51job, Inc. (NASDAQ:JOBS)

Fourth Quarter 2019 Financial Results

• Net revenues increased 1.3% over Q4 2018 to RMB1,135.6 million (US$163.1 million)
• Net income attributable to 51job for the fourth quarter of 2019 was RMB249.5 million (US$35.8 million) compared with RMB856.3 million for the same quarter in 2018.  Fully diluted earnings per share for the fourth quarter of 2019 was RMB3.67 (US$0.53) compared with RMB6.22 for the same quarter in 2018.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Through disciplined execution of our strategic plan in a year of high economic uncertainty and tough market conditions, we are pleased to have maintained growth and delivered profitable returns in 2019.  We continued to uplift average spending by employers on our many online recruitment platforms and to improve cross-selling of other HR services to the customer base.  We also further expanded 51job's HR ecosystem with more products, technologies and partners that we believe bring exciting new monetization opportunities and enhance our growth trajectory over the long term.  Although the impact of the coronavirus outbreak has led to a disruptive start to 2020 and significantly affected current visibility, our solid business fundamentals and ample financial resources will enable us to navigate through this challenging period, and we will continue to push forward with initiatives that strengthen our competitiveness and leadership in the HR industry for the future."

Business Outlook

Based on current market and operating conditions which have been significantly impacted by the extended Chinese New Year holiday period and the coronavirus outbreak, the Company's net revenues target for the first quarter of 2020 is in the estimated range of RMB725 million to RMB775 million (US$104.1 million to US$111.3 million). Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of equity securities investment.  The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact.  Excluding share-based compensation expense, any gain or loss from foreign currency translation and any change in fair value of equity securities investment, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the first quarter of 2020 is in the estimated range of RMB1.70 to RMB2.20 (US$0.24 to US$0.32) per share.  The Company expects total share-based compensation expense in the first quarter of 2020 to be in the estimated range of RMB36 million to RMB38 million (US$5.2 million to US$5.5 million).

Third Quarter 2019 Financial Results

• Net revenues for the third quarter ended September 30, 2019 were RMB989.0 million (US$138.4 million), an increase of 3.6% from RMB954.6 million for the same quarter in 2018.
• Non-GAAP adjusted fully diluted earnings per share was RMB4.49 (US$0.63) in the third quarter of 2019 compared with RMB5.09 in the third quarter of 2018.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "The diverse nature and strength of our proven, integrated HR solutions model enabled us to maintain solid profitability in the third quarter. Although near-term hiring sentiment remains weak and has negatively affected our online recruitment business, the resiliency of our other HR services area has seen consistent progress in employer engagement in these challenging market conditions of 2019. As we wrap up the year, we will continue to lay the groundwork for 51job's long-term successful development with a disciplined focus on executing our strategic plan: to deepen customer relationships across the entire talent management value chain, to improve user experience and effectiveness, and to expand our HR ecosystem with new innovative products, technology and partners."

Business Outlook

Based on current market and operating conditions, the Company's net revenues target for the fourth quarter of 2019 is in the estimated range of RMB1,080 million to RMB1,120 million (US$151.1 million to US$156.7 million). Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation. The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact. Excluding share-based compensation expense and any gain or loss from foreign currency translation, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the fourth quarter of 2019 is in the estimated range of RMB4.45 to RMB4.75 (US$0.62 to US$0.66) per share.  The Company expects total share-based compensation expense in the fourth quarter of 2019 to be in the estimated range of RMB34 million to RMB35 million (US$4.8 million to US$4.9 million).

Second Quarter 2019 Financial Results

• Net revenues increased 7.6% over Q2 2018 to RMB963.6 million (US$140.4 million)
• Net income attributable to 51job for the second quarter of 2019 was RMB67.4 million(US$9.8 million) compared with net loss of RMB(56.6) million for the same quarter in 2018. Fully diluted earnings per share for the second quarter of 2019 were RMB1.00(US$0.15) compared with loss per share of RMB(0.92) for the same quarter in 2018.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "We continue to face tough market conditions in 2019 as economic uncertainty has weighed on companies in China. With employers being cautious on spending and highly selective in adding headcount during this business cycle, we have seen a slowdown in recruitment activity which has affected the growth of our online business. In the other HR services area, there has been some resiliency as our HR outsourcing business is making progress after operational adjustments stemming from the implementation of new tax and social insurance regulations earlier this year. Despite soft demand, we are executing our strategic plan with efficiency and cost effectiveness, which enabled us to maintain solid margins and profitability in the second quarter. With proven focus, discipline and experience, we are managing through current market challenges while continuing to invest, innovate and incubate new HR products and services that will drive 51job's growth and development over the long term."

