SHANGHAI, May 21, 2015 /PRNewswire/ -- Taomee Holdings
Limited (NYSE: TAOM) ("Taomee" or the "Company"), a leading
children's entertainment and media company in China, today reported its unaudited financial
results for the first quarter of 2015.
Highlights of the First Quarter of 2015
- Total net revenues were US$9.0
million in the first quarter of 2015, an increase of 18.6%
from US$7.6 million in the fourth
quarter of 2014 and a decrease of 22.9% from US$11.7 million in the first quarter of 2014.
This result was slightly above the high end of management's
previous outlook from US$8.5 million to
US$9.0 million.
- Net revenues from PC business were US$6.0 million in the first quarter of 2015, an
increase of 14.0% from US$5.3 million
in the fourth quarter of 2014 and a decrease of 31.6% from
US$8.8 million in the first quarter
of 2014.
- Net revenues from mobile business were US$1.5 million in the first quarter of 2015, an
increase of 7.9% from US$1.4 million
in the fourth quarter of 2014 and an increase of 153.8% from
US$0.6 million in the first quarter
of 2014.
- Net revenues from offline business were US$1.5 million in the first quarter of 2015, an
increase of 60.5% from US$0.9 million
in the fourth quarter of 2014 and a decrease of 36.1% from
US$2.3 million in the first quarter
of 2014.
- Gross profit was US$6.2 million
in the first quarter of 2015, an increase of 10.2% from
US$5.6 million in the fourth quarter
of 2014 and a decrease of 27.5% from US$8.5
million in the first quarter of 2014.
- Loss from operations was US$1.8
million in the first quarter of 2015, compared with a loss
of US$0.7 million in the fourth
quarter of 2014 and a profit of US$0.5
million in the first quarter of 2014.
- Non-GAAP net loss attributable to holders of ordinary shares
was US$1.2 million in the first
quarter of 2015, as compared with a net income of US$0.6 million in the fourth quarter of 2014 and
a net income of US$1.2 million in the
first quarter of 2014.
- Non-GAAP basic and diluted loss per ADS[1] were both
US$0.034 in the first quarter
of 2015, as compared with US$0.020
and US$0.018 earnings per ADS,
respectively, in the fourth quarter of 2014 and US$0.032 for both basic and diluted earnings per
ADS in the first quarter of 2014.
|
[1] Each American
depositary share ("ADS") represents 20 ordinary shares.
|
Key Operating Metrics
- The number of active accounts ("ACA") for
the Company's virtual worlds under operation in mainland
China was approximately 39.4
million in the first quarter of 2015, an increase of 7.1% from 36.8
million in the fourth quarter of 2014 and a decrease of 12.6% from
45.1 million in the first quarter of 2014.
- Active paying accounts ("APA") for the
Company's virtual worlds under operation in mainland China were 0.8 million in the first quarter of
2015, flat as compared with 0.8 million in the fourth quarter of
2014, and a decrease of 42.9% from 1.4 million in the first quarter
of 2014.
- Average revenue per user ("ARPU") for the
Company's virtual worlds under operation in mainland China was approximately RMB47 in the first quarter of 2015, an increase
of 9.3% as compared with RMB43 in the
fourth quarter of 2014 and an increase of 20.5% from RMB39 in the first quarter of 2014.
- The number of downloads of the mobile
applications operated by the Company was approximately 2.2 million
in the first quarter of 2015, a decrease of 18.5% from 2.7 million
in the fourth quarter of 2014 and an increase of 22.2% from 1.8
million in the first quarter of 2014.
"We delivered revenues slightly above the high-end of our
guidance for the first quarter. Offline revenues bounced back from
our fourth quarter results, while PC and Mobile revenues, which
were previously grouped as online revenues, continued to grow as we
had anticipated. Organizationally, we are satisfied with the way
our business units are re-aligned, and we are moving forward to
capture the market with our various teams incentivized. We continue
to develop new and improve on existing content – both internally
and externally – for delivery through our various platforms",
commented Mr. Benson Wang,
co-founder and chief executive officer of Taomee.
