 2006 to April 2012. Prior to joining E-House, Mr. Cheng served from 2005 to 2006 as the chief financial officer of SouFun Holdings Limited, a leading real estate Internet portal and a leading home furnishing website in China. From 2002 to 2004, Mr. Cheng served as an executive director and the chief financial officer of SOHO China Limited, a real estate developer inBeijing. From 1997 to 2002, he was an assistant director and the head of Asian transportation sector investment banking group of ABN AMRO Asia. Mr. Cheng is also an independent director of Country Style Cooking Restaurant Chain Co. Ltd., a quick service restaurant chain listed on the New York Stock Exchange, and Le Gaga Holdings Limited, a leading greenhouse vegetable producer in China listed on the Nasdaq Stock Market. Mr. Cheng received his Bachelors degree in Economics from Swarthmore College and his Ph.D. degree in Economics from theMassachusetts Institute of Technology. Mr. Cheng is a chartered financial analyst.

"We warmly welcome Li-Lan as a director. His extensive experience and financial background will add significant value to our board," said Rick Yan, President and Chief Executive Officer of 51job, Inc.

Pursuant to this appointment, the Company's board of directors is now comprised of five members, a majority of whom are independent directors, and its audit committee has three members, all of whom are independent directors. As a result, the Company has returned to full compliance with Nasdaq listing requirements.

In addition, David K. Chao, an independent director who has been a member of the Company's board since 2000, was elected as chairman of the board.


Thursday, February 21, 2013
Comments & Business Outlook

Fourth Quarter 2012 Financial Highlights:

  • Total revenues increased 7.4% over Q4 2011 to RMB397.3 million (US$63.8 million), exceeding the Company's guidance
  • Online recruitment services revenues increased 9.6% over Q4 2011 to RMB237.9 million (US$38.2 million)
  • Gross margin was 70.6% compared with 71.2% in Q4 2011
  • Income from operations increased 6.5% over Q4 2011 to RMB119.4 million (US$19.2 million)
  • Fully diluted earnings per common share were RMB2.06 (US$0.66 per ADS)

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Against the backdrop of an uncertain economic climate in China, weaker hiring demand and the accelerated wind down of our print operations, we are pleased to have achieved revenue growth and improved profitability in 2012. With a sharp focus on executing our product development and sales strategies, we made meaningful progress in our online business, expanding our customer base and enhancing the user experience of job seekers. We also benefited from the increasing contribution from our other HR services, which maintained a healthy growth trajectory despite volatile market conditions. Our initiatives for 2013 are centered on further strengthening our position as the leading platform connecting employers and individuals in China, and we look forward to capturing exciting opportunities over the coming year."

Business Outlook

For the first quarter of 2013, the Company's business outlook will be impacted by the late arrival of the Chinese New Year holiday relative to 2012, which will materially affect seasonality and year-over-year comparisons. Based on current market conditions and an expected significant year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the first quarter of 2013 is in the estimated range of RMB380 million to RMB400 million (US$61.0 million to US$64.2 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the first quarter of 2013 is in the estimated range of RMB1.95 to RMB2.20 per common share (US$0.63 to US$0.71 per ADS). The Company expects total share-based compensation expense in the first quarter of 2013 to be approximately RMB13 million to RMB14 million (US$2.1 million to US$2.2 million).


Friday, December 7, 2012
Investor Alert

The Company informed Nasdaq of its material non-compliance with Nasdaq's corporate governance rules, and the Company received a letter dated December 6, 2012 from Nasdaq stating that the Company no longer complies with Nasdaq's independent director and audit committee requirements as set forth in Listing Rules 5605(b)(1) and 5605(c)(2)(A), respectively.

The letter also stated that, consistent with Listing Rules 5605(b)(1)(A) and 5605(c)(4)(B), Nasdaq will provide the Company a cure period in order to regain compliance. The Company intends to regain full compliance by adding a new independent director before the earlier of the Company's next annual shareholders meeting or December 6, 2013. If the next annual shareholders meeting is held before June 4, 2013, then the Company will evidence compliance no later than June 4, 2013.


Comments & Business Outlook

SHANGHAI, December 7, 2012 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS), a leading provider of integrated human resource services in China, announced the results of its annual general meeting ("AGM") of shareholders held inShanghai on December 6, 2012.