Business Outlook

Based on current market and operating conditions, the Company's net revenues target for the third quarter of 2019 is in the estimated range of RMB915 million to RMB955 million (US$133.3 million to US$139.1 million). Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation. The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact. Excluding share-based compensation expense and any gain or loss from foreign currency translation, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the third quarter of 2019 is in the estimated range of RMB4.00 to RMB4.30(US$0.58 to US$0.63) per share. The Company expects total share-based compensation expense in the third quarter of 2019 to be in the estimated range

First Quarter 2019 Financial Results:

• Net revenues increased 12.4% over Q1 2018 to RMB911.9 million (US$135.9 million)
• Net loss attributable to 51job for the first quarter of 2019 was RMB(84.8) million(US$(12.6) million) compared with RMB(332.8) million for the same quarter in 2018.  Loss per share for the first quarter of 2019 was RMB(1.38) (US$(0.21)) compared with RMB(5.46) for the same quarter in 2018. 

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Amid economic uncertainty, we saw a slower start to 2019 as employers exercised more caution with their recruitment plans and activities.  Although growth for our online business moderated compared to last year, we continued to make good progress on our key strategic objective of ARPU improvement, which increased 24% in the first quarter.  In the other HR services area, the recent implementation of new regulatory standards and procedures, primarily related to the significant overhaul of the individual income tax law in China, resulted in some short-term pain to our HR outsourcing business.  However, despite these tougher market conditions, we achieved solid non-GAAP profitability in the first quarter by leveraging our strengths in operating efficiency and cost effectiveness.  As we navigate through this period of softer demand and await more market visibility, we will stay focused on our high quality growth strategy, maintain financial discipline by balancing investments and returns, and continue to expand 51job's footprint in the HR services industry in China."

Third Quarter 2018 Financial Results

• Total revenues increased 31.1% over Q3 2017 to RMB954.6 million (US$139.0 million), exceeding the Company's guidance range
• Non-GAAP adjusted fully diluted earnings per share were RMB5.09 (US$0.74) in the third quarter of 2018 compared with RMB3.32 in the third quarter of 2017.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Deploying a high-quality growth strategy by delivering the best to employers and job seekers, we are pleased to report another quarter of solid financial results.  In the third quarter, our online business again saw further improvement in average revenue per employer as we successfully drove greater spending by customers.  In the other HR services area, demand and usage continued to see good growth as employers sought more assistance and solutions to address talent management challenges.  With a broad portfolio of products and services, robust business fundamentals, and a long, proven track record of healthy, profitable operations, 51job remains confident and excited about the tremendous HR market opportunity in China."

Business Outlook

Based on current market and operating conditions, the Company's total revenues target for the fourth quarter of 2018 is in the estimated range of RMB1,090 million to RMB1,120 million (US$158.7 million to US$163.1 million). Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of convertible senior notes. The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact and changes. 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 senior 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 2018 is in the estimated range of RMB4.45 to RMB4.75 (US$0.65 to US$0.69) per share. The Company expects total share-based compensation expense in the fourth quarter of 2018 to be in the estimated range of RMB30 million to RMB31 million (US$4.4 million to US$4.5 million).

Second Quarter 2018 Financial Results:

• Total revenues increased 33.0% over Q2 2017 to RMB895.5 million (US$135.3 million), exceeding the Company's guidance range.
• Non-GAAP adjusted fully diluted earnings per share were RMB5.43 (US$0.82) in the second quarter of 2018 compared with RMB3.34 in the second quarter of 2017.
  