"As we enter the seasonally slower period of second quarter, we
are nevertheless encouraged by our pipeline of games, animation
series and movie coming out in the second half of the year.
While it may take a few more quarters to see the success of
our strategy, we remain committed to investing in the long term
prospects of our multifaceted business."
Unaudited Financial Results for the First Quarter of
2015
Net Revenues
Total net revenues were US$9.0
million in the first quarter of 2015, an increase of 18.6%
from US$7.6 million in the fourth
quarter of 2014 and a decrease of 22.9% from US$11.7 million in the first quarter of 2014.
Net revenues from PC business were US$6.0
million in the first quarter of 2015, an increase of 14.0%
from US$5.3 million in the fourth
quarter of 2014 and a decrease of 31.6% from US$8.8 million in the first quarter of 2014. The
quarter-over-quarter (QoQ) increase was primarily due to the
seasonality of more non-school days in the first quarter. The
year-over-year (YoY) decrease was mainly due to the decrease in
active paying accounts.
Net revenues from mobile business were US$1.5 million in the first quarter of 2015, an
increase of 7.9% from US$1.4 million
in the fourth quarter of 2014 and an increase of 153.8% from
US$0.6 million in the first quarter
of 2014. The QoQ increase was primarily due to the revenue
contribution from overseas licensing. And the YoY increase was
primarily due to our mobile game Reverse World, which was
commercially launched in the third quarter of 2014.
Net revenues from offline business were US$1.5 million in the first quarter of 2015, an
increase of 60.5% from US$0.9 million
in the fourth quarter of 2014 and a decrease of 36.1% from
US$2.3 million in the first quarter
of 2014. The QoQ increase was primarily due to an increase in our
toys and film licensing business. The YoY decrease was primarily
due to the decrease in the Company's toys and merchandise licensing
businesses.
Cost of Revenues
Total cost of revenues was US$2.8
million in the first quarter of 2015, an increase of 42.1%
from US$2.0 million in the fourth
quarter of 2014 and a decrease of 10.5% from US$3.2 million in the first quarter of 2014.
PC business related cost of revenues was US$1.3 million in the first quarter of 2015, an
increase of 29.5% from US$1.0 million
in the fourth quarter of 2014 and a decrease of 30.1% from
US$1.9 million in the first quarter
of 2014. The QoQ increase was primarily due to an increase in
payroll expenses and royalties related to our operation of certain
third-party developed virtual worlds. While the YoY decrease was
primarily due to the decrease in bandwidth cost and royalties
related to our operation of certain third-party developed virtual
worlds.
Mobile business related cost of revenues was US$0.2 million in the first quarter of 2015, an
increase of 50.7% from US$0.1 million
in the fourth quarter of 2014 and an increase of 187.6% from
US$77 thousand in the first quarter
of 2014. The QoQ and YoY increases were primarily due to the
increase in payroll expenses.
Offline business related cost of revenues was US$1.3 million in the first quarter of 2015, an
increase of 55.4% from US$0.8 million
in the fourth quarter of 2014 and an increase of 6.8% from
US$1.2 million in the first quarter
of 2014. The QoQ increase was primarily due to an increase in cost
related to our film licensing revenue. And the YoY increase was
also due to an increase in cost related to our film licensing
revenue, which was partially offset by a decrease in cost related
to our toys business.
Gross Profit and Gross Margin
Gross profit was US$6.2 million in
the first quarter of 2015, an increase of 10.2% from US$5.6 million in the fourth quarter of 2014 and
a decrease of 27.5% from US$8.5
million in the first quarter of 2014.
Gross margin was 68.7% in the first quarter of 2015, as compared
with 73.9% in the fourth quarter of 2014 and 73.0% in the first
quarter of 2014.
Gross margin for the PC business was 78.4% in the first quarter
of 2015, as compared with 81.0% in the fourth quarter of 2014 and
78.9% in the first quarter of 2014.