At the meeting, shareholders resolved to elect each of the following four individuals to the Company's Board of Directors until the close of its next annual general meeting of shareholders: David K. Chao, James Jianzhang Liang,Kazumasa Watanabe and Rick Yan. Mr. Donald L. Lucas did not seek re-election at the AGM, and therefore one vacancy currently exists in the Company's Board of Directors.

Following the results of the AGM, the Company informed Nasdaq of its material non-compliance with Nasdaq's corporate governance rules, and the Company received a letter dated December 6, 2012 from Nasdaq stating that the Company no longer complies with Nasdaq's independent director and audit committee requirements as set forth in Listing Rules 5605(b)(1) and 5605(c)(2)(A), respectively.

The letter also stated that, consistent with Listing Rules 5605(b)(1)(A) and 5605(c)(4)(B), Nasdaq will provide the Company a cure period in order to regain compliance. The Company intends to regain full compliance by adding a new independent director before the earlier of the Company's next annual shareholders meeting or December 6, 2013. If the next annual shareholders meeting is held before June 4, 2013, then the Company will evidence compliance no later than June 4, 2013.


Thursday, November 8, 2012
Comments & Business Outlook

Third Quarter 2012 Results

  • Total revenues increased 8.9% over Q3 2011 to RMB373.7 million (US$59.5 million), exceeding the Company's guidance
  • Excluding share-based compensation expense and gain from foreign currency translation as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB2.13 (US$0.68 per ADS), exceeding the Company's guidance vs. US$0.50 in prior year.
Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Through solid sales execution, we successfully increased the corporate customer count in our online business while maintaining a relatively unchanged level of average revenue per customer in the third quarter. Although employers remain cautious, we have observed a fairly stable and normalized pattern of hiring activity over the past several months. During this period as we all await more clarity in the direction and development of the Chinese economy, we continue to balance strategic investments and operational efficiency measures that we believe will position us for strong growth and profitability when market conditions improve."

Business Outlook

Based on current market conditions and an estimated year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the fourth quarter of 2012 is in the estimated range of RMB380 million to RMB395 million (US$60.5 million to US$62.9 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the fourth quarter of 2012 is in the estimated range of RMB2.05 to RMB2.20 per common share (US$0.65 to US$0.70 per ADS). The Company expects total share-based compensation expense in the fourth quarter of 2012 to be approximately RMB13 million to RMB14 million (US$2.1 million to US$2.2 million).



Friday, August 10, 2012
Comments & Business Outlook

Second Quarter 2012 Financial Highlights:

  • Total revenues increased 8.4% over Q2 2011 to RMB360.4 million (US$56.7 million), within the Company's guidance
  • Online recruitment services revenues increased 17.6% over Q2 2011 to RMB235.9 million (US$37.1 million)
  • Gross margin increased to 72.6% compared with 71.8% in Q2 2011
  • Income from operations increased 8.8% over Q2 2011 to RMB118.4 million (US$18.6 million)
  • Fully diluted earnings per common share were RMB1.93 (US$0.61 per ADS)
  • Excluding share-based compensation expense and gain from foreign currency translation as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB2.10 (US$0.66per ADS), exceeding the Company's guidance
  • Cash and short-term investments increased to RMB2,280.4 million (US$358.9 million) as of June 30, 2012

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Amid increased economic uncertainty in China, we observed softer market demand for our recruitment services in the second quarter. Despite these stronger headwinds, we moved ahead in executing our key business initiatives, adding new corporate customers and extending our sales coverage. In addition, we were pleased that the continued, rising contribution of our other HR services area offset some of the recruitment demand volatility. While employers remain cautious about hiring, we will focus our efforts on product development and service efficiency to strengthen our market position and company fundamentals for sustainable, long-term growth."

Business Outlook

Based on current market conditions and factoring in a significant year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the third quarter of 2012 is in the estimated range of RMB355 million to RMB370 million (US$55.9 million to US$58.2 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the third quarter of 2012 is in the estimated range of RMB1.95 to RMB2.10 per common share (US$0.61 to US$0.66 per ADS). The Company expects total share-based compensation expense in the third quarter of 2012 to be approximately RMB13 million to RMB14 million (US$2.0 million to US$2.2 million).