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "With clear focus and purpose, we continued to solidly execute our high-quality growth strategy.  Our online business maintained an uptrend in revenue per employer as we successfully drove greater spending by existing, more sophisticated customers and worked through increased prices on certain entry-level online packages among new, smaller sized customers.  We also saw positive customer demand for our other HR services which, combined with recruitment services, can provide employers with complete end-to-end talent management solutions.  Demonstrating proven capabilities, dedicated coverage and industry expertise built over two decades, 51job is further cementing its leadership and remains uniquely positioned to capture all aspects of the HR opportunity in China."

Business Outlook

Based on current market and operating conditions, the Company's total revenues target for the third quarter of 2018 is in the estimated range of RMB905 million to RMB935 million (US$136.8 million to US$141.3 million).  Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of convertible senior notes.  The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact and changes.  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 senior 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 2018 is in the estimated range of RMB3.70 to RMB4.00 (US$0.56 to US$0.60) per share.  The Company expects total share-based compensation expense in the third quarter of 2018 to be in the estimated range of RMB32 million to RMB33 million (US$4.8 million to US$5.0 million).

First Quarter 2018 Financial Results

• Total revenues increased 33.5% over Q1 2017 to RMB811.3 million (US$129.3 million), exceeding the Company's guidance range.
• Non-GAAP adjusted fully diluted earnings per share were RMB3.76 (US$0.60) vs. RMB3.46 (US$0.55) exceeding the Company's guidance range

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "We carried solid momentum in sales execution and operating efficiency into 2018 throughout the organization. Consistent with our high-quality growth strategy, our online business saw further uplift in revenue per customer as we pursued up-selling to existing customers and increased prices on certain entry-level online packages this year. In the other HR services area, customer demand and adoption was extremely robust for these value-added services that can enhance recruitment effectiveness, improve employee productivity and alleviate day-to-day HR administrative burden.  51job continues to be a pioneer and leader on the forefront of the HR industry in China, focused on delivering proven solutions, tangible results and dedicated long-term commitment to our employers, job seekers, partners and shareholders."

Business Outlook

Based on current market and operating conditions, the Company's total revenues target for the second quarter of 2018 is in the estimated range of RMB855 million to RMB885 million (US$136.3 million to US$141.1 million). Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of convertible senior notes. The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact and changes. 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 senior notes, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the second quarter of 2018 is in the estimated range of RMB3.70 to RMB4.00 (US$0.59 to US$0.64) per share. The Company expects total share-based compensation expense in the second quarter of 2018 to be in the estimated range of RMB22 million to RMB23 million (US$3.5 million to US$3.7 million).

Fourth Quarter 2017 Financial Results

• Total revenues increased 25.6% over Q4 2016 to RMB872.1 million (US$134.0 million), exceeding the Company's guidance range.
• Fully diluted earnings per share for the fourth quarter of 2017 were RMB4.42 (US$0.68) compared with RMB3.45 for the same quarter in 2016.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "We are very pleased to deliver robust fourth quarter results that cap off a memorable 2017 highlighted by terrific sales execution and productivity. Our online business maintained solid growth, which was again realized through not only new employer additions but also increased spending by existing employers. The other HR services area outperformed on the back of our strengthened cross-promotion efforts that drove meaningful improvement in customer understanding and uptake of these services. For 2018, we will continue to develop, acquire and integrate more product offerings across the entire HR value chain. As 51job celebrates its 20th anniversary, we are more committed than ever to serving Chinese employers and job seekers with high quality, innovative and comprehensive solutions that address all of their recruitment and talent management needs."

Business Outlook

Based on current market conditions and factoring in seasonality related to the late Chinese New Year holiday in 2018, the Company's total revenues target for the first quarter of 2018 is in the estimated range of RMB755 million to RMB785 million (US$116.0 million to US$120.7 million).

Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of convertible senior notes. The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact and changes. 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 senior notes, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the first quarter of 2018 is in the estimated range of RMB2.80 to RMB3.10 (US$0.43 to US$0.48) per share. The Company expects total share-based compensation expense in the first quarter of 2018 to be in the estimated range of RMB23 million to RMB24 million (US$3.5 million to US$3.7 million).