Gross margin for the mobile business was 85.6% in the first
quarter of 2015, as compared with 89.7% in the fourth quarter of
2014 and 87.2% in the first quarter of 2014.
Gross margin for the offline business was 11.9% in the first
quarter of 2015, as compared with 9.1% in the fourth quarter of
2014 and 47.3% in the first quarter of 2014.
Total Operating Expenses
Total operating expenses were US$8.0
million in the first quarter of 2015, an increase of 25.5%
from US$6.3 million in the fourth
quarter of 2014 and flat as compared with US$8.0 million in the first quarter of 2014.
- Product development expenses were US$3.6
million in the first quarter of 2015, a decrease of 6.6%
from US$3.9 million in the fourth
quarter of 2014 and an increase of 12.3% from US$3.2 million in the first quarter of 2014. The
QoQ decrease was primarily due to the decrease in payroll expenses.
The YoY increase was primarily due to an increase in payroll
expenses, while partially offset by a decrease toy design fee.
- Sales and marketing expenses were US$2.7
million in the first quarter of 2015, an increase of 30.3%
from US$2.1 million in the fourth
quarter of 2014 and an increase of 31.9% from US$2.0 million in the first quarter of 2014. The
QoQ and YoY increases were primary due to an increase in film
promotion costs related to our Mole III film.
- General and administrative expenses were US$3.0 million in the first quarter of 2015, an
increase of 10.8% from US$2.7 million
in the fourth quarter of 2014 and a decrease of 16.9% from
US$3.6 million in the first quarter
of 2014. The QoQ increase was primarily due to an increase in
indirect tax costs related to intercompany service charges,
partially offset by a decrease in payroll expenses. The YoY
decrease was primarily due to the decrease in indirect tax costs
related to intercompany service charges and share-based
compensation.
Income/ (Loss) from Operations
Loss from operations was US$1.8
million in the first quarter of 2015, compared with a loss
of US$0.7 million in the fourth
quarter of 2014 and a profit of US$0.5
million in the first quarter of 2014.
Share of Profit/(Loss) from Equity Method
Investment
Share of profit/loss from equity method investment was a loss of
US$0.4 million in the first quarter
of 2015, as compared with a loss of US$0.2
million in the fourth quarter of 2014 and a profit of
US$42 thousand in the first quarter
of 2014.
Net Income/(loss) Attributable to Holders of Ordinary
Shares
Net loss attributable to holders of ordinary shares was
US$1.6 million in the first quarter
of 2015, as compared with a net income of US$0.2 million in the fourth quarter of 2014 and
a net income of US$0.5 million in the
first quarter of 2014.
Basic and diluted loss per ADS were both US$0.045 in the first quarter of 2015, as
compared with US$0.005 for both basic
and diluted earnings per ADS in the fourth quarter of 2014 and
US$0.014 for both basic and diluted
earnings per ADS in the first quarter of 2014.
Non-GAAP net loss attributable to holders of ordinary shares was
US$1.2 million in the first quarter
of 2015, as compared with a net income of US$0.6 million in the fourth quarter of 2014 and
a net income of US$1.2 million in the
first quarter of 2014.
Non-GAAP basic and diluted loss per ADS were both US$0.034 in the first quarter of 2015, as
compared with US$0.020 and
US$0.018 earnings per ADS,
respectively, in the fourth quarter of 2014 and US$0.032 for both basic and diluted earnings per
ADS in the first quarter of 2014.
Cash and Cash Equivalents
As of March 31, 2015, the Company
had US$72.0 million of cash and cash
equivalents, as compared with US$103.2
million as of December 31,
2014. The QoQ decrease was mainly due to our payment of the
USD$24.6 million special dividend and
USD$4.0 million capital
expenditures.
Capital Expenditures
The company had capital expenditures of US$4.0 million in the first quarter of 2015, as
compared with US$1.6 million in the
fourth quarter of 2014, and US$0.5
million in the first quarter of 2014. Our capital
expenditures were used primarily for (i) prepayments for land use
rights, (ii) prepayments for intangible assets, and (iii) purchase
of computer hardware and equipment. Actual future capital
expenditures may differ from the amounts indicated above.