Thursday, May 10, 2012
Comments & Business Outlook

First Quarter 2012 Financial Highlights:

  • Total revenues increased 17.3% over Q1 2011 to RMB380.8 million (US$60.5 million), within the Company's guidance range of RMB375 million to RMB390 million 
  • Online recruitment services revenues increased 32.6% over Q1 2011 to RMB 229.1 million (US$36.4 million) 
  • Gross margin expanded to 72.4% compared with 70.5% in Q1 2011
  • Income from operations increased 21.0% over Q1 2011 to RMB130.8 million (US$20.8 million)
  • Fully diluted earnings per common share were RMB2.03 (US$0.64 per ADS)
  • Excluding share-based compensation expense and loss from foreign currency translation as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB2.23 (US$0.71per ADS), exceeding the Company's guidance range of RMB2.05 to RMB2.20
  • Cash and short-term investments increased to RMB2,222.4 million (US$352.9 million) as of March 31, 2012

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "We are pleased to start off the year with solid financial results driven by healthy employer demand for our online and other HR services in the first quarter. Although concerns about macroeconomic conditions continue to weigh on enterprises in China, we made steady progress in expanding our customer base and geographic reach. Leveraging our competitive advantages in brand recognition, product effectiveness, service quality and execution capability, we believe that we are strongly positioned for profitable growth in 2012 and beyond."

Business Outlook

Based on current market conditions and factoring in a significant year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the second quarter of 2012 is in the estimated range of RMB360 million to RMB375 million (US$57.2 million to US$59.5 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the second quarter of 2012 is in the estimated range of RMB1.90 to RMB2.05 per common share (US$0.60 to US$0.65 per ADS). The Company expects total share-based compensation expense in the second quarter of 2012 to be approximately RMB14 million to RMB15 million (US$2.2 million to US$2.4 million).


Thursday, February 23, 2012
Comments & Business Outlook

Fourth Quarter 2011 Results

  • Total revenues increased 22.6% over Q4 2010 to RMB369.8 million (US$58.8 million), within the Company's guidance range of RMB360 million to RMB370 million 
  • Online recruitment services revenues increased 39.1% over Q4 2010 to RMB216.9 million (US$34.5 million)
  • Gross margin expanded to 71.2% compared with 65.4% in Q4 2010
  • Income from operations increased 44.2% over Q4 2010 to RMB112.1 million (US$17.8 million)
  • Fully diluted earnings per common share were RMB1.93 (US$0.61 per ADS)
  • Excluding share-based compensation expense and loss from foreign currency translation as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB2.14 (US$0.68 per ADS), exceeding the Company's guidance range of RMB1.85 to RMB1.95

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Driven by continued strength in our online business and increasing contribution from our other HR services, we ended the year on a high note with record revenues and net income in the fourth quarter. In 2012, we are moving ahead confidently in executing our growth plan and key initiatives focused on product innovation, new customer acquisition and geographic expansion. Guided by our constant goal to deliver the most effective, best-in-class set of HR solutions to employers in China, we believe that we are very well positioned to capture new revenue opportunities, extend our market leadership position and create greater value for our shareholders."

Business Outlook

Based on current market conditions and factoring in a significant year-over-year decline in print revenues, the Company's revenue target for the first quarter of 2012 is in the estimated range of RMB375 million to RMB390 million (US$59.6 million to US$62.0 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the first quarter of 2012 is in the estimated range of RMB2.05 to RMB2.20 per common share (US$0.65 to US$0.70 per ADS). The Company expects aggregate share-based compensation expense in the first quarter of 2012 to be approximately RMB12 million (US$1.9 million).


Thursday, November 10, 2011
Comments & Business Outlook

Third Quarter 2011 Results

  • Total revenues increased 26.4% over Q3 2010 to RMB343.3 million (US$53.8 million), within the Company's guidance range of RMB335 million to RMB345 million 
  • Online recruitment services revenues increased 49.0% over Q3 2010 to RMB212.7 million (US$33.4 million)
  • Gross margin expanded to 72.4% compared with 68.4% in Q3 2010
  • Income from operations increased 62.8% over Q3 2010 to RMB112.2 million (US$17.6 million)
  • Fully diluted earnings per common share were RMB1.65 (US$0.52 per ADS)
  • Excluding share-based compensation expense and loss from foreign currency translation as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB1.89 (US$0.59 per ADS)
  • Cash and short-term investments increased to RMB1,919.4 million (US$300.9 million) as of September 30, 2011


 

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Led by the diligent execution of our strategic plan, we achieved solid revenue growth and profitability in the third quarter. In the online business, we extended our dedicated sales coverage, which now serves 75 cities in China, and meaningfully increased average spending per employer. We also saw strong growth in our other HR services as our outsourcing and training services gained traction with customers. A longstanding leader and trusted brand in the HR services market in China, we continue to focus on opportunities to consolidate our position, drive profitable growth and deliver returns to our shareholders."