Third Quarter 2017 Financial Results

• Total revenues increased 22.4% over Q3 2016 to RMB728.2 million (US$109.5 million), exceeding the Company's guidance range.
• Non-GAAP adjusted fully diluted earnings per share were RMB3.32 (US$0.50) in the third quarter of 2017 compared with RMB2.89 in the third quarter of 2016.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Through clear and consistent execution of our strategic plan, we achieved solid revenue growth and margin improvement in the third quarter.  The online business outperformed our expectations, with meaningful contribution from both new customer additions as well as higher average spend per customer due to our successful up-selling efforts.  The other HR services area is also regaining growth momentum as we better integrate and promote our product offerings into complete, end-to-end HR solutions for employers.  We are excited that our business initiatives and investments are demonstrating strong and measurable progress across the board. We believe that 51job is better positioned than ever to efficiently and effectively capture the large HR market opportunity before us in China."

Business Outlook

Based on current market and operating conditions, the Company's total revenues target for the fourth quarter of 2017 is in the estimated range of RMB825 million to RMB845 million (US$124.0 million to US$127.0 million).

Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of convertible senior notes.  The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact and changes.  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 senior 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 2017 is in the estimated range of RMB3.90 to RMB4.10 (US$0.59 to US$0.62) per share.  The Company expects total share-based compensation expense in the fourth quarter of 2017 to be in the estimated range of RMB23 million to RMB24 million (US$3.5 million to US$3.6 million).

SHANGHAI, Sept. 21, 2017 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS) ("51job" or the "Company"), a leading provider of integrated human resource services in China, announced today that the Company has entered into an agreement to become the majority shareholder of Lagou Information Limited, the holding company incorporated in the Cayman Islands of Beijing Lagou Network Technology Co., Ltd. ("Lagou"). Founded in 2013, Lagou operates a recruitment website focused on addressing the growing demand for technology and engineering talent in China. The Company will acquire a 60% equity interest in the parent company of Lagou for US$119 million in cash, and the transaction is expected to be completed in the fourth quarter of 2017, subject to closing conditions.

"The addition of the Lagou platform further expands and deepens 51job's HR services ecosystem for both employers and job seekers alike," said Rick Yan, President and Chief Executive Officer of 51job. "Combining Lagou's targeted strengths in the technology vertical with 51job's extensive sales resources and large user base, we are excited about opportunities to enhance the recruitment experience and improve hiring effectiveness in this important industry segment.  Lagou's founding team and management will continue to drive its rapid growth and development, and we look forward to exploring strategic business synergies together."

First Quarter 2017 Financial Results:

Total revenues increased 16.0% over Q1 2016 to RMB607.7 million (US$88.3 million), within the Company's guidance range.

Fully diluted earnings per share for the first quarter of 2017 were RMB2.74 (US$0.40) compared with RMB1.48 for the same quarter in 2016.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "2017 is off to an encouraging start with accelerated growth in our online business and improved operating efficiency across the entire organization. Strengthened by recent product innovations that have received positive feedback from both job seekers and employers, we saw robust customer acquisition in the first quarter that surpassed our expectations. At the same time, we maintained focus on up-selling initiatives to increase online spend among existing customers, which successfully and largely mitigated the downward effect of new customers on average revenue per employer. With clear and solid execution of our strategic plan, we aim to build on this sales momentum, broaden our coverage and expand our offerings to develop the most complete HR services ecosystem in China."

Business Outlook

Based on current market conditions and factoring in the VAT policy change, the Company's total revenues target for the second quarter of 2017 is in the estimated range of RMB640 million to RMB660 million (US$93.0 million to US$95.9 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 senior notes, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the second quarter of 2017 is in the estimated range of RMB2.80 to RMB3.00 (US$0.41 to US$0.44) per share. The Company expects total share-based compensation expense in the second quarter of 2017 to be in the estimated range of RMB20 million to RMB21 million (US$2.9 million to US$3.1 million).

Fourth Quarter 2016 Financial Results

• Total revenues increased 13.6% over Q4 2015 to RMB694.2 million (US$100.0 million), within the Company's guidance range.
• Fully diluted earnings per share were RMB3.45 (US$0.50) compared with RMB2.45 for the same quarter in 2015.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "While we delivered solid financial results in 2016, the year was even more noteworthy in our minds for the progress we made on product development and the diversification of our engagement points with both employers and job seekers. Our online service offerings are more innovative and comprehensive than ever following a refresh of the flagship 51job.com portal, the enhancement of our search engine methodology, and the introduction of employee referral and candidate background check services. We believe our strengthened value proposition to users will not only elevate recruitment compatibility and effectiveness, but also provide additional fuel to drive online customer spending and sales productivity over time. In 2017, we will continue to maintain our long-standing discipline in balancing investments and returns, incubate and pilot new products and platforms, and further establish 51job as the most complete HR services provider in China."