In December 2014, the Company
entered into a land use right transfer agreement with Songjiang
Planning and Land Administration Bureau of Shanghai Municipality to
purchase the land use right of two parcels of land for
considerations of RMB11.0 million
($1.8 million) and RMB10.4 million ($1.7
million), respectively. 20% of the considerations amounting
RMB2.2 million (US$0.4 million) and RMB2.1
million (US$0.3 million) were
paid in December 2014. The rest of
the consideration amounting RMB8.8
million ($1.4 million) and
RMB8.3 million ($1.4 million) were paid in January 2015.
In December 2014, the Company was
granted a two-year right from a third party to develop a web game
and a mobile ARPG game based on Fairy
Tail, a famous Japanese IP derived from manga series.
Total license fees and minimum guarantees were $1.8 million, of which $1.0 million license fee has been paid as of
March 31, 2015.
Share-based Compensation
Share-based compensation was US$0.4
million for the first quarter of 2015 as compared with
US$0.5 million in the fourth quarter
of 2014 and US$0.6 million in the
first quart of 2014.
Recent Business Highlights
- On February 10, 2015, Taomee
started to close-beta test a new 3D web-based fighting named Red
Pupil Blade.
Outlook for the Second Quarter of 2015
Net revenues of the second quarter of 2015 are expected to be
within in the range of US$8.2 million to
US$8.7 million, which represents a year-over-year decrease
of approximately 17.5% to 22.2%. This forecast reflects the
Company's current and preliminary view of the operating results,
and is subject to future changes.
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with
generally accepted accounting principles in the United States, or GAAP, this press release
presents non-GAAP net income attributable to the Company's
shareholders and non-GAAP earnings per ADS by excluding share-based
compensation and impairment charges from net income attributable to
the Company's shareholders and from the calculation of earnings per
ADS. The Company believes these non-GAAP financial measures are
important to help investors understand the Company's operating and
financial performance compare business trends among different
reporting periods on a consistent basis and assess the Company's
core operating results. The use of the above non-GAAP
financial measures has certain limitations. Share-based
compensation charge has been and will continue to be incurred and
is not reflected in the presentation of the non-GAAP financial
measures; it should be considered in the overall evaluation of our
results. None of the non-GAAP measures is a measure of net
income attributable to the Company's shareholders, operating
profit, operating performance or liquidity presented in accordance
with GAAP. We compensate for these limitations by providing the
relevant disclosure of our share-based compensation and impairment
charges in our reconciliations to the most directly comparable GAAP
financial measures, which should be considered when evaluating our
performance. These non-GAAP financial measures should be considered
in addition to financial measures prepared in accordance with GAAP,
but should not be considered a substitute for, or superior to,
financial measures prepared in accordance with GAAP.
Reconciliation of each of these non-GAAP financial measures to the
most directly comparable GAAP financial measure is set forth at the
end of this release.
Conference Call
The Company will host a conference call and live webcast at
8:00 a.m. ET (New York) on Thursday,
May 21, 2015 (which is 8:00
p.m. in China on Thursday, May
21, 2015). A brief presentation to accompany the conference
call will be available on the Company's IR website
(http://ir.taomee.com/phoenix.zhtml?c=243417&p=irol-reportsannual)
before the call.
The dial-in details for the live conference call are:
|
Conference
ID:
|
37866528
|
|
U.S.
toll-free:
|
+1-866-519-4004
|
|
Hong Kong
toll-free:
|
800-906-601
|
|
International:
|
+65-6723-9381
|
|
China
Mainland:
|
400-620-8038
|
|
Passcode:
|
Taomee
|
A live webcast and archive of the conference call will be
available on the Investor Relations section of Taomee's website at
http://edge.media-server.com/m/p/88toytti. A telephone replay of
the call will be available after the conclusion of the conference
call at 11:00 a.m. ET on May 21, 2015 through 09:59
a.m. ET, May 29, 2015.
