Jumei International Swings To Q4 Profit

(RTTNews) - Jumei International Holding Ltd. (JMEI), a Chinese online retailer of beauty products, reported net income attributable to Jumei's ordinary shareholders increased to US$10.7 million or US$0.07 per ADS, compared to a net loss of US$15.5 million or US$0.24 per ADS for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was US$11.7 million or US$0.08 per ADS, compared to US$15.7 million or US$0.25 per ADS in the prior year quarter.

Total net revenues for the fourth quarter rose 18.5% to US$165.96 million from US$140.07 million a year earlier, mainly due to the increase in the number of active customers and the shift from beauty product marketplace sales to merchandise sales.

Analysts polled by Thomson Reuters expected the company to earn US$0.14 per ADS on revenue of US$196.79 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts first quarter total net revenues to be between US$224.5 million and US$232.3 million, representing a year-over-year growth rate of about 45% to 50%. Analysts currently expect the company to post revenue of US$213.62 million for the first quarter.