Business Outlook

Based on current market conditions and factoring in the VAT policy change as well as seasonality related to the Chinese New Year holiday, the Company's total revenues target for the first quarter of 2017 is in the estimated range of RMB595 million to RMB615 million (US$85.7 million to US$88.6 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 senior notes, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the first quarter of 2017 is in the estimated range of RMB2.55 to RMB2.75 (US$0.37 to US$0.40) per share. The Company expects total share-based compensation expense in the first quarter of 2017 to be in the estimated range of RMB22 million to RMB23 million (US$3.2 million to US$3.3 million).

Third Quarter 2016 Financial Results

• Total revenues increased 13.3% over Q3 2015 to RMB595.0 million (US$89.2 million), at the top of the Company's guidance range
• Fully diluted earnings per share for the third quarter of 2016 were RMB1.84 (US$0.28) compared with RMB2.62 for the same quarter in 2015.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Strategic initiatives we began last year to dedicate efforts and resources to increasing online customer engagement and spending continue to make solid progress. In addition to average revenue per unique employer realizing its sixth consecutive period of year-over-year improvement, we also saw a faster pace of customer count growth in the third quarter. The cross-selling of our other value-added HR services, especially our HR outsourcing services, maintained good momentum, although revenue recognition, and thus comparisons to prior periods, have been and will continue to be impacted by the VAT transition until mid-2017. Looking forward, we stay focused on strengthening our value proposition to both job seekers and employers with a wider range of services, and further cementing our market leadership in the HR industry in China."

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 2016 is in the estimated range of RMB680 million to RMB700 million (US$102.0 million to US$105.0 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation and change in fair value of convertible senior 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 2016 is in the estimated range of RMB3.05 to RMB3.25 (US$0.46 to US$0.49) per share. The Company expects total share-based compensation expense in the fourth quarter of 2016 to be in the estimated range of RMB22 million to RMB23 million (US$3.3 million to US$3.4 million).

Second Quarter 2016 Financial Results

• Total revenues increased 10.2% over Q2 2015 to RMB559.8 million (US$84.2 million), within the Company's guidance range.
• Fully diluted earnings per share were RMB2.90 (US$0.44) RMB1.72 (US$.26).

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "With the white-collar recruitment market exhibiting relatively stable, modest growth in this time of economic transition in China, our strategic focus remains on increasing online customer spend and improving cross-selling of our other value-added HR services. Our sales efforts to deepen customer engagement are bearing fruit as average revenue per unique online employer has increased on a year-over-year basis for five consecutive quarters. We will continue to execute our initiatives in a disciplined manner. We are making important investments to strengthen our sales and customer service infrastructure, expand our new targeted job seeker platforms and capture additional HR-related opportunities, all while maintaining a track record of sustained profitability."

Business Outlook

Based on current market conditions and factoring in the VAT policy change which took effect on May 1, 2016, the Company's total revenues target for the third quarter of 2016 is in the estimated range of RMB575 million to RMB595 million (US$86.5 million to US$89.5 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation and change in fair value of convertible senior 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 2016 is in the estimated range of RMB2.45 to RMB2.65 (US$0.37 to US$0.40) per share. The Company expects total share-based compensation expense in the third quarter of 2016 to be in the estimated range of RMB23 million to RMB24 million (US$3.5 million to US$3.6 million).

First Quarter 2016 Financial Results

• Total revenues increased 14.3% over Q1 2015 to RMB523.8 million (US$81.2 million), within the Company's guidance range
• Non-GAAP adjusted fully diluted earnings per share were RMB2.43 (US$0.38) in the first quarter of 2016 compared with RMB2.39 in the first quarter of 2015.