The dial-in details for the telephone replay
are:
|
Conference
ID
|
37866528
|
|
International
|
+61-2-8199-0299
|
|
China:
|
400-632-2162
|
About Taomee Holdings Limited
Taomee Holdings Limited ("Taomee" or "the Company") is
China's leader in children's
entertainment and media. Its award winning content offerings are
both engaging and educational, endearing it to children, as well as
to parents and teachers. The Company was founded in 2007 with the
mission to bring joy and inspiration to children. Its popular
character franchises, including SEER and MOLE'S WORLD, are
distributed online via virtual worlds, web games and mobile
applications, as well as through traditional media, including
animated box office films, TV series, books and consumer products,
most notably toys and trading cards. Its online community regularly
achieves top search ranking in China, Hong
Kong and Taiwan. Taomee has
been consistently recognized for its leadership and innovative
contributions to the children's market, including accolades from
China's Ministry of Culture and
the China Animation Association.
For more information, please visit:
http://www.taomee.com/en_taomee.html
- Visit online virtual world communities at www.61.com
- Watch animations and films at http://v.61.com/
- Download mobile games and applications at http://m.61.com/
- Share with other parents and caregivers at
http://mama.61.com/
Safe Harbor Statements
This press release contains statements that may constitute
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Among other things, the
management's quotations and outlook information contain
forward-looking statements. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements to
be materially different from those expressed or implied by the
forward-looking statements. Potential risks and uncertainties
include, but are not limited to: the Company's business strategies
and initiatives as well as business plans; future business
development, results of operations and financial condition;
expected changes in revenues and certain cost or expense items;
expectations with respect to increased revenue growth and the
Company's ability to sustain profitability; the Company's services
and products under development or planning; the Company's ability
to attract users and further enhance the Company's brand
recognition; and trends and competition in the children's
entertainment and media market and industry, including those for
online entertainment. Further information regarding these and other
risks is included in Taomee's annual report on Form 20-F and other
documents filed with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
the press release, and the Company undertakes no obligation to
update any forward-looking statements to reflect subsequent
occurring events or circumstances, or changes in its expectations,
except as required under applicable law. Although the Company
believes that the expectations expressed in these forward looking
statements are reasonable, the Company cannot assure you that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
For further information, please contact
Angela Wang
Taomee Holdings Limited
+86-21-61280056 Ext 8651
ir@taomee.com
|
Taomee Holdings
Limited - Unaudited Consolidated Balance Sheets
|
|
|
|
|
|
In
USD
|
|
In
USD
|
|
March
31
|
|