Business Outlook

For the fourth quarter of 2011, based on current market and operating conditions, the Company's revenue target is in the estimated range of RMB360 million to RMB370 million (US$56.4 million to US$58.0 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the fourth quarter of 2011 is in the estimated range of RMB1.85 to RMB1.95 per common share (US$0.58 to US$0.61 per ADS). The Company expects aggregate share-based compensation expense in the fourth quarter of 2011 to be in the estimated range of RMB11 million to RMB12 million (US$1.7 million to US$1.9 million).


Friday, August 5, 2011
Comments & Business Outlook

Second Quarter 2011 Financial Highlights:

  • Total revenues increased 26.7% over Q2 2010 to RMB332.4 million (US$51.4 million), within the Company's guidance range of RMB325 million to RMB335 million
  • Online recruitment services revenues increased 49.0% over Q2 2010 to RMB200.5 million (US$31.0 million)
  • Gross margin expanded to 71.8% compared with 68.0% in Q2 2010
  • Income from operations increased 68.8% over Q2 2010 to RMB108.8 million (US$16.8 million)
  • Fully diluted earnings per common share were RMB1.41 (US$0.44 per ADS)
  • Excluding share-based compensation expense, loss from foreign currency translation and loss from impairment of long-term investments as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB1.87 (US$0.58 per ADS)
  • Cash and short-term investments increased to RMB1,826.0 million (US$282.5 million) as of June 30, 2011

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Making broad progress on our strategic initiatives, we achieved another quarter of solid growth and improved profitability. We successfully expanded our customer base in existing and new geographies, achieved increased spending per employer in our online business and gained momentum in our other HR services business. With our proven track record for execution, established industry leadership position and unparalleled suite of end-to-end HR solutions, we possess distinct competitive advantages and move forward confidently to position 51job for sustainable, profitable growth over the long term."

Business Outlook

For the third quarter of 2011, based on current market and operating conditions, the Company's revenue target is in the estimated range of RMB335 million to RMB345 million (US$51.8 million to US$53.4 million). Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the third quarter of 2011 is in the estimated range of RMB1.80 to RMB1.90 per common share (US$0.56 to US$0.59 per ADS). The Company expects aggregate share-based compensation expense to increase in the third quarter of 2011 to approximately RMB12 million (US$1.9 million).


Sunday, June 26, 2011
Liquidity Requirements

To date, we have primarily financed our operations through cash flows from operating activities, equity investments by certain of our founders, the sale of preferred shares in 2000 and our initial public offering in 2004. We have not financed our operations through significant borrowings, and as of December 31, 2010, we had no material debt obligations outstanding.

We believe that our current cash and cash flow from operations will be sufficient to meet our anticipated cash needs, including our cash needs for working capital and capital expenditures, for the foreseeable future. We may, however, require additional cash resources due to changing business conditions or other future developments, including any investments or acquisitions we may decide to pursue. As of December 31, 2010, we did not have any material commitment for capital expenditure.


Friday, May 6, 2011
Comments & Business Outlook

First Quarter Results:

  • Total revenues increased 27.6% over Q1 2010 to RMB324.5 million (US$49.6 million), exceeding the Company's guidance range of RMB305 million to RMB315 million
  • Online recruitment services revenues increased 57.5% over Q1 2010 to RMB172.8 million (US$26.4 million)
  • Gross margin expanded to 70.5% compared with 64.3% in Q1 2010
  • Income from operations increased 77.0% over Q1 2010 to RMB108.1 million (US$16.5 million)
  • Fully diluted earnings per common share were RMB1.55 (US$0.47 per ADS)
  • Excluding share-based compensation expense and foreign currency translation loss as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB1.71 (US$0.52 per ADS), exceeding the Company's guidance range of RMB1.20 to RMB1.30

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "We have continued to observe favorable market conditions and robust customer demand for our services thus far in 2011.  Our online recruitment business maintained a rapid growth rate as we achieved record revenues and transacted with a record number of unique employers in the first quarter.  Through operational discipline and improved efficiency, we also successfully drove margin expansion despite higher employee costs and investments for the long term.  We believe these strong first quarter results provide further confirmation that we are executing the right strategic plan to develop the most powerful brand in human resource services in China."