Excluding share-based compensation expense, gain from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect of these items, non-GAAP adjusted fully diluted earnings per share were RMB2.43 (US$0.38), within the Company's guidance range
Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Based on the hiring activity we have seen so far in 2016, we maintain a positive, stable outlook on recruitment market conditions. We are pleased to start off the year with continued momentum in realizing our strategic goals of increasing online customer spend and improving cross-selling of other value-added HR services. Driven by solid and tactical execution of sales initiatives, our average revenue per unique online employer has risen on a year-over-year basis for four consecutive quarters despite macroeconomic headwinds. We remain focused on innovation and expansion, and we will invest to strengthen the core 51job brand, build out our new targeted job seeker platforms and explore additional opportunities that address the evolving needs of workers and employers in China."

Business Outlook

Based on current market conditions and factoring in the value-added tax ("VAT") policy change which took effect on May 1, 2016 (as described below), the Company's total revenues target for the second quarter of 2016 is in the estimated range of RMB540 million to RMB560 million (US$83.7 million to US$86.8 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect of these items, the Company's non-GAAP fully diluted earnings target for the second quarter of 2016 is in the estimated range of RMB2.30 to RMB2.50 (US$0.36 to US$0.39) per share. The Company expects total share-based compensation expense in the second quarter of 2016 to be in the estimated range of RMB24 million to RMB25 million (US$3.7 million to US$3.9 million).

SHANGHAI, December 14, 2015 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS) ("51job" or the "Company"), a leading provider of integrated human resource services in China, announced today an education partnership with the Association of Talent Development ("ATD"), the world's largest association dedicated to those who develop talent in organizations.

51job and ATD will join together and leverage the strengths of both parties to provide education courses, workshops and certificate programs to talent development professionals in China. ATD's suite of education offerings include courses focused on such topics as training delivery, performance improvement and instructional design. With a broad portfolio of HR solutions that covers the entire talent management cycle from recruitment to retention, 51job serves and connects job seekers and employers across more than 100 cities in China. 51job's strong brand, market presence and established reputation as a dedicated, full-service HR provider will ensure that the right professionals have access to leading education content for workforce development.

"We are excited to partner with ATD to bring world-class talent development programs to the HR community in China," said Rick Yan, President and Chief Executive Officer of 51job. "As the Chinese economy grows and evolves, investment in human capital will only increase as companies and their respective HR departments look to build superior talent pipelines and strengthen competitive advantages through highly productive labor forces. We continue to expand our range of HR products and are committed to delivering more value-added services to benefit our customers and the overall development of the HR market in China."

• Total revenues increased 10.8% over Q3 2014 to RMB525.0 million (US$82.6 million), at the high end of the Company's guidance range
• Fully diluted earnings per share for the third quarter of 2015 were RMB2.62 (US$0.41) compared withRMB2.17 for the same quarter in 2014.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said,
"We continued to direct our efforts on generating high quality revenues in the third quarter.  Our other HR services area maintained a solid growth trajectory driven by the recurring nature and usage of our outsourcing services by enterprises.  In the online business, our emphasis on upselling and deepening wallet share within our core customer base is also seeing progress.  Although recruitment market conditions remain soft, employers realize the superior value of our services, with average revenue per unique employer increasing both year-over-year and sequentially in the third quarter.  As we execute our strategic plan and expand our product coverage to new segments and platforms, we are clear on what employers, job seekers and shareholders expect from us and what we are committed to consistently deliver to them: the best service, results and returns in the HR industry in China."

Business Outlook

Based on current market conditions, the Company's total revenues target for the fourth quarter of 2015 is in the estimated range of RMB580 million to RMB600 million (US$91.3 million to US$94.4 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 2015 is in the estimated range of RMB2.50 to RMB2.70 (US$0.39 to US$0.42) per share.  The Company expects total share-based compensation expense in the fourth quarter of 2015 to be in the estimated range of RMB20 million to RMB21 million (US$3.1 million to US$3.3 million).