December
31
|
|
2015
|
|
2014
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
$
71,972,847
|
|
$ 103,173,555
|
|
Accounts receivable,
net
|
3,357,556
|
|
2,499,084
|
|
Inventory
|
466,370
|
|
238,055
|
|
Prepaid Income
tax
|
849,250
|
|
797,711
|
|
Due from related
parties
|
2,615,264
|
|
2,592,450
|
|
Prepayments and other current assets
|
5,939,838
|
|
4,128,248
|
|
Deferred tax assets, current
|
5,850,634
|
|
5,872,817
|
|
Total current
assets
|
91,051,759
|
|
119,301,920
|
|
|
|
|
|
Investment in equity
investees
|
17,329,674
|
|
16,138,860
|
|
Property and
equipment, net
|
1,801,737
|
|
1,813,660
|
|
Prepayments for land
use rights and building
|
4,942,854
|
|
2,162,445
|
|
Acquired intangible
assets
|
1,047,919
|
|
1,113,495
|
|
Other
assets
|
1,578,786
|
|
1,331,363
|
|
Total
assets
|
$
117,752,729
|
|
$
141,861,743
|
|
|
|
|
|
LIABILITIES
AND EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts payable
|
1,185,774
|
|
786,446
|
|
Advance from customers
|
8,495,028
|
|
8,236,080
|
|
Due to related parties
|
366,845
|
|
422,019
|
|
Deferred revenue
|
12,616,242
|
|
11,768,665
|
|
Deferred tax liabilities, current
|
696,160
|
|
698,800
|
|
Accrued expenses and other current liabilities
|
4,274,235
|
|
4,814,555
|
|
Total current
liabilities
|
27,634,284
|
|
26,726,565
|
|
|
|
|
|
Equity
|
|
|
|
|
Taomee Holdings
Limited shareholders' equity
|
|
|
|
|
Ordinary shares
($0.00002 par value;
875,000,000 shares authorized; 751,820,760
and 751,088,350 shares issued; 706,823,860
and 708,350,670 outstanding as of March 31,
2015 and December 31, 2014, respectively)
|
15,036
|
|
15,022
|
|
Treasury stock (at cost)
|
(11,900,702)
|
|
(11,521,316)
|
|
Additional paid-in capital
|
76,692,897
|
76,308,327
|
|
Retained earnings
|
21,108,150
|
|
45,860,434
|
|
Accumulated other comprehensive income
|
3,921,578
|
|
4,188,419
|
|
Taomee Holdings
Limited shareholders' equity
|
89,836,959
|
|
114,850,886
|
|
Noncontrolling
interests
|
281,486
|
|
284,292
|
|
Total
equity
|
$
90,118,445
|
|
$ 115,135,178
|
|
|
|
|
|
TOTAL LIABILITIES
AND EQUITY
|
$
117,752,729
|
|
$
141,861,743
|
|
Taomee Holdings
Limited - Unaudited Consolidated Statements of
Operations
|
|
|
|
|
|
In USD, except for
share data
|
|
For three months
ended
|
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
|
2015
|
|
2014
|
|
2014
|
|
Revenues:
|
|
|
|
|
|
|
|
PC
business, net
|
|
$ 6,000,333
|
|
$ 5,261,317
|
|
$ 8,770,391
|
|
Mobile business, net
|
|
1,529,565
|
|
1,417,648
|
|
602,679
|
|
Offline business, net
|
|
1,484,671
|
|
924,982
|
|
2,323,759
|
|
Total net
revenues
|
|
9,014,569
|
|
7,603,947
|
|
11,696,829
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
|
|
|
|
|
PC
business
|
|
(1,294,944)
|
|
(999,689)
|
|
(1,852,829)
|
|
Mobile business
|
|
(220,977)
|
|
(146,650)
|
|
(76,842)
|
|
Offline business
|
|
(1,307,427)
|
|
(841,233)
|
|
(1,223,634)
|
|
Total cost of
revenues
|
|
(2,823,348)
|
|
(1,987,572)
|
|
(3,153,305)
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
6,191,221
|
|
5,616,375
|
|
8,543,524
|
|
|
|
|
|
|
|
|
Operating income
(expenses):
|
|
|
|
|
|
|
|
Product development
|
|
(3,596,853)
|
|
(3,852,603)
|
|
(3,202,027)
|
|
Sales and marketing
|
|
(2,690,336)
|
|
(2,064,342)
|
|
(2,039,257)
|
|
General and administrative
|
|
(3,026,623)
|
|
(2,731,761)
|
|
(3,642,791)
|
|