For the second quarter of 2011, based on current market and operating conditions, the Company's revenue target is in the estimated range of RMB325 million to RMB335 million (US$49.6 million to US$51.2 million).  Excluding share-based compensation expense and any foreign currency translation loss or gain as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the second quarter of 2011 is in the estimated range of RMB1.60 to RMB1.70 per common share (US$0.49 to US$0.52 per ADS).  The Company expects aggregate share-based compensation expense to increase in the second quarter of 2011 to approximately RMB10 million (US$1.5 million).


Monday, February 28, 2011
Comments & Business Outlook

Fourth Quarter Highlights:

  • Total revenues increased 33.5% over Q4 2009 to RMB301.7 million (US$45.7 million), exceeding the Company's guidance range of RMB275 million to RMB285 million
  • Gross profit for the fourth quarter of 2010 increased 39.0% to RMB186.7 million (US$28.3 million) from RMB134.3 million for the same quarter of the prior year.
  • Operating income increased 86.2% to RMB77.7 million (US$11.8 million) compared with RMB41.7 million in Q4 2009
  • Excluding share-based compensation expense and foreign currency translation loss as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB1.27 (US$0.38 per ADS), exceeding the Company's guidance range of RMB1.00 to RMB1.10

For the first quarter of 2011, based on current market and operating conditions,

  • the Company's revenue target is in the estimated range of RMB305 million to RMB315 million (US$46.2 million to US$47.7 million).  
  • Excluding share-based compensation expense and any foreign currency translation loss or gain as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the first quarter of 2011 is in the estimated range of RMB1.20 to RMB1.30 per common share (US$0.36 to US$0.39 per ADS).  

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Our solid performance in the fourth quarter of 2010 concluded a successful year during which we achieved record revenues, margins and profits.  On the strength of our brand, market leadership position and product effectiveness, our online business continued to attract new employers and drive the adoption of our services at a rapid pace.  Through improved sales and monetization efforts, we also saw growing contribution from our other HR services area, led by significant traction in our outsourcing business.  With a clear strategic blueprint and execution plan in place, we move forward confidently, focused on investing for our sustainable, long-term growth and increasing shareholder value."

 


Tuesday, November 9, 2010
Comments & Business Outlook

Third Quarter 2010 Financial Highlights:

  • Total revenues increased 23.7% over Q3 2009 to RMB271.6 million (US$40.6 million), exceeding the Company's guidance range of RMB255 million to RMB265 million.
  • Online recruitment services revenues increased 58.4% over Q3 2009 to RMB142.7 million (US$21.3 million).
  • Gross margin expanded to 68.4% compared with 62.4% in Q3 2009.
  • Operating income increased 72.0% to RMB68.9 million (US$10.3 million) compared with RMB40.1 million in Q3 2009.
  • Fully diluted earnings per common share were RMB1.10 (US$0.33 per ADS).
  • Excluding share-based compensation expense and foreign currency translation loss as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB1.26 (US$0.38 per ADS), exceeding the Company's guidance range of RMB0.95 to RMB1.05.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Through the successful execution of our growth initiatives, we achieved record revenues and profits in the third quarter.  In our online business, we continued to aggressively acquire new corporate customers, expand our geographic sales coverage and introduce product innovations.  We also saw solid progress in the development of our other HR services area led by increasing customer adoption of our outsourcing services.  With this robust business momentum on our side, we remain focused on taking actions to extend our market leadership position, investing for our long-term growth and creating value for our shareholders."

Business Outlook

For the fourth quarter of 2010, based on current market and operating conditions, the Company's

  • Revenue target is in the estimated range of RMB275 million to RMB285 million (US$41.1 million to US$42.6 million).
  • Excluding share-based compensation expense and any foreign currency translation loss or gain as well as their related tax impact, the Company's non-GAAP fully diluted earnings target is in the estimated range of RMB1.00 to RMB1.10 per common share (US$0.30 to US$0.33 per ADS).  
  • The Company expects aggregate share-based compensation expense in the fourth quarter of 2010 to be in the estimated range of RMB6 million to RMB7 million (US$0.9 million to US$1.0 million).