Second Quarter 2015 Financial Results

• Total revenues increased 11.0% over Q2 2014 to RMB508.0 million (US$81.9 million), exceeding the Company's guidance range
• Fully diluted earnings per share for the second quarter of 2015 were RMB2.33 (US$0.38) compared with RMB0.86 for the same quarter in 2014.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "While we navigate through this period of softer recruitment demand in 2015, we are pleased that our value-added HR services maintained its solid growth momentum through strengthened sales efforts to generate high quality revenues from our core customer base in the second quarter. We also made significant progress in executing our long-term, multi-product strategic blueprint with the completed acquisition of a campus recruitment website, investments in other HR services providers and the ongoing development of our new high-end recruitment site. As we position 51job for the future, we stay continuously focused on value creation for all stakeholders: to connect our job seekers with the best and most relevant opportunities, to deliver tangible, successful results for our employers and to enhance profitable returns for our shareholders."

Business Outlook

Based on current market conditions, the Company's total revenues target for the third quarter of 2015 is in the estimated range of RMB505 million to RMB525 million (US$81.5 million to US$84.7 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 2015 is in the estimated range of RMB2.25 to RMB2.45 (US$0.36 to US$0.40) per share. The Company expects total share-based compensation expense in the third quarter of 2015 to be in the estimated range of RMB20 million to RMB21 million (US$3.2 million to US$3.4 million).

First Quarter 2015 Financial Results:

• Total revenues increased 4.8% over Q1 2014 to RMB458.1 million (US$73.9 million)
• Fully diluted earnings per share were RMB2.06 (US$0.33)

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "As we expected, results for the first quarter were significantly impacted by the late Chinese New Year holiday in 2015. With a delayed start to the recruitment peak season, we were time constrained to recognize revenues in the first quarter, which we expect will push the realization of some peak season orders to the second quarter of this year. While recruitment activity has remained positive, we are, however, sensing more employer caution. We believe hiring patterns may see greater fluctuations this year as employers adapt and adjust to the reality of a slower economic growth environment in China. We are continuing to drive ahead with our strategic plan, focused on increasing market penetration with our customer acquisition efforts and introducing new products that will extend our service coverage and create new revenue opportunities for the long term."

Business Outlook

Based on current market conditions, the seasonality effect of the later calendar date for the Chinese New Year holiday in 2015 versus 2014, and factoring in the VAT policy change, the Company's total revenues target for the second quarter of 2015 is in the estimated range of RMB480 million to RMB500 million (US$77.4 million to US$80.7 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 second quarter of 2015 is in the estimated range of RMB2.25 to RMB2.45 (US$0.36 to US$0.40) per share. The Company expects total share-based compensation expense in the second quarter of 2015 to be in the estimated range of RMB23 million to RMB24 million (US$3.7 million to US$3.9 million).

Fourth Quarter 2014 Financial Results:

• Total revenues increased 11.9% over Q4 2013 to RMB528.6 million (US$85.2 million), within the Company's guidance range
• Net income for the fourth quarter of 2014 was RMB81.3 million (US$13.1 million) compared with RMB155.3 million for the same quarter in 2013. Fully diluted earnings per share for the fourth quarter of 2014 were RMB1.39 (US$0.22) compared with RMB2.57 for the same quarter in 2013.

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Despite a slower economic growth environment in China in 2014, employers have stayed active in recruitment, and we have continued to execute our strategic plan. While we have been investing in our brand, sales infrastructure and product development efforts, we have also maintained solid financial discipline to deliver consistent profitable returns to our shareholders. We remain excited about the wide spectrum of opportunities ahead of us, and we are positioning 51job to expand and deepen its presence across all facets and segments of the HR space in China."

Business Outlook

Based on current market conditions, the seasonality effect of the later calendar date for the Chinese New Year holiday in 2015 versus 2014, and factoring in the VAT policy change, the Company's total revenues target for the first quarter of 2015 is in the estimated range of RMB460 million to RMB480 million (US$74.1 million to US$77.4 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 first quarter of 2015 is in the estimated range of RMB2.10 to RMB2.30 (US$0.34 to US$0.37) per share. The Company expects total share-based compensation expense in the first quarter of 2015 to be in the estimated range of RMB22 million to RMB23 million (US$3.5 million to US$3.7 million).

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).

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 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).

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).

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).

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.

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).

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).

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).

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).

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).

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).

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."

Third Quarter 2011 Results

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.

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).

Fourth Quarter Highlights:

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).

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.'

"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.''

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

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)