Impairment loss on acquired
intangible assets
|
|
|
|
-
|
|
(116,114)
|
|
Other operating income
|
|
1,349,479
|
|
2,303,384
|
|
984,567
|
|
Total operating
expenses
|
|
(7,964,333)
|
|
(6,345,322)
|
|
(8,015,622)
|
|
|
|
|
|
|
|
|
Income (Loss) from
operations
|
|
(1,773,112)
|
|
(728,947)
|
|
527,902
|
|
|
|
|
|
|
|
|
Interest
income
|
|
578,017
|
|
1,040,010
|
|
592,635
|
|
Other income
(expenses), net
|
|
(86,294)
|
|
(165,975)
|
|
(583,216)
|
|
Income/(Loss)
before income
taxes and share of profit/(loss)
in equity method
investments
|
|
(1,281,389)
|
|
145,088
|
|
537,321
|
|
|
|
|
|
|
|
|
Income tax
benefit/(expense)
|
|
14,980
|
|
172,942
|
|
(92,286)
|
|
|
|
|
|
|
|
|
Share of
profit/(loss) in equity
method investments
|
|
(363,281)
|
|
(189,500)
|
|
42,098
|
|
Net
income/(loss)
|
|
(1,629,690)
|
|
128,530
|
|
487,133
|
|
|
|
|
|
|
|
|
Less: Net
income/(loss)
attributable to non-controlling
interest
|
|
(25,106)
|
|
(35,397)
|
|
(9,586)
|
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to
holders of ordinary shares
|
|
$ (1,604,584)
|
|
$ 163,927
|
|
$ 496,719
|
|
Earnings/(Loss)
per ADS
|
|
|
|
|
|
|
|
-Basic
|
|
$
(0.045)
|
|
$
0.005
|
|
$
0.014
|
|
-Diluted
|
|
$
(0.045)
|
|
$
0.005
|
|
$
0.014
|
|
Weighted average
number of
shares used in calculation
|
|
|
|
|
|
|
|
- Basic
|
|
707,478,950
|
|
709,848,562
|
|
722,760,411
|
|
- Diluted
|
|
707,478,950
|
|
714,745,197
|
|
737,488,586
|
|
Weighted average
number of
ADS used in calculation
|
|
|
|
|
|
|
- Basic
|
|
35,373,947
|
|
35,492,428
|
|
36,138,021
|
|
- Diluted
|
|
35,373,947
|
|
35,737,260
|
|
36,874,429
|
|
Taomee Holdings
Limited - Unaudited Consolidated Other Comprehensive
Income
|
|
|
|
|
|
In
USD,
For three months
ended
|
|
March
31,
2015
|
|
December
31,
2014
|
|
March
31,
2014
|
|
Net
income/(loss)
|
$ (1,629,690)
|
|
$
128,530
|
|
$
487,133
|
|
Other comprehensive
income/(loss), net of tax
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
(266,841)
|
|
273,356
|
|
(551,622)
|
|
|
|
|
|
|
|
Comprehensive
income/(loss)
|
(1,896,531)
|
|
401,886
|
|
(64,489)
|
|
Comprehensive
income/(loss) attributable to noncontrolling
interest
|
(25,106)
|
|
(35,397)
|
|
(9,586)
|
|
|
|
|
|
|
|
Comprehensive
income/(loss) attributable to Taomee Holdings
Limited
|
$ (1,871,425)
|
|
$
437,283
|
|
$
(54,903)
|
|
|
|
|
|
|
|
Taomee Holdings
Limited - Reconciliation of Non-GAAP and GAAP
Results
|
|
|
|
|
|
In USD, except for
share data
For three months
ended
|
|
|
March
31,
|
|
December
31,
|
|
March
31,
|
|
|
2015
|
|
2014
|
|
2014
|
|
Reconciliation
from Non-GAAP
measures to GAAP measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss)
attributable to holders of ordinary
shares
|
|
$ (1,204,277)
|
|
$
643,105
|
|
$ 1,183,394
|
|
Share-based
compensation
|
|
(400,307)
|
|
(479,178)
|
|
(570,561)
|
|
Impairment loss on
acquired intangible assets
|
|
-
|
|
-
|
|
(116,114)
|
|
GAAP net
income/(loss) attributable to
holders of ordinary shares
|
|
$ ( 1,604,584)
|
|
$
163,927
|
|
$
496,719
|
|
|
|
|
|
|
|
|
Non-GAAP
earnings/(loss) per ADS
|
|
|
|
|
|
|
|
-Basic
|
|
$
(0.034)
|
|
$
0.020
|
|
$
0.032
|
|
-Diluted
|
|
$
(0.034)
|
|
$
0.018
|
|
$
0.032
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/taomee-reports-first-quarter-2015-unaudited-financial-results-300087143.html
SOURCE Taomee Holdings Limited