Thursday, August 5, 2010
Comments & Business Outlook
  Second Quarter 2010 Financial Highlights:

    -- Total revenues increased 35.7% over Q2 2009 to RMB262.4 million
       (US$38.7 million), exceeding the Company's guidance range of RMB250
       million to RMB260 million
    -- Online recruitment services revenues increased 74.0% over Q2 2009 to
       RMB134.6 million (US$19.9 million)
    -- Gross margin expanded to 68.0% compared with 59.8% in Q2 2009
    -- Operating income increased to RMB64.5 million (US$9.5 million) compared
       with RMB26.8 million in Q2 2009
    -- Fully diluted earnings per common share were RMB0.97 (US$0.29 per ADS)
    -- Excluding share-based compensation expense and foreign currency
       translation loss as well as their related tax impact, non-GAAP adjusted
       fully diluted earnings per common share were RMB1.11 (US$0.33 per ADS),
       exceeding the Company's guidance range of RMB0.95 to RMB1.05
    -- Cash and short-term investments increased to RMB1,409.7 million
       (US$207.9 million) as of June 30, 2010


    Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "We continued to observe a recovery trend in the Chinese recruitment market during the second quarter.  Our online business achieved record revenues as we successfully grew our client base, adding employers from existing cities and new geographies.  Although we increased sales and customer service headcount as well as marketing activities in light of improved market conditions, we reached new highs in gross margin and operating margin in the second quarter by leveraging the powerful scale economies and operating efficiency of our business model.  We remain focused on executing our strategic plan, delivering tangible results to our clients and increasing value for our shareholders."

Sunday, August 9, 2009
Comments & Business Outlook

Commenting on the second results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, 'Our aggressive cost and expense management and focus on business process efficiency improvements yielded tangible results in the second quarter. We successfully drove margin expansion and delivered solid earnings despite challenging market conditions which continued to impact customer demand and revenues. Although spending per customer declined, we were pleased to see regained momentum in new customer acquisitions for our online business in the second quarter. The decisions and progress we have made to strengthen our operations and enhance our resource allocation this year reinforce our commitment to achieve sustainable growth and profitability for our shareholders over the long term.'

3rd Quarter Guidance Ended June

  3rd Quarter 2009 Guidance

3rd QUARTER 2008

Period Change
GAAP Revenue $29.0 to $30.5 million $30.8 million -5.8% to -1.0%
Non-GAAP EPS a  $0.06 to $0.09 $0.19 -68.4% to 52.6%

Source: See Release, August 6, 2009  

a
 Non-GAAP EPS Figures exclude certain non-operating gains and losses as well as certain non-cash items. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information . For a more complete explanation of the company's definition of non-GAAP please refer to its financial press releases. The GeoTeam® non-GAAP figures may, from time to time,  differ from company supplied figures.


Sunday, June 21, 2009
Comments & Business Outlook

"As we expected, market demand for recruitment services in the first quarter was significantly impacted by the global economic crisis and the slowdown of the Chinese economy. However, through cost control and financial discipline, we were able to maintain our track record of profitability and achieve better than forecasted earnings in the first quarter. We believe the measures we are currently undertaking to streamline our processes, increase productivity and more effectively allocate resources will strengthen our operations and position us for greater profitability and growth when market conditions improve.''

2nd Quarter Guidance Ended June

  2nd Quarter 2009 Guidance

2nd QUARTER 2008

Period Change
GAAP Revenue $25.6 to $27.1 million $31.9 million -19.7% to -15.0%
Non-GAAP EPS a  $0.06 to $0.09 $0.08 -25.0% to 13.0%

Source: See Release, August 6, 2009  

a
 Non-GAAP EPS Figures exclude certain non-operating gains and losses as well as certain non-cash items. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information . For a more complete explanation of the company's definition of non-GAAP please refer to its financial press releases. The GeoTeam® non-GAAP figures may, from time to time,  differ from company supplied figures.


Wednesday, March 4, 2009
Comments & Business Outlook

Guidance Report: 

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, 'Hiring activity slowed materially in the fourth quarter as many corporate customers scaled back their recruitment efforts and cut spending in the face of worsening global economic conditions. The current market sentiment among employers in China continues to be highly cautious and we believe it will remain so throughout 2009 as companies navigate through these unprecedented and challenging times.'

First Quarter Fiscal 2009 Guidance Ending March

2009 Guidance 2008 Reported Period Change
GAAP Revenue $25.7 to $27.1 million $33.7 million -23.74% to -19.58%
GAAP EPS NA $0.11 NA
*Non-GAAP EPS $0.00 to $0.03 $0.20 NA to -85%

EPS Figures exclude non-operating gains and losses. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information.For a more complete explanation of the company's definition of non-GAAP please refer to their fourth Quarter financial press release.

Source: PR Newswire (March 3, 2009)